Seller's Accounting Practices definition

Seller's Accounting Practices means Seller's historical accounting principles, practices and policies for the Division consistently applied. It is the intent of the parties that the Adjustment Amount represent actual changes in the assets and liabilities of the Division between July 31, 2001 and the Effective Time, and not differences in accounting practices or judgment. To the extent that an item is included in the determination of Initial Working Capital, such item shall be treated consistently in the determination of Adjusted Closing Working Capital. To the extent an item is to be included in the determination of Adjusted Closing Working Capital that was not included in the determination of Initial Working Capital, such item shall be treated, to the maximum extent possible, in a manner consistent with the treatment of similar or related items that have been included in the determination of Initial Working Capital.
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Seller's Accounting Practices means GAAP, subject to being on a consistent basis with the accounting policies and practices used by the Seller in the preparation of its audited financial statements for fiscal year ended June 30, 2007.
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Seller's Accounting Practices means Seller’s past accounting practices, consistently applied, which are in material conformity with generally accepted accounting principles, subject, in the case of interim financial statements, to normal recurring year-end adjustments (the effect of which will not, individually or in the aggregate, be materially adverse to the Business) and the absence of notes to any interim balance sheet, and except as listed on Schedule 1.2 attached hereto. When generally accepted accounting principles are not specific as to the accounting treatment of a particular item, or if the accounting treatment of an item in accordance with generally accepted accounting principles requires the exercise of judgment, Seller’s reasonable determination as to the treatment of any such item shall be conclusive so long as either (i) if such item appears on the balance sheets comprising the Financial Statement, its treatment on the Closing Balance Sheet is consistent therewith, or (ii) if such item is not on the balance sheet comprising the Financial Statement, Seller’s determination is not expressly and specifically prohibited by generally accepted accounting principles (except as listed on Schedule 1.2 attached hereto).
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Examples of Seller's Accounting Practices in a sentence

  • Three (3) business days prior to the Closing Date, to the extent practicable, the adjustments provided in this Section 1.6 shall be made to the Cash Portion of the Base Purchase Price on the basis of the then most recently available financial statements of the Publications, which shall be reflected on a preliminary balance sheet for the Publications (the “Preliminary Balance Sheet”) prepared by Sellers in accordance with Sellers Accounting Practices.

  • All such accounts receivable have arisen in the ordinary course of business consistent with past practice and represent bona fide indebtedness incurred by the applicable account debtor and have been properly adjusted for bankrupt and other uncollectible accounts in accordance with Sellers Accounting Practices.

  • Specifically, fellows will learn about appropriate diagnostic blood tests and molecular genetic tests to perform in the course of a medical workup, and will have ample opportunities to order these tests during the clinic with supervision of faculty attending physicians.

  • Subject to the foregoing, the Income Statements fairly present in all material respects the results of operations of the Publications (before interest and taxes) for the periods covered thereby and have been prepared in conformity with Sellers Accounting Practices.

  • The Working Capital History has been prepared in accordance with Sellers Accounting Practices and consistent 05799 Asset Purchase AgreementMorris Publishing Group 18 with past practice.

  • The Inventory will, on the Closing Date, consist of items --------- that are usable or saleable in the ordinary course of its business, except to the extent of any reserve established by Seller in the Closing Statement in regard to obsolete or slow-moving inventory and except for those items of obsolete or slow-moving Inventory which have been written down in the Closing Statement in accordance with Seller's Accounting Practices.

  • Three (3) business days prior to the Closing Date, to the extent practicable, the adjustments provided in this Section 1.6 shall be made to the Purchase Price on the basis of the then most recently available financial statements of the Publications, which shall be reflected on a preliminary balance sheet for the Publications (the “Preliminary Balance Sheet”) prepared by Sellers in accordance with 05799 Asset Purchase AgreementMorris Publishing Group 11 Sellers Accounting Practices.

  • Until the Closing Date, GRMC and GHS shall deliver to Buyer within fifteen (15) days after the end of each month a copy of their unaudited consolidated monthly financial statements as of the end of such month and for the fiscal period then ended prepared in a manner and containing information consistent with Sellers' Accounting Practices and Procedures.

