Closing Cash Statement Sample Clauses
The Closing Cash Statement clause defines the requirement for a detailed accounting of the cash position of a business at the time a transaction, such as a sale or acquisition, is finalized. Typically, this clause outlines the process for preparing and delivering a statement that lists all cash and cash equivalents held by the company as of the closing date, often including supporting documentation or reconciliation procedures. Its core practical function is to ensure transparency and accuracy regarding the amount of cash transferred between parties, thereby preventing disputes and ensuring both sides have a clear understanding of the financial position at closing.
Closing Cash Statement. The Closing Cash Statement delivered by Parent pursuant to Section 5.21 will state the amount of Parent's cash and cash equivalents (within the meanings of such terms under GAAP) on the Closing Date, which shall not be less than One Million One Hundred Thousand (US$ 1,100,000) United States Dollars.
Closing Cash Statement. Parent shall prepare and deliver to the Company, at least one (1) Business Day prior to the Closing, a statement (the "Closing Cash Statement"), reasonably acceptable to Parent, which states the amount of cash and cash equivalents (within the meanings of such terms under GAAP) of the Company as of that date, which shall not be less than One Million One Hundred Thousand (US$ 1,100,000) United States Dollars.
Closing Cash Statement. The Closing Cash Statement provided by Company to Parent to confirm whether or not the Company has more than Two Million (US$2,000,000) United States Dollars cash balance on Closing.
Closing Cash Statement. The Closing Cash Statement provided by Parent to the Company will confirm Parent has not less than Five Hundred Thousand (US$ 500,000) United States Dollars in cash or cash equivalents on Closing, minus the Bridge Loans advanced by Parent to the Company, net of provision for payment of Parent's Indebtedness and Parent's accrued liabilities (other than those under Section 7.1(f)).
Closing Cash Statement. Within 90 days after the Closing Date, Survivorco shall cause to be prepared and delivered to Seller a draft statement (the "Final Closing Cash Statement"), setting forth the actual aggregate amount of Cash and Cash Equivalents of Amalco that was outstanding as of the Closing Date (the "Final Closing Cash") converted, if necessary, to U.S. dollars by applying the exchange rate published in the Wall Street Journal for the close of business on the day immediately preceding the Closing Date.
Closing Cash Statement. The Closing Cash Statement delivered by the Company pursuant to Section 5.18 will state the amount of the Company’s cash and cash equivalents (within the meanings of such terms under GAAP) on the Closing Date.
Closing Cash Statement. Within 90 days after the Closing Date, Buyer shall cause to be prepared and delivered to Seller a draft statement (the "Final Closing Cash Statement"), setting forth the actual aggregate amount of Cash and Cash Equivalents of the Target Companies that was outstanding as of the Closing Date (the "Final Closing Cash") converted, if necessary, to U.S. dollars by applying the exchange rate published in the Wall Street Journal for the close of business on the day immediately preceding the Closing Date.