Missing Asset definition
Examples of Missing Asset in a sentence
The Surviving Corporation shall pay for such Missing Asset, use or replacement asset at a cost substantially equivalent to the historical cost allocated to the Spinco Business for the Spinco Business’ use of such Missing Asset in order that Spinco shall, consistent with past practice, receive the benefits and bear the economic burdens of such Missing Asset as closely as possible to historical practice.
NewCo, or such member of the Energy Supply Group as NewCo reasonably designates, shall pay for such use of such Missing Asset at a cost substantially equivalent to the historical cost allocated to the Energy Supply Business for the Energy Supply Business’ use of such Missing Asset in order that NewCo shall, consistent with past practice, receive the benefits and bear the economic burdens of such Missing Asset as closely as possible to historical practice.
For purposes of this Agreement, the term “Missing Assets Amount” means the book value of a Missing Asset as set forth in the Closing Balance Sheet as finally determined pursuant to Section 1.6(c) multiplied by a ratio, the numerator of which shall be the amount of the Cash Purchase Price and the denominator of which shall be the total book value of all Acquired Assets as set forth in the Closing Balance Sheet as finally determined pursuant to Section 1.6(c).
The relevant Seller agrees to bear the cost of all transfer taxes payable in connection with the transfer of the Missing Asset.