Current Operating Liabilities definition
Current Operating Liabilities means the current portion of Sellers' trade accounts payable, cash overdrafts, accrued payroll, accrued payroll taxes, advance deposits, accrued sales and use taxes, accrued operating expenses and other general current operating liabilities other than the Excluded Liabilities.
Current Operating Liabilities is calculated as set forth in Section 7.2(e) of the Company Disclosure Schedule.
Current Operating Liabilities means, as of the Effective Time, accounts payable, net of any intercompany payables, accrued expenses, and other current liabilities.
Examples of Current Operating Liabilities in a sentence
Prior to the date hereof, the Company has delivered to Purchaser the Company’s good faith estimate of the Current Operating Assets and Current Operating Liabilities and based on such estimates, the Company’s good faith estimate of the Closing Net Working Capital (the “Estimated Closing Net Working Capital”) and the Estimated Closing Cash Consideration (the “Estimated Closing Statement”).
More Definitions of Current Operating Liabilities
Current Operating Liabilities means all current obligations of Coudersport and Bucktail arising out of the day-to-day operation of the cable systems of Coudersport and Bucktail, to the extent such obligations would be set forth on a balance sheet of such entities prepared as of such date in accordance with generally accepted accounting principles; provided, however, that Current Operating Liabilities shall not include: (v) the Co-Borrowing Debt or any interest thereon, (w) obligations to indemnify, reimburse, advance expenses or hold harmless any officer, director or employee, (x) claims relating to fraud, misrepresentation, or similar actions arising on or prior to June 25, 2002, and (y) performance obligations related to the period after March 31, 2005 under contracts not in default. For purposes of this Agreement, “Current Assets” means the sum of: (A) the cash on hand, plus (B) accounts receivable of Coudersport and Bucktail, no part of which (other than an amount of $10 or less) is more than 90 days past due from the first day of the month to which the ▇▇▇▇ for such receivable relates, other than any accounts receivable from Adelphia, which are waived and released, plus (C) the prepaid expenses of which Coudersport and Bucktail can reasonably expect to realize the benefit. All cash collected by Adelphia as manager on behalf of Coudersport and Bucktail during the month of March 2005, to the extent not used to satisfy operating liabilities of Coudersport or Bucktail, shall be paid to Coudersport and Bucktail promptly following the Forfeiture Date. All cash collected by Adelphia as manager on behalf of Coudersport or Bucktail on or after April 1, 2005 shall be governed by Paragraph 13.
Current Operating Liabilities means trade accounts payable, contracts payable, income taxes payable, accrued expenses and other current liabilities, all determined on a consolidated basis in accordance with GAAP.
Current Operating Liabilities are any and all liabilities of the Company arising in the ordinary course of business.