Common use of Base Values Clause in Contracts

Base Values. 8.1.1 The Disclosure Letter contains full and accurate particulars of: (a) the extent to which the book value of an asset or a particular class of assets as shown in the Audited Accounts is in excess of either: (1) the amount falling to be deducted under s.38 TCGA 1992 from the consideration receivable on a disposal of that asset, or (2) the balance of the qualifying expenditure attributable to that asset or pool of assets, as the case may be, brought forward into the accounting period in which Completion will occur and save to the extent disclosed, no such excess exists; and (b) the extent to which provision for Tax in respect of such excess has been made in the Audited Accounts. 8.1.2 No election under s.35 TCGA 1992 is in effect in relation to the Company and full particulars are given in the Disclosure Letter of the first relevant disposal for the purposes of the said s.35. 8.1.3 The Disclosure Letter contains full and accurate particulars of all assets held by the Company on or after 6 April 1988 in respect of which relief is or would be available under Schedule 4 TCGA 1992 upon disposal.

Base Values. 8.1.1 (1) The Disclosure Letter contains full and accurate particulars of: (a) the extent to which the book value of an asset or a particular class of assets asset as shown in the Audited Accounts is in excess of either: (1i) the amount falling to be deducted under s.38 the TCGA 1992 Section 38 from the consideration receivable on a disposal of that asset, ; or (2ii) the balance of the qualifying expenditure attributable to that asset or pool of assets, assets (as the case may be, ) brought forward into the accounting period in which Completion will occur and save to the extent disclosed, disclosed no such excess exists; and (b) the extent to which provision for Tax taxation in respect of such excess has been made in the Audited Accounts. 8.1.2 (2) No election under s.35 the TCGA 1992 Section 35 is in effect in relation to the Company and full particulars are given in the Disclosure Letter of the first relevant disposal for the purposes of the said s.35Section 35. 8.1.3 (3) The Disclosure Letter contains full and accurate particulars of all assets held by the Company on or after 6 6th April 1988 in respect of which relief is or would be available under TCGA Schedule 4 TCGA 1992 upon disposal.