Common use of Income Statements Clause in Contracts

Income Statements. Seller shall deliver to Buyer true, complete and accurate copies of (i) Seller's statements of income relating to the VIP Division for the years ended November 30, 1999, 1998 and 1997, and (ii) unaudited interim income statements relating to the VIP Division for the eight month period ending July 31, 2000 (collectively the "INCOME STATEMENTS"). The Income Statements present fairly in all material respects those items contained therein for each such period. Except as provided on SCHEDULE 5.3 hereto, the Income Statements have been prepared in accordance with generally accepted accounting principles ("GAAP") consistently applied during the periods indicated.