Debt Adjustment. If net indebtedness of the Enterprise is not $500 million immediately prior to or simultaneously with the consummation of the IPO Transaction, then the Percentage shall be adjusted in accordance with the following examples: If net indebtedness of the Enterprise is $500 million immediately prior to or simultaneously with consummation of the IPO Transaction, then the Percentage shall be 7.990% If net indebtedness of the Enterprise is $430 million immediately prior to or simultaneously with consummation of the IPO Transaction, then the Percentage shall be calculated as follows:
Appears in 3 contracts
Sources: Merger Agreement (National Energy Group Inc), Merger Agreement (American Real Estate Partners L P), Merger Agreement (Icahn Carl C Et Al)