Examples of Fiscal Year Financial Statements in a sentence
Except to the extent of the recorded reserve for doubtful accounts specified on the Fiscal Year Financial Statements, all of the Receivables are collectible in the ordinary course of business and will be fully collected within 90 days after having been created using commercially reasonable efforts.
Attached hereto as Exhibit 3.4 are true and correct copies of Advanced's audited balance sheets as of June 30, 1998, and its income statements for the year then ending (the "Advanced Fiscal Year Financial Statements"), and the interim unaudited balance sheet and income statement of ACS2 for the seven (7) month period ended January 31, 1999 (the "Advanced Interim Financial Statements" which with the Advanced Fiscal Year Financial Statements will be the "Advanced Financial Statements").
Each of the parties shall have ten (10) business days to review such draft Fiscal Year Financial Statements and provide any comments to KPMG LLP.
The Fiscal Year Financial Statements in all material respects (i) are accurate, correct, and complete in accordance with the books of account and records of National, (ii) have been prepared in accordance with Accounting Principles on a consistent basis throughout the indicated periods, and (iii) present fairly the financial condition, assets and liabilities and results of operation of National at the dates and for the relevant periods indicated in accordance with the Accounting Principles.
No Related Party is or has been since January 1, 1992, a party to any transaction, agreement or understanding with National except pursuant to arrangements disclosed on Schedule 3.18 and except for dividends properly reflected as such in the Fiscal Year Financial Statements or the Estimated Interim Financial Statements, except as set forth in Schedule 3.18.
The Advanced Fiscal Year Financial Statements have been prepared in accordance with generally accepted accounting principles.
The buildings, fixtures, improvements, machinery, equipment, tools, furniture, improvements and tangible personal property of National, including those reflected on the Fiscal Year Financial Statements, are in good operating condition and repair and are suitable for the purposes for which they are used in the Business, except (i) minor or routine maintenance, (ii) matters disclosed on Schedule 3.13, and (iii) conditions which in the aggregate would cost less than $25,000 to repair or replace.
Notwithstanding any provisions of this Agreement to the contrary and unless agreed to by both parties, the Closing Date shall be no earlier than forty-five (45) days from the date on which the final Fiscal Year Financial Statements shall be delivered by KPMG LLP to both parties.
Except to the extent of the reserve in the Fiscal Year Financial Statements, none of National's inventory is obsolete, has been consigned to others, or is on consignment from others.
The Fiscal Year Financial Statements and, the Current Financial Statements (collectively, the "Financial Statements") have been prepared in accordance with generally accepted accounting principles applied consistently with past practices and have been certified by the Company's chief financial officer.