Common use of The Last Accounts Clause in Contracts

The Last Accounts. (a) The bases and policies of accounting adopted for the purposes of preparing the Last Accounts are the same as those adopted in preparing the audited accounts of the Target for the accounting period ending 31 December 2008. (b) The Last Accounts: (i) give a true and fair view of the assets and liabilities and state of affairs of the Target, as the case may be, as at the Last Accounts Date and of its profits or losses for the financial period ended on that date; (ii) comply with all applicable requirements of the Companies Acts and other relevant statutes; (iii) have been prepared in accordance with GAAP as applicable to a United Kingdom company as at the Last Accounts Date.