Closing Net Fixed Assets definition
Closing Net Fixed Assets means property, plant, equipment and other fixed assets at cost, less accumulated depreciation, in each case as reflected on the Closing Balance Sheet; provided that none of such property, plant and equipment or other fixed assets shall have been re-valued since the Balance Sheet Date.
Closing Net Fixed Assets means the net fixed assets of the Business as of the Closing Date, as set forth on the Closing Statement. If the Closing Net Fixed Assets are less than $27,365,000 (I.E., NET FIXED ASSETS AS OF MAY 31, 2000), then the Net Fixed Assets Adjustment shall be a negative number for purposes of determining the Closing Adjustment.
Examples of Closing Net Fixed Assets in a sentence
For purposes of this Agreement, "Net Fixed Assets Adjustment" shall mean the amount by which the Closing Net Fixed Assets of the Company are more or less than $27,365,000 (I.E., NET FIXED ASSETS AS OF MAY 31, 2000).
If the Closing Net Fixed Assets are less than $27,365,000 (I.E., NET FIXED ASSETS AS OF MAY 31, 2000), then the Net Fixed Assets Adjustment shall be a negative number for purposes of determining the Closing Adjustment.
For purposes of this Agreement, "Closing Net Fixed Assets" shall mean the net fixed assets of the Business as of the Closing Date, as set forth on the Closing Statement.