{"component": "clause", "props": {"groups": [{"snippet": "The \u201cAdjustment Amount\u201d will be the sum of the following amounts: the Net PPE Adjustment, plus the Net Other Regulatory Amount, plus the Working Capital Amount, minus the OPEB Adjustment Amount. As used herein:", "snippet_links": [{"key": "sum-of", "type": "clause", "offset": [36, 42]}, {"key": "net-ppe-adjustment", "type": "definition", "offset": [70, 88]}, {"key": "net-other-regulatory-amount", "type": "definition", "offset": [99, 126]}, {"key": "working-capital-amount", "type": "definition", "offset": [137, 159]}, {"key": "opeb-adjustment-amount", "type": "definition", "offset": [171, 193]}], "samples": [{"hash": "2iW6OzXF6RP", "uri": "/contracts/2iW6OzXF6RP#adjustment-amount", "label": "Asset Purchase Agreement (Algonquin Power & Utilities Corp.)", "score": 23.661190033, "published": true}, {"hash": "1suKZanmVvT", "uri": "/contracts/1suKZanmVvT#adjustment-amount", "label": "Asset Purchase Agreement (Algonquin Power & Utilities Corp.)", "score": 23.661190033, "published": true}, {"hash": "1wcpiH3ougi", "uri": "/contracts/1wcpiH3ougi#adjustment-amount", "label": "Asset Purchase Agreement (Atmos Energy Corp)", "score": 23.6009578705, "published": true}], "size": 6, "hash": "b65fa661d3d639dd18a2d87d080e5b0d", "id": 6}, {"snippet": "Without duplication, all amounts owed pursuant to Sections 1.04(b)(i) and (ii) shall be aggregated, and the net amount (if any) owed by Buyer to Seller, on the one hand, or by Seller to Buyer, on the other hand, is referred to as the \u201cAdjustment Amount\u201d; it being understood and agreed that if the net effect pursuant to this Section 1.04(c) is an increase in the Closing Date Purchase Price, then Buyer shall make a cash payment to Seller of the Adjustment Amount, and if the net effect pursuant to this Section 1.04(c) is a decrease in the Closing Date Purchase Price, then Seller and Buyer shall jointly instruct the Escrow Agent to pay to Buyer from the Indemnification Escrow Amount and the Transaction Incentive Plan Indemnity Amount in the Escrow Fund (in accordance with the Escrow Agreement) an aggregate amount equal to the Adjustment Amount; provided, however that to the extent the Indemnification Escrow Amount and the Transaction Incentive Plan Indemnity Amount are together insufficient to pay the full Adjustment Amount, then an amount equal to the excess of the Adjustment Amount over the amount paid to Buyer from the Indemnification Escrow Amount and the Transaction Incentive Plan Indemnity Amount shall be paid by Seller by wire transfer of immediately available funds. The Adjustment Amount shall be calculated as an adjustment to the Aggregate Consideration. Payment of the Adjustment Amount shall be effected by wire transfer of immediately available funds to an account designated by the recipient Party within five Business Days after the Final Determination Date.", "snippet_links": [{"key": "without-duplication", "type": "clause", "offset": [0, 19]}, {"key": "amounts-owed", "type": "definition", "offset": [25, 37]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [38, 58]}, {"key": "net-amount", "type": "definition", "offset": [108, 118]}, {"key": "by-buyer-to-seller", "type": "clause", "offset": [133, 151]}, {"key": "by-seller-to-buyer", "type": "clause", "offset": [173, 191]}, {"key": "the-other-hand", "type": "clause", "offset": [196, 210]}, {"key": "understood-and-agreed-that", "type": "clause", "offset": [264, 290]}, {"key": "net-effect", "type": "clause", "offset": [298, 308]}, {"key": "closing-date-purchase-price", "type": "definition", "offset": [364, 391]}, {"key": "payment-to-seller", "type": "clause", "offset": [422, 439]}, {"key": "seller-and-buyer-shall", "type": "clause", "offset": [576, 598]}, {"key": "the-escrow-agent", "type": "definition", "offset": [616, 632]}, {"key": "pay-to", "type": "definition", "offset": [636, 642]}, {"key": "indemnification-escrow-amount", "type": "definition", "offset": [658, 687]}, {"key": "transaction-incentive-plan", "type": "clause", "offset": [696, 