Common use of Initial Draft Closing Date Balance Sheet Clause in Contracts

Initial Draft Closing Date Balance Sheet. Within ninety (90) days after the Closing Date, ATOW will prepare and deliver to the Stockholder a draft balance sheet (the "Draft Closing Date Balance Sheet") of the COMPANY, taking into account the conversion of the COMPANY to a "C" corporation, as of the close of business on the Closing Date (after giving effect to all transactions occurring on the Closing Date other than the consummation of the transactions contemplated by this Agreement). ATOW will prepare the Draft Closing Date Balance Sheet in accordance with GAAP through application of the procedures used in preparing an end-of-year audited financial statement.

Initial Draft Closing Date Balance Sheet. Within ninety (90) days after the Closing Date, ATOW will prepare and deliver to the Stockholder Stockholders a draft balance sheet (the "Draft Closing Date Balance Sheet") of the COMPANY, taking into account the conversion of the COMPANY to a "C" corporation, as of the close of business on the Closing Date (after giving effect to all transactions occurring on the Closing Date other than the consummation of the transactions contemplated by this Agreement). ATOW will prepare the Draft Closing Date Balance Sheet in accordance with GAAP through application of the procedures used in preparing an end-of-year audited financial statement.