LOSS CONTINGENCY definition

LOSS CONTINGENCY means an existing condition, situation, or set of circumstances involving uncertainty as to possible Liability to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.

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LOSS CONTINGENCY shall have the meaning ascribed to it in Section 3.10(a).

LOSS CONTINGENCY shall have the meaning accorded to it by generally accepted accounting principles.

Examples of LOSS CONTINGENCY in a sentence

For purposes of this Agreement, "Loss Contingency" shall have the meaning accorded to it by generally accepted accounting principles.
The Seller Disclosure Letter sets forth a true and complete list of all loss contingencies (within the meaning of Statement of Financial Accounting Standards No. 5), except those classified as "remote" (a "Loss Contingency") of Company exceeding U.S. $10,000 in the case of any single Loss Contingency or U.S. $100,000 in the case of all Loss Contingencies.
The Company's disclosure letter sets forth a true and complete list of all loss contingencies (within the meaning of Statement of Financial Accounting Standards No. 5) (a "Loss Contingency") of the Company exceeding $5,000.00 in the case of any single loss contingency or $25,000.00 in the case of all loss contingencies.
For purposes of this Agreement, "Loss Contingency" shall have the meaning accorded to it by U.S. generally accepted accounting principles.
For purposes of this Agreement, "Loss Contingency" shall have the meaning accorded to it by GAAP.
The Borrowers are required, at any time, to accrue, reflect, or reserve, as a liability, expense, and/or charge on their financial statements, an amount in excess of Five Million Dollars ($5,000,000), whether individually or in the aggregate, as a result of any event, circumstance, occurrence, or Loss Contingency (including, without limitation, litigation involving any of the Borrowers), whether such event, circumstance, occurrence, or Loss Contingency existed or arose prior to or after the Closing Date.
Except as set forth in the Financial Statements or Section 3.4(a) of the Disclosure Schedule, as of the date hereof, neither the Company nor any of its Subsidiaries has (i) any Loss Contingency material to the Company and its Subsidiaries on a consolidated basis which is not required by GAAP to be accrued or (ii) any other Liability material to the Company and its Subsidiaries on a consolidated basis that is not required by GAAP to be accrued.
Except as set forth on Schedule 3.10(a), the Borrowers do not possess any "loss contingency" (as that term is defined in Financial Accounting Standards Board, Statement of Financial Accounting Standards No. 5 - "FASB 5") (a "Loss Contingency") which is not accrued, reflected, or reserved against in its balance sheet or disclosed in the footnotes to such balance sheet.

More Definitions of LOSS CONTINGENCY

LOSS CONTINGENCY shall have the meaning accorded to it by GAAP. All accruals for unpaid vacation pay; premiums for employment insurance; health premiums; accrued wages, salaries and commissions; and employee benefit plan payments have been reflected in the books and records of Seller.

LOSS CONTINGENCY shall have the meaning set forth in Section 4(h). (yy) "New Name" shall have the meaning set forth in Section 7(j). (zz) "Party" or "Parties" shall have the meaning set forth in the preamble. (aaa) "Payoff Schedule" shall have the meaning set forth in Section 6(q). (bbb) "PBGC" shall have the meaning set forth in Section 4(r)(i)(B). (ccc) "Pension Plan" shall have the meaning set forth in Section 4(r)(i). (ddd) "Permitted Liens" shall have the meaning set forth in Section 3(a). (eee) "Properties" shall have the meaning set forth in Section 4(z)(i). (fff) "Purchase Price" shall have the meaning set forth in Section 3(b)(A). (ggg) "Purchaser" shall mean BF USB Inc. or any other entity that: (A) (x) owns or controls BF USB Inc.; (y) BF USB Inc. owns or controls; or (z) is owned and controlled by the same parent company or companies or the same ultimate beneficial owner as BF USB Inc., and (B) to which BF USB Inc. may have assigned this Agreement as of the Closing. (hhh) "Reserve Escrow Agreement" shall have the meaning set forth in Section 6(n). (iii) "Seller" shall mean Delicious Brands, Inc. (jjj) "Seller's Assets" shall have the meaning set forth in Section 3(a). (kkk) "Seller Capital Stock" shall have the meaning set forth in Section 4(c). (lll) "Special Reserve Fund" shall have the meaning set forth in Section 6(n). (mmm) "Subsidiary" and "Subsidiaries" shall have the meaning set forth in Section 4(b). (nnn) "Tax Returns" shall have the meaning set forth in Section 4(p).

LOSS CONTINGENCY means an existing condition, situation, or set of circumstances involving uncertainty as to possible charges against income, include those charges commonly referred to as "expenses," to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.

LOSS CONTINGENCY means an existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.

LOSS CONTINGENCY shall have the meaning accorded to it by U.S. generally accepted accounting principles.