722]}, {"key": "indemnity-amount", "type": "clause", "offset": [723, 739]}, {"key": "the-escrow-fund", "type": "clause", "offset": [743, 758]}, {"key": "in-accordance-with", "type": "definition", "offset": [760, 778]}, {"key": "the-escrow-agreement", "type": "clause", "offset": [779, 799]}, {"key": "aggregate-amount", "type": "clause", "offset": [804, 820]}, {"key": "equal-to", "type": "definition", "offset": [821, 829]}, {"key": "to-the-extent", "type": "clause", "offset": [876, 889]}, {"key": "the-excess", "type": "clause", "offset": [1061, 1071]}, {"key": "amount-paid", "type": "definition", "offset": [1106, 1117]}, {"key": "paid-by-seller", "type": "clause", "offset": [1227, 1241]}, {"key": "transfer-of", "type": "definition", "offset": [1250, 1261]}, {"key": "immediately-available-funds", "type": "definition", "offset": [1262, 1289]}, {"key": "adjustment-to", "type": "clause", "offset": [1339, 1352]}, {"key": "aggregate-consideration", "type": "clause", "offset": [1357, 1380]}, {"key": "payment-of-the-adjustment-amount", "type": "clause", "offset": [1382, 1414]}, {"key": "recipient-party", "type": "clause", "offset": [1513, 1528]}, {"key": "days-after", "type": "definition", "offset": [1550, 1560]}, {"key": "final-determination-date", "type": "definition", "offset": [1565, 1589]}], "samples": [{"hash": "jZ3wfHQNYhD", "uri": "/contracts/jZ3wfHQNYhD#adjustment-amount", "label": "Securities Purchase Agreement (Harland Clarke Holdings Corp)", "score": 21.9555091858, "published": true}, {"hash": "bQblayDbzxr", "uri": "/contracts/bQblayDbzxr#adjustment-amount", "label": "Securities Purchase Agreement (M & F Worldwide Corp)", "score": 21.9555091858, "published": true}], "size": 7, "hash": "dfb7d6ff57ad1a3f7a41d7eaa132da8f", "id": 4}, {"snippet": "The \u201cAdjustment Amount,\u201d which may be positive or negative, shall be equal to (x) the Final Net Working Capital Adjustment Amount minus (y) the Estimated Net Working Capital Adjustment Amount.\n(i) If the Adjustment Amount is a positive number, then (A) Parent and Buyer shall promptly pay, or cause to be paid, to Seller an amount equal to the Adjustment Amount and (B) Parent and Seller shall promptly issue joint written instructions to the Escrow Agent to cause the Escrow Agent to pay the Working Capital Adjustment Escrow Amount, and any proceeds, income and reinvestments thereon (collectively, net of any amounts released from the Escrow Account established to hold the Working Capital Adjustment Escrow Amount, the \u201cWorking Capital Adjustment Escrow Funds\u201d) to an account designated by Seller.\n(ii) If the Adjustment Amount is a negative number, then Parent and Seller shall promptly issue joint written instructions to the Escrow Agent to cause the Escrow Agent to pay from the Working Capital Adjustment Escrow Funds to an account designated by Parent an amount equal to the absolute value of the Adjustment Amount. If the absolute value of the Adjustment Amount is greater than the Working Capital Adjustment Escrow Funds (the amount of such excess, the \u201cExcess Working Capital Adjustment Amount\u201d), then Parent shall have the option, in its sole discretion, to (A) require, pursuant to a written notice delivered to the Escrow Agent and Seller, that the Excess Working Capital Adjustment Amount be released and paid, subject to the terms and conditions of the Escrow Agreement, by the Escrow Agent from the Indemnification Escrow Amount and any proceeds, income and reinvestments thereon (collectively, net of any amounts released from the Escrow Account established to hold the Indemnification Escrow Amount, the \u201cIndemnification Escrow Funds\u201d) (in which case any payment so made shall reduce the Indemnification Escrow Funds by a corresponding amount) or (B) require, pursuant to written notice delivered to Seller, that Seller promptly pay to an account designated by Parent the Excess Working Capital Adjustment Amount. If the absolute value of the Adjustment Amount is less than the Working Capital Adjustment Escrow Funds, then Parent and Seller shall promptly issue joint