Examples of Estimated Net Worth in a sentence
If the relevant Estimated Net Worth with respect to the POC Companies, the Harwat Interest or the WilPro Interest is greater than the relevant Target Net Worth, then Purchaser shall remit to the applicable Seller on the Closing Date an amount equal to such difference.
If the relevant Estimated Net Worth with respect to the POC Companies, the Harwat Interest or the WilPro Interest is less than the relevant Target Net Worth, then the applicable Seller shall remit to Purchaser on the Closing Date an amount equal to such difference.
The starting point for the Estimated Net Worth Statement and the Closing Net Worth Statement shall be a balance sheet of the Company as of the Net Worth Statement Time, prepared in accordance with SAP in effect as of the Net Worth Statement Time (in each case, a “Subsequent Reference Balance Sheet”) and applied in a manner consistent with the annual audited statutory financial statements of the Company as of and for the year ended December 31, 2017.
The Adjusted Statutory Net Worth for the Estimated Net Worth Statement and the Closing Net Worth Statement shall equal the “surplus as regards policyholders” shown in the corresponding Subsequent Reference Balance Sheet, adjusted to reflect the following additions and/or subtractions (as the case may be and as shown in the calculation below): 1.
The Initial Purchase Price shall be Sixty Million dollars ($60,000,000) in cash (i) less the amount equal to any outstanding Company Debt at Closing, if any; and (ii) increased or decreased by the Estimated Net Worth Adjustment (as defined below), if any.