Common use of The Financial Statements Clause in Contracts

The Financial Statements. (a) have been prepared in accordance with GAAP applied on a basis consistent with those of preceding fiscal periods; (b) present fully, fairly and correctly the assets, liabilities and financial condition of the Corporation as at December 31, 2001 and December 31, 2002, respectively, and the results of its operations and the changes in its financial position for the period then ended; (c) are in accordance with the books and records of the Corporation; (d) contain and reflect all necessary adjustments for a fair presentation of the results of operations and the financial condition of the Corporation for the period covered thereby; and Page 31 of 75 - Share Purchase Agreement Initial ----------- (e) contain and reflect adequate provision or allowance for all reasonably anticipated liabilities, expenses and losses of the Corporation.