Final Closing Accounts definition
Examples of Final Closing Accounts in a sentence
The advance payment to [*.*] pursuant to the [*.*] entered into between [*.*] and [*.*] and with effective date [*.*] shall be reflected as an other current asset in the Closing Accounts and Final Closing Accounts in an of amount of [*.*] [*.*].
Specifically, with respect to the project under the [*.*] dated [*.*] with [*.*], the net work-in-progess project orders (POC) shall be deemed [*.*] in the Closing Accounts and the Final Closing Accounts.
The Purchase Price will be calculated on the basis of the Closing Accounts or, if any, of the Final Closing Accounts after the Closing Date.
The Purchaser will not be entitled to indemnification from Seller for any Losses to the extent that such Losses have been reflected as a deduction in the Final Closing Accounts.
Transaction Companies are reflected properly on their Books and Records, are valid receivables (excluding provisions for doubtful debts) which as at the Closing Date are not subject to setoffs or counterclaims pending at the Closing Date, are current and collectible, and are capable of being collected in accordance with their terms at their recorded amounts, subject only to the reserve for bad debts set forth on the face of the Final Closing Accounts.
All Taxes incurred by the Group Companies on or before the Closing Date have been duly paid or are fully reflected in the Final Closing Accounts.
The Post-Closing Statement shall fairly present the Final Closing Cash and Final Closing Accounts Receivable of the Company as of the Closing Date.
The trade accounts receivable and trade accounts payable as shown in the Consolidated Financial Statement and the Final Closing Accounts have payment terms that are in line with normal industry levels in the respective countries and are maintained in the ordinary course of business of the Group.
Within five Business Days after Buyer’s delivery of such summary to Stockholders Representative, Buyer shall deposit with the Escrow Agent, or if there is a separate Paying Agent, with such Paying Agent, for payment to the Stockholders as the Per Share A/R Adjustment Amount in accordance with this Agreement, a cash amount equal to the amount, if any, by which the Collected A/R exceeds (i) the Final Closing Accounts Receivable less (ii) the Closing A/R Reserves (the “Gross A/R Adjustment Amount”).
All inventory including consignment stock of the Group consists of a quality and quantity usable and salable in the ordinary course of business, except for obsolete items and items of below-standard quality, all of which have been written off or written down in accordance with IFRS in the Final Closing Accounts, as the case may be.