Common use of Final Working Capital Adjustment Clause in Contracts

Final Working Capital Adjustment. (a) As soon as reasonably practicable following the Closing Date, but in no event more than sixty (60) days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the “Closing Balance Sheet”) and a statement of Working Capital of the Company as of the Closing Date in substantially the form of the Pre-Closing Closing Statement (the “Closing Statement”), which shall quantify in reasonable detail the items constituting such Working Capital. The Closing Balance Sheet shall be prepared in accordance with the Agreed Accounting Principles. The Closing Statement will set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments (the “Closing Date Working Capital”). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Statement. Subject to applicable Law, Seller will provide Buyer reasonable access to Seller’s records to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Statement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Monarch Casino & Resort Inc)

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Final Working Capital Adjustment. (ai) As soon as reasonably practicable following the Closing Date, but in no event more later than sixty (60) days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the “Closing Balance Sheet”) and ), a statement of Working Capital of the Company as of the Closing Date in substantially the form of the Pre-Closing Closing Estimated Working Capital Statement (the “Closing Statement”), which shall quantify in reasonable detail the items constituting such Working Capital, including a statement of the actual Transaction Expenses, the HR Transfer Fees and the unpaid Casualty Repair Costs (if applicable). The Closing Balance Sheet shall be prepared in accordance with the Agreed Accounting PrinciplesPrinciples and Section 2.04(a) of the Disclosure Schedules. The Closing Statement will set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments Date (the “Closing Date Working Capital”). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Statement. Subject to applicable Law, Seller will provide Buyer reasonable access to any of Seller’s records to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Statementforegoing items.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Leucadia National Corp)

Final Working Capital Adjustment. (a) As soon as reasonably practicable following the Closing Date, but in no event more than sixty (60) days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the “Closing Balance Sheet”) and a statement of Working Capital of the Company as of the Closing Date in substantially the form of the Pre-Closing Closing Statement (the “Closing Statement”), which shall quantify in reasonable detail the items constituting such Working Capital. The Closing Balance Sheet shall be prepared in accordance with the Agreed Accounting Principles. The Closing Statement will set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments (the “Closing Date Working Capital”). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Statement. Subject to applicable Law, Seller will provide Buyer reasonable access to Seller’s records to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Statement.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Full House Resorts Inc)

Final Working Capital Adjustment. (a) As soon as reasonably practicable following the Closing Date, but in no event more than sixty (60) 60 days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the “Closing Balance Sheet”) and a statement of Working Capital of the Company as of the end of the gaming day on the Closing Date in substantially the form of the Pre-Closing Closing Statement (the “Closing Statement”), which shall quantify in reasonable detail the items constituting such Working Capital. The Closing Balance Sheet shall be prepared in accordance with the Agreed Accounting PrinciplesPrinciples and shall be in substantially the form of Section 2.4 of the Seller Disclosure Letter. The Closing Statement will shall set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments Date (the “Closing Date Working Capital”). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Statement. Subject to applicable Law, Seller will each Party agrees to provide Buyer the other Party reasonable access to Sellersuch Party’s records to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Statement.

Appears in 1 contract

Samples: Interest Purchase Agreement (Full House Resorts Inc)

Final Working Capital Adjustment. (a) As soon as reasonably practicable following the Closing Date, but in no event more than sixty (60) days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the “Closing Balance Sheet”) and a statement of Working Capital of the Company as of the Closing Date in substantially the form of the Pre-Closing Closing Working Capital Statement (the “Closing Working Capital Statement”), which shall quantify in reasonable detail the items constituting such Working Capital. The Closing Balance Sheet shall be prepared in accordance with GAAP and on a basis consistent with the Agreed Accounting Principlesaccounting policies, practices, procedures and principles used in preparing the Balance Sheet. The Closing Working Capital Statement will set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments (the “Closing Date Working Capital”). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Working Capital Statement. Subject to applicable Law, Seller will provide Buyer reasonable access to any of Seller’s records not otherwise available to Buyer as a result of the transactions contemplated by this Agreement, to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Working Capital Statement.

Appears in 1 contract

Samples: Purchase Agreement (Peninsula Gaming, LLC)

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Final Working Capital Adjustment. (a) As soon as reasonably practicable following the Closing Date, but in no event more than sixty (60) days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the “Closing Balance Sheet”) and a statement of Working Capital of the Company as of the Closing Date in substantially the form of the Pre-Closing Closing Statement (the “Closing Statement”), which shall quantify in reasonable detail the items constituting such Working Capital. The Closing Balance Sheet shall be prepared in accordance with the Agreed Accounting PrinciplesPrinciples and Section 2.4 of the Seller Disclosure Letter. The Closing Statement will set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments (the “Closing Date Working Capital”). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Statement. Subject to applicable Law, Seller will provide Buyer reasonable access to any of Seller’s records to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Statement.

Appears in 1 contract

Samples: Purchase Agreement (Churchill Downs Inc)

Final Working Capital Adjustment. (a) As soon as reasonably practicable following the Closing Date, but in no event more than sixty (60) days after the Closing Date, Buyer and Parent shall cause to be prepared and delivered to Seller an unaudited balance sheet of the Company as of the Closing Date in substantially the form of the Pre-Closing Balance Sheet (the "Closing Balance Sheet") and a statement of Working Capital of the Company as of the Closing Date in substantially the form of the Pre-Closing Closing Statement (the "Closing Statement"), which shall quantify in reasonable detail the items constituting such Working Capital. The Closing Balance Sheet shall be prepared in accordance with the Agreed Accounting Principles. The Closing Statement will set forth the aggregate amount of Working Capital of the Company as of the Closing Date, and shall reflect the Adjustments (the "Closing Date Working Capital"). Each of Seller and Buyer shall bear its own expenses in the preparation and review of the Closing Balance Sheet and the Closing Statement. Subject to applicable Law, Seller will provide Buyer reasonable access to Seller’s 's records to the extent such records are reasonably related to the preparation of the Closing Balance Sheet and the Closing Statement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Riviera Holdings Corp)

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