Assumed Working Capital definition

Assumed Working Capital means the negative amount of £7,410,000. Barclays Facility: the banking and finance facilities made available by Barclays Bank plc to the Group at Completion, details of the amount required for satisfaction of all outstanding liabilities are set out in Part 3 of Schedule 3. Business: the business carried on by the Company and the Subsidiaries, namely the provision of childcare in day nurseries and the provision of childcare vouchers. Business Day: a day (other than a Saturday, Sunday or public holiday) when banks in the City of London are open for business. Buyer’s Solicitors: Ansons LLP of ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇, Eastern Way, Cannock, WS11 7FJ. CAA 2001: the Capital Allowances ▇▇▇ ▇▇▇▇. Claim: a claim that there has been a breach of any of the Warranties.
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Assumed Working Capital means the difference between (i) the amount of the Purchased Assets that are current assets and (ii) the amount of the Assumed Liabilities that are current liabilities, in each case as shown on the Seller Closing Balance Sheet and consistent with Seller's past classification of assets and liabilities over the preceding five years.
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Examples of Assumed Working Capital in a sentence

  • As of the Closing Date, except for the amounts set forth in the Pay-Off Letter, the Seller Closing Debt listed in Schedule 2.2(b) hereto and the Assumed Working Capital Obligations, Seller shall not have any Debt.

  • Except for the Assumed Working Capital Liabilities and as elsewhere provided under this Agreement, no liability for such contributions, premiums or other payments will attach to the assets of the Business.

  • For the avoidance of doubt, neither the Assumed Working Capital Liabilities nor the Assumed Operating Liabilities shall include any Excluded Liabilities.

  • If the Net Working Capital as reflected on the Final Closing Statement is greater than the Assumed Working Capital (the amount of such excess is hereinafter referred to as the "WORKING CAPITAL SURPLUS"), Buyer shall pay to ChoicePoint an amount equal to the Working Capital Surplus (such payment being hereinafter referred to as a "SURPLUS PAYMENT").

  • On the terms and subject to the conditions set forth herein, at the Closing, Buyer shall assume and discharge or perform when due, all of the Assumed Working Capital Liabilities.

  • Subject to the terms and conditions of this Agreement, the consummation of each of (a) the purchase and sale of the Transferred Working Capital Assets and the assumption of the Assumed Working Capital Liabilities, and (b) the purchase and sale of the Transferred Operating Assets and the assumption of the Assumed Operating Liabilities (collectively, the “Closing”), shall be consummated remotely via email and the execution and delivery of this Agreement by each of the parties.

  • Accordingly, the parties hereto agree that if the Net Working Capital as reflected on the Final Closing Statement is less than the Assumed Working Capital (the amount of such shortfall, if any, is hereinafter referred to as the "WORKING CAPITAL DEFICIT"), ChoicePoint shall pay to Buyer an amount equal to the Working Capital Deficit (such payment being hereinafter referred to as a "DEFICIT PAYMENT").