In the Accounts Sample Clauses
The "In the Accounts" clause defines how certain items, transactions, or liabilities are to be reflected in a company's financial statements. Typically, this clause specifies whether particular assets, debts, or provisions must be included or excluded from the accounts as of a specific date, such as the completion of a transaction. For example, it may require that all outstanding liabilities up to the closing date are properly recorded in the accounts, ensuring that the financial statements accurately represent the company's position. The core function of this clause is to ensure transparency and accuracy in financial reporting, thereby preventing disputes over unrecorded items and clarifying the parties' expectations regarding the state of the accounts at a key moment.
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In the Accounts. The Indenture Trustee shall release property from the lien of this Indenture pursuant to this Section 8.04(b) only upon receipt of an Issuer Request accompanied by an Officer's Certificate, an Opinion of Counsel and (if required by the TIA) Independent Certificates in accordance with TIA ▇▇.▇▇. 314(c) and 314(d)(1) meeting the applicable requirements of Section 11.01.
In the Accounts. (a) stock (except long term contract balances) was valued in the same way as in the audited accounts of each Group Company for the two preceding financial years and on the basis of the lower of cost and net realisable value;
(b) all redundant and obsolete stock was written off and all sold, moving and damaged stock was written down appropriately.
In the Accounts. 7.15.1. full provision has been made for redundant, obsolete, unsaleable, deteriorated or slow moving stocks; and
7.15.2. the value attributed to each fixed asset of the relevant Subsidiary does not exceed its reduced value as at the Accounts Date.
In the Accounts. (a) the stock and work-in-progress of each Acquired Group Company was valued at the lower of cost and estimated selling price less cost to complete and sell or, where IFRS applies, the lower of cost and net realisable value;
(b) slow moving and damaged stock was written down as appropriate; and
(c) redundant and obsolete and obsolescent stock was wholly written off.
In the Accounts. (a) the value attributed to each Asset of the Company does not exceed its current market value as at the Accounts Date; and
(b) for the period ending as on the Accounts Date there are adequate provisions for any losses in respect of ongoing projects and/or work in progress to the extent that such losses have been reasonably determined.
In the Accounts. 10.3.1.1 the value attributed to each fixed asset is in accordance with Accounting Standards;
10.3.1.2 no asset has been revalued upwards and no value has been attributed to any intangible asset which had no value attributed to it in the Previous Accounts; and
10.3.1.3 no value has been attributed to work in progress in respect of eventual profit.
In the Accounts. 6.3.1 stock (except long-term contract balances) was valued in the same way as in the preceding financial years and on the basis of the lower of cost or net realisable value;
6.3.2 all redundant and obsolete stock was written off and all slow-moving and damaged stock was written down appropriately;
6.3.3 the long-term contract balances were valued in the same way as in the preceding financial years and on the basis of net cost less foreseeable losses and payments on account; and
6.3.4 the method of ascertaining attributable profit has been applied in a consistent manner.
In the Accounts. 3.2.1 depreciation of the fixed assets of the Sellers have been made at a rate sufficient to write down the value of such assets to nil not later than the end of their useful working lives;
3.2.2 slow moving stock has been written down appropriately and unrecoverable work in progress and redundant and obsolete stock has been wholly written off and the value attributed to the remaining stock did not exceed the lower of cost or net realisable value at the Balance Sheet Date on a going concern basis.
In the Accounts. (a) stock was valued in the same way as in the two (2) preceding financial years and on the basis of the lower of cost and net realisable value; and
(b) all redundant and obsolete stock was written off and proper provision was made for all slow-moving and damaged stock.