Closing Inventory Amount definition

Closing Inventory Amount means the value of the Transferred Inventory at the opening of business on the Closing Date calculated in accordance with the Accounting Principles.

Closing Inventory Amount means, as of the Closing Date, the book value of the Owned Inventory (including, for the avoidance of doubt, the Chinese Owned Inventory) and the EMEA Owned Inventory, net of applicable provisions, that would be required to be reflected on a balance sheet of the Business as of such date prepared in accordance with GAAP applied in a manner consistent with the Nortel Accounting Principles (to the extent consistent with GAAP).”

Closing Inventory Amount means value of the Inventory as of the Closing Date that are included in the Acquired Assets. The Inventory shall be valued at the Seller’s latest invoice cost, net of discounts and slow-moving and obsolete Inventory as agreed by Seller and Buyer.

Examples of Closing Inventory Amount in a sentence

• Prior to delivery of the statement setting forth the Estimated Closing Inventory Amount, Seller shall conduct a physical inventory of the inventory of the Business (and Buyer shall have the right to be present at, and to observe, such physical inventory), and such statement shall be based on such physical inventory.

• Buyer shall have the right to be present to observe and verify the taking of any physical inventory in conjunction with the preparation of Seller’s calculation of the Closing Inventory Amount, and, at any time after Seller’s notice of its calculation of the Closing Inventory Amount but prior to the determination of the Final Inventory Amount in accordance with this Section 2.08, may review and examine the procedures, books, records and work papers of Seller relating to such calculation.

• If Buyer fails to deliver such written notice within such 30-day period, Seller’s calculation of the Closing Inventory Amount shall be the Final Inventory Amount, which shall be binding upon the parties.

• If the Target Closing Inventory Amount exceeds the Final Inventory Amount by more than $100,000, Seller shall pay to Buyer, as an adjustment to the Base Purchase Price, in the manner and with interest as provided in Section 2.09(b), the amount of such excess.

• The Closing Inventory Amount and Final Inventory Amount shall be determined in accordance with GAAP applied consistently with the Seller’s internal management accounting and quality control policies and shall be calculated without giving effect to any changes or adjustments arising from the transactions contemplated by this Agreement or the Ancillary Agreements.

More Definitions of Closing Inventory Amount

Closing Inventory Amount shall have the meaning set forth in Section 1.13(b)(i).

Closing Inventory Amount has the meaning set forth in Section 2.05(b).

Closing Inventory Amount means the net book value of the Inventory included in the Purchased Assets on the Closing Date.

Closing Inventory Amount means the aggregate amount of Inventory of the Company, calculated as of 11:59 p.m. Campinas time on the Closing Date.

Closing Inventory Amount means an amount equal to the value of the Inventory of the Business as of 11:59 pm on the day immediately preceding the Closing Date, net of inventory reserves (e.g., for damaged, lost, stolen, incomplete, or obsolete Inventory), all as determined in accordance with GAAP consistently applied and the Sellers’ past accounting practices.

Closing Inventory Amount means the Inventory Amount as of the Effective Time. “Code” means the Internal Revenue Code of 1986.

Closing Inventory Amount means with respect to each type of Inventory set forth on Schedule 4.07(b)(i), the quantity of such Inventory located at the Facility on the Closing Date.