Connected Receivables definition
Connected Receivables means the aggregate amount of all outstanding Indebtedness owed by the Seller or persons Connected with the Seller (on the one hand) to the Target Companies (on the other hand) as at the close of business on the Closing Date but excluding: (a) any item which falls to be included in calculating Excess Cash, Third Party Debt or Working Capital; or (b) any outstanding Indebtedness owed by IPGL (on the one hand) to the Target Companies (on the other hand) in respect of IPGL’s customer trading account (customer account number 9I100) with City Index Limited and which are desegregated funds; or (c) any outstanding Indebtedness owed by M▇▇▇▇▇▇ ▇▇▇▇▇▇▇ (on the one hand) to the Target Companies (on the other hand) in respect of M▇▇▇▇▇▇ ▇▇▇▇▇▇▇’▇ customer trading account (customer account number 8S003) with City Index Limited and which are desegregated funds;
Connected Receivables means the aggregate amount of all outstanding Indebtedness owed by the Seller or persons Connected with the Seller (on the one hand) to the Target Companies (on the other hand) as at the close of business on the Closing Date but excluding: (a) any item which falls to be included in calculating Excess Cash, Third Party Debt or Working Capital; or (b) any outstanding Indebtedness owed by IPGL (on the one hand) to the Target Companies (on the other hand) in respect of IPGL’s customer trading account (customer account number 9I100) with City Index Limited and which are desegregated funds; or (c) any outstanding Indebtedness owed by Michael Spencer (on the one hand) to the Target Companies (on the other hand) in respect of Michael Spencer’s customer trading account (customer account number 8S003) with City Index Limited and which are desegregated funds;