CURRENT ASSETS, ETC Sample Clauses

CURRENT ASSETS, ETC. (a) Current assets (including prepayments) are to be included at book value after proper provisions have been made, save that no value will be attributed to:- (i) any asset or prepayment to the extent that it ceases to have any value upon the share capital of the Company ceasing to be owned by the Vendors; or (ii) any surplus or other benefit which might accrue to the Company in respect of any pension schemes; or (iii) any tax losses, tax assets, available to the Company. (b) Any debtors, except any Weatherford debtors and Target Group Company debtors which at the Completion Date have been outstanding for a period of 3 months or more from the earlier of the due date for payment and the date of invoice shall be deemed irrecoverable and shall be written off/provided against in full, except to the extent that such debt is recovered during the period between the Completion Date and the date upon which the Net Asset 129 129