Common use of Audited Statements Clause in Contracts

Audited Statements. As soon as reasonably practicable after the date hereof, Seller shall engage (pursuant to an engagement letter reasonably acceptable to each of Purchaser and Seller) an accounting firm that is certified by the Public Company Accounting Oversight Board and mutually agreed by Purchaser and Seller (the “Audit Firm”) to prepare, and Seller shall deliver to Purchaser as soon as reasonably practicable after the date hereof, the financial statements required for Purchaser to comply with 17 CFR §210.3-05 (such financial statements, the “Audited Statements”). Seller and Purchaser shall share equally all costs and documented expenses incurred by the Audit Firm in connection with the preparation of the Audited Statements. Seller shall keep Purchaser apprised of the Audit Firm’s progress in preparing the Audited Statements. If on the date that, but for this Section 5.18, the Closing would otherwise occur, either Purchaser or Seller reasonably believes that the Audited Statements will not be completed within sixty (60) days of such date, then the Closing Date shall not occur until the Parties mutually agree that the Audited Statements are expected to be completed within sixty (60) days of such later time.