Common use of Reference Balance Sheet Clause in Contracts

Reference Balance Sheet. The Reference Balance Sheet for each of Dunellen and CTC (i) was prepared in accordance with the books of account and other financial records of Dunellen and CPI, (ii) presents fairly the financial condition and results of operations, changes in stockholders' equity and cash flow of Dunellen and CTC as of the date thereof, and (iii) includes all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the consolidated financial condition and results of operations, changes in stockholders' equity and cash flow of Sellers as of the date thereof excluding footnotes and normal year-end adjustments.