  • Subject to the foregoing, the Income Statements fairly present in all material respects the revenues of the Publications for the periods covered thereby and have been prepared in conformity with Sellers Accounting Practices.

  • Except as set forth in Schedule 4.10, ------------- the Financial Statements have been prepared in conformity with Seller's Accounting Practices and fairly present, in all material respects, the financial position of the Business and the results of its operations as of the respective dates thereof and for the periods then ended.


More Definitions of Seller's Accounting Practices

Seller's Accounting Practices means Seller's past accounting practices, which are in material conformity with generally accepted accounting principles (except as listed on Schedule 1.54 attached hereto) consistently ------------- applied.
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Related to Seller's Accounting Practices

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Current Good Manufacturing Practices or “cGMP” means applicable Good Manufacturing Practices as specified in the United States Code of Federal Regulations and/or the EU Good Manufacturing Guidelines, and any successor legislation from time to time, prevailing at the time of the manufacture of the Product.

  • Accounting Statement means for each financial year, the following statements, namely-

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • Practices means that the practice(s) seems like a logical approach to addressing a specific behavior which is becoming distinct, recognizable among Clients and clinicians in practice, or innovators in academia or policy makers; and at least one recognized expert, group of researchers or other credible individuals have endorsed the practice as worthy of attention based on outcomes; and finally, it produces specific outcomes.

  • Prudent Servicing Practices The standard of care set forth in each Servicing Agreement.

  • Auditing Profession Act ’ means the Auditing Profession Act, 2005 (Act No. 26 of 2005);

  • Good Engineering Practice means, Works carried out in accordance with the following standards/ specifications,

  • Customary Servicing Practices means the customary servicing practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services for itself and others, as such customary servicing practices may be changed from time to time, it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing Practices.”

  • Good Manufacturing Practices means current good manufacturing practices, as set forth in 21 C.F.R. Parts 210 and 211.

  • Accepted Master Servicing Practices With respect to any Mortgage Loan, as applicable, either (x) those customary mortgage servicing practices of prudent mortgage servicing institutions that master service mortgage loans of the same type and quality as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located, to the extent applicable to the Trustee or the Master Servicer (except in its capacity as successor to a Servicer), or (y) as provided in the applicable Servicing Agreement, to the extent applicable to any Servicer, but in no event below the standard set forth in clause (x).

  • Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.

  • Accounting Procedure means the principles and procedures of accounting set out in Appendix C.

  • Prudent Operating Practice means the mining practices, methods and acts that would be employed by a prudent mining operator having assets and operations similar in type, size, location and scope to Borrower, using modern mining equipment and techniques in the conduct of diligent and safe mining operations in an attempt to recover the maximum amount of economically mineable and merchantable coal from the Mining Facilities with due regard for all Applicable Law, all in accordance and compliance with Environmental or Mining Permits held by Borrower.

  • Servicer Policies and Practices means, with respect to the Servicer’s duties under Exhibit A to the Servicing Agreement, the policies and practices of the Servicer applicable to such duties that the Servicer follows with respect to comparable assets that it services for itself and, if applicable, others.

  • Good Industry Practices means the practices that would be adopted by, and the exercise of that degree of care, skill, diligence, prudence and foresight that reasonably would be expected from, a competent contractor in the international oil and gas industry experienced in performing work similar in nature, size, scope and complexity to the Work and under conditions comparable to those applicable to the Work, where such work is subject to, and such contractor is seeking to comply with, the standards and codes specified in the Contract or (to the extent that they are not so specified) such national or international standards and codes as are most applicable in the circumstances, and the applicable Law.

  • Accounting Policies means GAAP, applied in a manner consistent with the accounting policies, principles, practices and methodologies used in the preparation of the Audited Balance Sheet.

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);

  • Generally Accepted Accounting Principles means the standards for accounting and preparation of financial statements established by the Federal Accounting Standards Advisory Board (or its successor agency) or any successor standards adopted pursuant to relevant SEC rule.