Net Current Asset definition

Net Current Asset means 49% of the difference between (a) the consolidated amount of current assets of the Target Group companies as shown in the Completion Accounts, and (b) the consolidated amount of current liabilities of the Target Group companies as at Completion as shown in the Completion Accounts (excluding the properties under development, the Sale Debt and any deferred tax liabilities).
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Net Current Asset means Current Assets minus Current Liabilities.
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Net Current Asset means Current Assets minus Current Liabilities. “Net Current Asset Deficit” has the meaning specified in Section 2.3(a). “Party” has the meaning specified in the Recitals to this Agreement.
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Examples of Net Current Asset in a sentence

  • Except as set forth in Schedule 6.12, all Inventory consists of, and will at the Closing Date consist of, a quantity and quality usable and saleable in the ordinary course of business, except for obsolete items and items of below-standard quality, all of which shall be appropriately written-off or written down in accordance with the Inventory Procedures in the Post-Closing Statement of Net Current Asset Value.

  • Gold ▇▇▇▇ shall cooperate with Southern States and its accountants to the extent reasonable and practical in the course of preparing the Post Closing Statement of Net Current Asset Value.

  • In connection with the preparation of the Post-Closing Statement of Net Current Asset Value, Gold ▇▇▇▇ shall be permitted to observe the preparation thereof, and to review all work papers, books and records of Southern States and its accountants associated with such preparation.

  • The results of such physical count and inspection shall be used to determine the value of the Inventory to be set forth on the Post-Closing Statement of Net Current Asset Value.

  • Gold ▇▇▇▇ shall deliver the Pre-Closing Statement of Net Current Asset Value to Southern States at least ten (10) days prior to the Closing Date, for review by Southern States and its accountants.

  • All of Seller's Inventory reflected on the Net Current Asset Disclosure or Closing Date Net Current Asset Disclosure are usable or salable in the ordinary and normal course of business, of which the value is carried at the lower of cost or market and reflects write-offs, write-downs or reserves for damaged, excess or obsolete items in accordance with the historical inventory policy and practices of Seller.

  • All Accounts Receivable reflected on the Net Current Asset Disclosure have arisen in the ordinary course of the Business and are collectible in accordance with their terms net of any respective reserves shown on the Seller's books and records as of the date hereof.

  • If within Two (2) days following delivery of the Net Current Asset Value calculation Seller has not given the Purchaser written notice of its objection as to the Net Current Asset Value calculation (which notice shall state the basis of Seller’s objection), then the Net Current Asset Value calculated by Purchaser shall be binding and conclusive on the Parties and be used in adjusting the Business Consideration to reflect the Net Current Asset Value so determined.

  • If the adjustment provided in Section 1.2(a) requires a payment by Buyer to Seller (after taking into account the cushion provided for in Section 1.3(a), then within ten (10) days of the final determination of the Net Current Asset Value, Buyer shall pay to Bank One, Milwaukee, N.A. an amount equal to such adjustment (the "Adjustment Amount"); provided, that in no event shall the Adjustment Amount payable by Buyer exceed $35,000 (taking into account the cushion).

  • The term "Post-Closing Statement of Net Current Asset Value" shall mean the statement of Net Current Asset Value, calculated as of the Closing Date.