Common use of Adjustment Amounts Clause in Contracts

Adjustment Amounts. The “Corp Adjustment Amount” equals 50% of the net increase to, or net decrease from, the GLGTCO Working Capital between the Balance Sheet Date and the Effective Date. The “LP Adjustment Amount” equals 50% of the net increase to, or net decrease from, the GLGTLP Working Capital between the Balance Sheet Date and the Effective Date. For purposes of clarity, an increase in GLGTCO Working Capital or GLGTLP Working Capital shall be represented by a positive number and a decrease in GLGTCO Working Capital or GLGTLP Working Capital shall be represented by a negative number.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (El Paso Corp/De), Purchase and Sale Agreement (Tc Pipelines Lp)