Prime Financial Statements definition

Prime Financial Statements means the financial statements for the most recent calendar quarter of (a) Prime Group Realty Trust ("PGRT"), the general partner of Prime, so long as the operations of Prime are consolidated into PGRT's financial statements, or (b) if such operations are no longer consolidated, then the separate financial statements of Prime.

Prime Financial Statements means the unaudited annual financial statements of Prime as at and for the periods ended January 31, 2014 and January 31, 2013, and the unaudited financial statements of Prime for the twelve (12) month period ended July 31, 2014, consisting of the balance sheets and statements of income and retained earnings and cash flows.

Examples of Prime Financial Statements in a sentence

• As of the date thereof, there was no accrued vacation or sick leave payable to the directors or employees of Prime, the General Partner or AMI which is not reflected in the Prime Financial Statements.

• All Accounts Payable reflected in the Prime Financial Statements or the Nugale Financial Statements or arising after the date thereof are the result of bona fide transactions in the Ordinary Course of Business and have been paid or are not yet due and payable.

• Copies of the Prime Financial Statements and the Nugale Financial Statements are set forth in Disclosure Schedule 3.8(2).

• The Prime Financial Statements do not, as of the dates thereof, include any material asset or omit any material liability, absolute or contingent, or other fact, the inclusion or omission of which renders the Prime Financial Statements, in light of the circumstances under which they were made, misleading in any respect.

• The acquisition of BayCity Communications Limited has had a material impact on a large number of the components of the comparative figures in the Prime Financial Statements.

• AAC is not subject to and there is no basis for assertion against AAC or the GP Interest of, any claim, liability, commitment or obligation of any nature, whether absolute, accrued, contingent or otherwise, and whether due or to become due other than obligations of Prime which are attributable to the GP Interest and which are disclosed in the Prime Financial Statements or on Schedule 3.8 of the Acquisition Agreement.

• The amounts of such Inventories shown on the Prime Financial Statements and the Nugale Financial Statements were based on quantities determined by physical count or measurement, taken on the applicable dates set forth therein, and valued at the lower of cost (determined on a first-in, first-out basis) or market value and on a basis consistent with that of prior years.

• The Prime Financial Statements and the Nugale Financial Statements (i) contain and reflect all necessary adjustments and accruals for a fair presentation of the financial condition of Prime and Nugale as of their dates including for all warranty, maintenance, service and indemnification obligations, and (ii) contain and reflect adequate provisions for all liabilities for all material Taxes applicable to Prime and Nugale with respect to the periods then ended.

• Except as disclosed in the Prime Financial Statements and except for unpaid base compensation accrued in the ordinary course of business consistent with past practice since September 30, 1997, there are no material sums due to any employees of Prime, the General Partner or AMI.