Common use of Draft Closing Date Balance Sheet Clause in Contracts

Draft Closing Date Balance Sheet. Within sixty (60) days after the date of the Closing, Nu Skin USA will prepare and deliver to Nu Skin Enterprises and the Escrow Agent a draft unaudited consolidated balance sheet (the "Draft Closing Date Balance Sheet") of Nu Skin USA as of the date of the Closing (determined on a pro forma basis as though the Parties had not consummated the transactions contemplated by this Agreement). Nu Skin USA will prepare the Draft Closing Date Balance Sheet in accordance with generally accepted accounting principles applied on a basis consistent with the preparation of Nu Skin USA's December 31, 1998 balance sheet; provided, however, that assets, liabilities, gains, losses, revenues, and expenses in interim periods or as of dates other than year-end (which normally are determined through the application of so-called interim accounting conventions or procedures) will be determined, for purposes of the Draft Closing Date Balance Sheet, through full application of the procedures used in preparing Nu Skin USA's December 31, 1998 balance sheet.