written instructions to the Escrow Agent to cause the Escrow Agent to pay the remainder of the Working Capital Adjustment Escrow Funds to an account designated by Seller.", "snippet_links": [{"key": "equal-to", "type": "definition", "offset": [69, 77]}, {"key": "final-net-working-capital-adjustment-amount", "type": "definition", "offset": [86, 129]}, {"key": "estimated-net-working-capital-adjustment-amount", "type": "clause", "offset": [144, 191]}, {"key": "the-adjustment", "type": "clause", "offset": [200, 214]}, {"key": "buyer-shall", "type": "clause", "offset": [264, 275]}, {"key": "to-seller", "type": "definition", "offset": [311, 320]}, {"key": "seller-shall", "type": "clause", "offset": [381, 393]}, {"key": "instructions-to-the-escrow-agent", "type": "clause", "offset": [423, 455]}, {"key": "to-pay", "type": "clause", "offset": [482, 488]}, {"key": "working-capital-adjustment-escrow-amount", "type": "definition", "offset": [493, 533]}, {"key": "escrow-account-established", "type": "clause", "offset": [638, 664]}, {"key": "adjustment-escrow-funds", "type": "definition", "offset": [740, 763]}, {"key": "by-seller", "type": "clause", "offset": [791, 800]}, {"key": "by-parent", "type": "clause", "offset": [1052, 1061]}, {"key": "excess-working-capital", "type": "definition", "offset": [1266, 1288]}, {"key": "the-option", "type": "clause", "offset": [1333, 1343]}, {"key": "sole-discretion", "type": "clause", "offset": [1352, 1367]}, {"key": "pursuant-to-a", "type": "clause", "offset": [1385, 1398]}, {"key": "written-notice", "type": "definition", "offset": [1399, 1413]}, {"key": "the-excess", "type": "clause", "offset": [1461, 1471]}, {"key": "the-escrow-agreement", "type": "clause", "offset": [1567, 1587]}, {"key": "agent-from", "type": "definition", "offset": [1603, 1613]}, {"key": "indemnification-escrow-amount", "type": "definition", "offset": [1618, 1647]}, {"key": "indemnification-escrow-funds", "type": "definition", "offset": [1826, 1854]}, {"key": "funds-by", "type": "definition", "offset": [1932, 1940]}, {"key": "corresponding-amount", "type": "definition", "offset": [1943, 1963]}, {"key": "pay-to", "type": "definition", "offset": [2050, 2056]}], "samples": [{"hash": "4qi6QKyPb0v", "uri": "/contracts/4qi6QKyPb0v#adjustment-amount", "label": "Asset Purchase Agreement (Wesco Aircraft Holdings, Inc)", "score": 23.6064338684, "published": true}], "size": 6, "hash": "9b1a7caa08b325af32a4f0c684f857c6", "id": 9}, {"snippet": "As provided in Section 2.7(b), the amount by which Buyer's account is to be credited or charged, as reflected on the Adjustment List.", "snippet_links": [{"key": "adjustment-list", "type": "clause", "offset": [117, 132]}], "samples": [{"hash": "cjol8Y7bSVD", "uri": "/contracts/cjol8Y7bSVD#adjustment-amount", "label": "Asset Purchase Agreement (Childrens Broadcasting Corp)", "score": 18.0, "published": true}, {"hash": "cSHx6jxs86k", "uri": "/contracts/cSHx6jxs86k#adjustment-amount", "label": "Asset Purchase Agreement (American Radio Systems Corp /Ma/)", "score": 18.0, "published": true}, {"hash": "9QgYxhlFwXK", "uri": "/contracts/9QgYxhlFwXK#adjustment-amount", "label": "Asset Purchase Agreement (Ez Communications Inc /Va/)", "score": 18.0, "published": true}], "size": 12, "hash": "c5dbf6a07f3fbfee41b58ecf9d96141d", "id": 2}, {"snippet": "(a) Schedule 2.16 sets forth a sample calculation of the Adjustment Amount and the Target Adjustment Amount as of the Balance Sheet Date (the \u201cSample Closing Statement\u201d), including the asset, liability and other line items and accounting principles used in such calculation, and assuming that all of such asset and liability line items that constitute Mallinckrodt Assets or Mallinckrodt Liabilities under this Agreement will be transferred to Mallinckrodt as of the Distribution.