MMC Financial Statements definition
Examples of MMC Financial Statements in a sentence
Also attached hereto as part of Schedule 5.11(a) are the unaudited balance sheets and income statement of MMC for the fiscal years ending on December 31, 1998 and 1999, and for the period ending on October 31, 2000 (collectively the "MMC Financial Statements").
The allowance for uncollectible accounts set forth in the MMC Financial Statements was calculated consistent with past practices and procedures.
The MMC Financial Statements have been prepared in accordance with GAAP consistently applied throughout the periods specified therein (except where otherwise noted therein) subject, in the case of the interim unaudited statements, to normal year-end audit adjustments (which will not be material in the aggregate) and the absence of footnotes.
The MMC Financial Statements have been prepared based upon the books and records of MMC in a manner consistent with MMC's standard internal accounting practices, consistently applied, and fairly present the financial position of MMC as of the dates of such MMC Financial Statements and the results of operations for the periods covered by such MMC Financial Statements.
There are no material liabilities, contingent or otherwise, of MMC which are not reflected in the MMC Financial Statements except those incurred in the ordinary course of business since the date of the said schedule and the MMC Financial Statements, and MMC has not guaranteed or agreed to guarantee any debt, liability or other obligation of any person, firm or corporation.
All agent and trade receivables of MMC that are reflected on the MMC Financial Statements represent valid obligations arising from services actually performed in the Ordinary Course of Business.
The MMC Financial Statements are internally generated tax basis statements, and have not been compiled or reviewed by outside auditors or accountants.