Common use of Calculation of Closing Net Assets Clause in Contracts

Calculation of Closing Net Assets. (a) As soon as practicable following the Closing, Buyer shall, with the cooperation and assistance of Seller, prepare a balance sheet containing a statement of the Closing Net Assets which it shall deliver to a nationally recognized firm of certified public accountants engaged by the Buyer ("Buyer's Accountants") to perform an audit of the same. As soon as practicable thereafter, but in no event later than ninety (90) days following the Closing Date, Buyer's Accountants shall deliver an audited balance sheet to the Seller containing a statement of the Closing Net Assets, determined according to the principles set forth in this Agreement (hereinafter the "Proposed Closing Balance Sheet").