Common use of Contribution Adjustment Clause in Contracts

Contribution Adjustment. If the amount of the sum of the Closing Net Working Capital Amount minus the Closing Indebtedness minus the Actual Retention Bonuses minus Actual Sales Bonuses minus the Actual U.K. Funding Amount, minus the Net Interim Period Adjustment Amount, if any is (x) less than the sum of the Estimated Closing Net Working Capital Amount minus Estimated Closing Indebtedness minus the Estimated Retention Bonuses minus the Estimated Sales Bonuses minus the Estimated U.K. Funding Amount, minus the Estimated Net Interim Period Adjustment Amount, if any, then Seller shall pay to the Company an amount equal to such shortfall (the "Seller Contribution Adjustment") or (y) greater than the sum of the Estimated Closing Net Working Capital Amount minus Estimated Indebtedness minus the Estimated Retention Bonuses minus Estimated Sales Bonuses minus the Estimated U.K. Funding Amount, minus the Estimated Net Interim Period Adjustment Amount, if any, then the Company shall pay to Seller an amount equal to such excess (the "Company Contribution Adjustment").

Appears in 2 contracts

Sources: Merger Agreement (Imc Global Inc), Merger Agreement (Salt Holdings Corp)

Contribution Adjustment. If the amount of the sum ----------------------- of the Closing Net Working Capital Amount minus the Closing Indebtedness minus the Actual Retention Bonuses minus Actual Sales Bonuses minus the Actual U.K. Funding Amount, minus the Net Interim Period Adjustment Amount, if any is (x) less than the sum of the Estimated Closing Net Working Capital Amount minus Estimated Closing Indebtedness minus the Estimated Retention Bonuses minus the Estimated Sales Bonuses minus the Estimated U.K. Funding Amount, minus the Estimated Net Interim Period Adjustment Amount, if any, then Seller shall pay to the Company an amount equal to such shortfall (the "Seller Contribution Adjustment") or (y) greater than the sum of the Estimated Closing Net Working Capital Amount minus Estimated Indebtedness minus the Estimated Retention Bonuses minus Estimated Sales Bonuses minus the Estimated U.K. Funding Amount, minus the Estimated Net Interim Period Adjustment Amount, if any, then the Company shall pay to Seller an amount equal to such excess (the "Company Contribution Adjustment").

Appears in 1 contract

Sources: Merger Agreement (GSL Corp)