\n(b) Within sixty (60) days after the Distribution Date, Mallinckrodt shall cause to be prepared and delivered to Covidien a statement (the \u201cClosing Statement\u201d) setting forth (i) the Adjustment Amount and the calculation of the Adjustment Amount and (ii) the Target Adjustment Amount and the calculation of the Target Adjustment Amount. The Closing Statement shall be prepared in accordance with the Transaction Accounting Principles, including the use of the same line items and line item entries, set forth on and used in the preparation of the Sample Closing Statement; provided, however, that assets newly acquired and liabilities newly incurred following the date of the Sample Closing Statement which cannot be appropriately placed in line items previously used by Mallinckrodt, but that constitute Mallinckrodt Assets or Mallinckrodt Liabilities, will also be included to the extent consistent with the Transaction Accounting Principles.\n(c) Within thirty (30) days following receipt by Covidien of the Closing Statement, Covidien shall deliver written notice to Mallinckrodt of any dispute Covidien has with respect to the preparation or content of the Closing Statement (the \u201cDispute Notice\u201d); provided, however, that if Covidien does not deliver any Dispute Notice to Mallinckrodt within such thirty (30)-day period, the Closing Statement will be final, conclusive and binding on the Parties. Any Dispute Notice shall (i) set forth in reasonable detail the basis for any dispute included therein, the amounts involved and Covidien\u2019s determination of the Adjustment Amount and/or the Target Adjustment Amount (as applicable) and (ii) include only disagreements based on the Adjustment Amount and/or the Target Adjustment Amount (as applicable) not being calculated properly in accordance with this Agreement or containing mathematical errors. Upon receipt by Mallinckrodt of a Dispute Notice, Mallinckrodt and Covidien shall negotiate in good faith to resolve any dispute set forth therein. If Mallinckrodt and Covidien, such good faith effort notwithstanding, fail to resolve any such dispute within fifteen (15) Business Days following receipt by Mallinckrodt of the Dispute Notice (the \u201cDispute Resolution Period\u201d), then Mallinckrodt and Covidien jointly shall engage, within ten (10) Business Days following the expiration of the Dispute Resolution Period, Ernst & Young LLP or, if Ernst & Young LLP is unavailable or conflicted, another nationally recognized major accounting firm selected jointly by Covidien and Mallinckrodt (the \u201cIndependent Accounting Firm\u201d) to resolve any such dispute. If Ernst & Young LLP is unavailable or conflicted and Covidien and Mallinckrodt are unable to agree on the Independent Accounting Firm, then each of Covidien and Mallinckrodt shall select a nationally recognized major accounting firm, and the two (2) firms will mutually select a third nationally recognized major accounting firm to serve as the Independent Accounting Firm. As promptly as practicable, and in any event not more than fifteen (15) days following the engagement of the Independent Accounting Firm, Mallinckrodt and Covidien shall each prepare and submit a presentation detailing each Party\u2019s complete statement of proposed resolution of each issue still in dispute to the Independent Accounting Firm. Mallinckrodt and Covidien shall cause the Independent Accounting Firm to, as soon as practicable after the submission of the presentations described in the immediately preceding sentence and in any event not more than thirty (30) days following such presentations, make a final determination, binding on the Parties, of the appropriate amount of each of the line items that remain in dispute as indicated in the Dispute Notice. With respect to each disputed line item, such determination, if not in accordance with the position of either Covidien or Mallinckrodt, shall not be in excess of the higher, nor less than the lower, of the amounts set forth by Mallinckrodt in the Closing Statement or by Covidien in the Dispute Notice, as applicable. Notwithstanding the foregoing, the scope of the disputes to be resolved by the Independent Accounting Firm shall be limited to whether any determination of the Adjustment Amount and/or the Target Adjustment Amount (as applicable) was properly calculated in