Interim Working Capital definition
Examples of Interim Working Capital in a sentence
If Sellers' Representative shall fail either to so notify Purchaser of acceptance by Sellers' Representative, on behalf of Sellers, of the Interim Working Capital Statement or to so notify Purchaser of any such dispute by Sellers' Representative, on behalf of Sellers, within such two-calendar day period, the Interim Working Capital Statement shall be deemed to have been accepted by Sellers' Representative, on behalf of Sellers.
If Sellers' Representative shall notify Purchaser within such two-calendar day period of any dispute by Sellers' Representative, on behalf of Sellers, with respect to the Interim Working Capital Statement, then no adjustment to the Purchase Price shall be made pursuant to this Section 2.09(a).
No later than five (5) Business Days prior to Closing, Sellers shall deliver a statement (the “Interim Working Capital Statement”) to Purchaser setting forth the Interim Working Capital Amount.
In the event of any Interim Working Capital Excess or Interim Working Capital Deficiency, the Closing Payment shall be adjusted as provided in Section 3(b) (such adjustments to the Closing Payment and the Purchase Price, the "Interim Working Capital Adjustment").
The “Adjustment Amount” (which may be a positive or negative number) will be equal to the amount determined by subtracting the Interim Working Capital from the Closing Working Capital; provided, however, that no such positive Adjustment Amount shall exceed two hundred fifty thousand dollars ($250,000.00).
The Sellers and the Purchasers agree that a good faith estimate of the amount of the Closing Net Working Capital is -$596,000 and the resulting amount of the Working Capital Adjustment is $150,000 (the "Interim Working Capital Adjustment").
Notwithstanding anything to the contrary in this Section 1.3, in the event that the Closing shall occur on the first business day of a calendar month or within 2 business days before the end of a calendar month, then the parties agree to forgo the preparation of an Interim Working Capital Statement and the payment of any Stub Period Amount.
On or prior to the fifth business day following the Closing Date, Sabratek and its independent auditors, at Sabratek's cost, shall deliver to Ralin a statement of Stub Period LWI Receivables, Stub Period LWI Payables and Stub Period LWI Payroll (the "Interim Working Capital Statement").
The Interim Working Capital Statement, with respect to the Assets and the Assumed Liabilities, presents fairly in all material respects, the working capital of the Business as of its date and, to the extent possible, was prepared on a consistent basis with the other Financial Statements.
Within five (5) days following the agreement on the Final Closing Balance Sheet and the final determination of Closing Working Capital, Buyer shall pay to Seller in cash the amount by which the Closing Working Capital set forth in the Final Closing Statement exceeds the sum of the Working Capital Initial Payment plus the Interim Working Capital Payment.