Examples of Guaranteed Net Worth in a sentence
In the event that the Final Net Worth is more than the Guaranteed Net Worth, the Buyer shall within 15 days pay the amount of such excess in cash to the Seller.
In the event that the Final Net Worth is less than the Guaranteed Net Worth, the Seller shall within 15 days refund the amount of such deficiency in cash to Buyer.
Within 30 days after the IPO Closing Date, the Buyer and Seller shall adjust the Purchase Price of the Assets as set forth in Sections 2.4 and 2.5, and the Buyer shall deliver to Seller, or Seller shall deliver to Buyer, cash equal to the differential between the Guaranteed Net Worth and the Final Net Worth, if any.
The term "Guaranteed Net Worth" shall mean the amount of $955,822.
If the Final Net Worth of Seller as finally determined pursuant to Section 2.4 shall be less than the Guaranteed Net Worth, then the original principal amounts of Note 1 and Note 2 shall be decreased as follows: Note 1 shall be decreased by 33 and 1/3% of the amount of the increase and Note 2 shall be decreased by 66 and 2/3% of the amount of the increase.