accordance with the Transaction Accounting Principles, and the Independent Accounting Firm is not to make any other determination, including any determination as to whether GAAP was followed, to the extent GAAP is inconsistent with the Transaction Accounting Principles. All fees and expenses relating to the work, if any, to be performed by the Independent Accounting Firm shall be borne equally by Covidien and Mallinckrodt. All determinations made by the Independent Accounting Firm, and the Closing Statement, as modified by the Independent Accounting Firm, will be final, conclusive and binding on the Parties, absent fraud or manifest error.\n(d) For purposes of complying with the terms set forth in this Section 2.16, Mallinckrodt and Covidien shall cooperate with and make available to each other and their respective Representatives all information, records, data and working papers, in each case, to the extent related to the Mallinckrodt Assets, Mallinckrodt Liabilities or Mallinckrodt Business, and shall permit access to its facilities and personnel, as may be reasonably required in connection with the preparation and analysis of the Closing Statement and the resolution of any disputes thereunder.\n(e) If the Adjustment Amount, as finally determined pursuant to Section 2.16(c), is greater than the Target Adjustment Amount, as finally determined pursuant to Section 2.16(c), by at least $20 million, then Mallinckrodt shall pay or cause to be paid an amount in cash equal to the difference from the first dollar (i.e., without regard to the $20 million threshold) to Covidien by wire transfer of immediately available funds to an account or accounts designated in writing by Covidien to Mallinckrodt. If the Adjustment Amount, as finally determined pursuant to Section 2.16(c), is less than the Target Adjustment Amount, as finally determined pursuant to Section 2.16(c), by at least $20 million, then Covidien shall pay or cause to be paid an amount in cash equal to the difference from the first dollar (i.e., without regard to the $20 million threshold) to Mallinckrodt by wire transfer of immediately available funds to an account or accounts designated in writing by Mallinckrodt to Covidien. Any such payment pursuant to this Section 2.16(e) is to be made within five (5) Business Days of the date on which the Adjustment Amount and the Target Adjustment Amount have been finally determined pursuant to this Section 2.16.", "snippet_links": [{"key": "calculation-of-the", "type": "clause", "offset": [38, 56]}, {"key": "target-adjustment-amount", "type": "definition", "offset": [83, 107]}, {"key": "balance-sheet-date", "type": "clause", "offset": [118, 136]}, {"key": "sample-closing-statement", "type": "definition", "offset": [143, 167]}, {"key": "the-asset", "type": "clause", "offset": [181, 190]}, {"key": "line-items", "type": "definition", "offset": [212, 222]}, {"key": "and-liability", "type": "clause", "offset": [311, 324]}, {"key": "mallinckrodt-assets", "type": "definition", "offset": [352, 371]}, {"key": "liabilities-under-this-agreement", "type": "clause", "offset": [388, 420]}, {"key": "after-the-distribution-date", "type": "clause", "offset": [508, 535]}, {"key": "be-prepared", "type": "clause", "offset": [565, 576]}, {"key": "the-closing-statement", "type": "clause", "offset": [817, 838]}, {"key": "in-accordance-with", "type": "definition", "offset": [857, 875]}, {"key": "transaction-accounting-principles", "type": "definition", "offset": [880, 913]}, {"key": "preparation-of-the", "type": "clause", "offset": [1008, 1026]}, {"key": "following-the", "type": "definition", "offset": [1130, 1143]}, {"key": "date-of", "type": "clause", "offset": [1144, 1151]}, {"key": "appropriately-placed", "type": "definition", "offset": [1197, 1217]}, {"key": "to-the-extent", "type": "clause", "offset": [1356, 1369]}, {"key": "consistent-with-the", "type": "clause", "offset": [1370, 1389]}, {"key": "within-thirty", "type": "clause", "offset": [1429, 1442]}, {"key": "notice-to", "type": "clause", "offset": [1540, 1549]}, {"key": "with-respect-to", "type": "clause", "offset": [1591, 