FTL Reference Balance Sheet definition
Examples of FTL Reference Balance Sheet in a sentence
Sellers covenant to prepare the FTL Reference Balance Sheet as promptly as practicable consistent with good business practices.
If the Net Working Capital as reflected on the FTL Reference Balance Sheet is equal to or greater than $540,000,000 but would be less than $540,000,000 if adjusted to reflect such transactions, then the Purchase Price to be paid at Closing shall be reduced by the amount that such Net Working Capital (as adjusted to reflect such transactions) is less than $540,000,000.
If the Net Working Capital as reflected on the FTL Reference Balance Sheet is less than $540,000,000, then the Purchase Price to be paid at Closing shall be reduced by the amount of such Working Capital Assets used in such transactions.
If the Net Working Capital as reflected on the FTL Reference Balance Sheet is less than $540,000,000, then the Purchase Price to be paid at Closing shall be reduced by the amount of such shortfall.
The FTL Final Balance Sheet shall be prepared by Purchaser in good faith in accordance with GAAP applied consistently with Sellers' past practices and with the practices applied in preparation of the FTL Reference Balance Sheet, provided, however, that the FTL Final Balance Sheet, from which the Working Capital Schedule is prepared, shall reflect as assets only FTL Assets and shall reflect as liabilities only FTL Liabilities.
In no event shall the FTL Reference Balance Sheet Date be more than 50 days prior to the scheduled Closing Date.
Not less than five Business Days prior to the scheduled Closing Date, Sellers will deliver to Purchaser a schedule showing all transactions after the FTL Reference Balance Sheet Date in which any Working Capital Assets were used to pay, satisfy, or discharge any Liability that was not a Working Capital Liability when so paid, satisfied or discharged.