Estimated Payment definition
Examples of Estimated Payment in a sentence
During the Closing Statement Review Period, Sellers and their Representatives shall have the right to inspect the Company’s books and records and other documents and materials reasonably requested by Sellers, during normal business hours at the Company’s offices and upon reasonable prior notice, solely for purposes reasonably related to the determination of the Actual Working Capital, Actual Indebtedness, Actual Cash, Actual Transaction Expenses, and the resulting Estimated Payment Adjustment.
Seller authorizes Parkside to debit the Estimated Payment from the Account each business day/week/month by either electronic fund transfer services and/or “ACH” payments.
The Closing Statement Objection Notice shall specify the items in the Closing Statement disputed by Sellers and shall describe in reasonable detail the basis for each such objection, as well as the amount in dispute (and Sellers’ proposed calculation thereof in accordance with the definitions of Cash, Current Assets, Current Liabilities, Estimated Payment Adjustment, Indebtedness, Transaction Expenses, and Working Capital herein and the Working Capital Methodology).
Seller understands that it is responsible for ensuring that the Estimated Payment amount is available in the Account each business day/week/month or advising Parkside prior to each daily/weekly/monthly withdrawal of a shortage of funds.