1606]}, {"key": "content-of-the", "type": "clause", "offset": [1626, 1640]}, {"key": "binding-on-the-parties", "type": "clause", "offset": [1859, 1881]}, {"key": "the-basis", "type": "clause", "offset": [1943, 1952]}, {"key": "determination-of-the-adjustment-amount", "type": "clause", "offset": [2023, 2061]}, {"key": "based-on", "type": "definition", "offset": [2150, 2158]}, {"key": "agreement-or", "type": "definition", "offset": [2287, 2299]}, {"key": "upon-receipt", "type": "clause", "offset": [2332, 2344]}, {"key": "a-dispute-notice", "type": "clause", "offset": [2364, 2380]}, {"key": "negotiate-in-good-faith", "type": "definition", "offset": [2414, 2437]}, {"key": "good-faith-effort", "type": "definition", "offset": [2515, 2532]}, {"key": "dispute-resolution-period", "type": "definition", "offset": [2679, 2704]}, {"key": "expiration-of-the", "type": "clause", "offset": [2805, 2822]}, {"key": "ernst-young", "type": "definition", "offset": [2850, 2863]}, {"key": "nationally-recognized", "type": "definition", "offset": [2931, 2952]}, {"key": "independent-accounting-firm", "type": "definition", "offset": [3027, 3054]}, {"key": "the-independent", "type": "clause", "offset": [3189, 3204]}, {"key": "to-serve", "type": "definition", "offset": [3416, 3424]}, {"key": "engagement-of", "type": "clause", "offset": [3552, 3565]}, {"key": "each-party", "type": "clause", "offset": [3680, 3690]}, {"key": "statement-of", "type": "clause", "offset": [3702, 3714]}, {"key": "proposed-resolution", "type": "definition", "offset": [3715, 3734]}, {"key": "each-issue", "type": "clause", "offset": [3738, 3748]}, {"key": "in-dispute", "type": "definition", "offset": [3755, 3765]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [3876, 3898]}, {"key": "submission-of-the", "type": "clause", "offset": [3909, 3926]}, {"key": "final-determination", "type": "definition", "offset": [4074, 4093]}, {"key": "appropriate-amount", "type": "definition", "offset": [4126, 4144]}, {"key": "the-line", "type": "clause", "offset": [4156, 4164]}, {"key": "as-indicated", "type": "definition", "offset": [4194, 4206]}, {"key": "disputed-line-item", "type": "definition", "offset": [4251, 4269]}, {"key": "such-determination", "type": "definition", "offset": [4271, 4289]}, {"key": "the-position", "type": "clause", "offset": [4317, 4329]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [4548, 4577]}, {"key": "the-disputes", "type": "clause", "offset": [4592, 4604]}, {"key": "fees-and-expenses", "type": "definition", "offset": [5080, 5097]}, {"key": "relating-to", "type": "definition", "offset": [5098, 5109]}, {"key": "the-work", "type": "definition", "offset": [5110, 5118]}, {"key": "performed-by", "type": "clause", "offset": [5134, 5146]}, {"key": "manifest-error", "type": "definition", "offset": [5437, 5451]}, {"key": "for-purposes-of", "type": "clause", "offset": [5457, 5472]}, {"key": "complying-with", "type": "clause", "offset": [5473, 5487]}, {"key": "the-terms", "type": "definition", "offset": [5488, 5497]}, {"key": "cooperate-with", "type": "clause", "offset": [5562, 5576]}, {"key": "available-to", "type": "definition", "offset": [5586, 5598]}, {"key": "respective-representatives", "type": "definition", "offset": [5620, 5646]}, {"key": "all-information", "type": "clause", "offset": [5647, 5662]}, {"key": "working-papers", "type": "definition", "offset": [5682, 5696]}, {"key": "each-case", "type": "definition", "offset": [5701, 5710]}, {"key": "related-to", "type": "clause", "offset": [5726, 5736]}, {"key": "mallinckrodt-business", "type": "definition", "offset": [5790, 5811]}, {"key": "access-to", "type": "definition", "offset": [5830, 5839]}, {"key": "facilities-and-personnel", "type": "clause", "offset": [5844, 5868]}, {"key": "in-connection-with", "type": "clause", "offset": [5900, 5918]}, {"key": "preparation-and", "type": "clause", "offset": [5923, 5938]}, {"key": "finally-determined", "type": "definition", "offset": [6053, 6071]}, {"key": "pursuant-to-section", "type": 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