Net Current Assets Amount definition

Net Current Assets Amount means the sum, on an aggregated basis for the Group, representing the value of Stock, Trade Debtors, 50% of the Carry-back Receivable Proceeds the amount of the asset required to be included in the Net Current Assets Statement in respect of the Carry-back Receivable and Cash minus Creditors, Tax, Long Term Liabilities and Provisions as at the Completion Date as set out in the Net Current Assets Statement;
View Source

Examples of Net Current Assets Amount in a sentence

  • Seven Seas will not permit current assets less current liabilities (without giving effect to Eligible Securities shown on the balance sheet of Seven Seas) as determined in accordance with GAAP ("Net Current Assets Amount") to be (i) less than $10 million for the period from the issue date of the Notes to November 15, 1998 and (ii) less than $5 million for the period from November 16, 1998 to May 15, 1999.

  • Buyer, on the one hand, and Sellers, on the other hand, shall each pay their own expenses of preparing and analyzing the Final Net Current Assets Amount and resolving objections thereto.

  • To establish the Net Current Assets Amount a closing year end procedure shall be undertaken at Completion which conforms to the closing year end procedure undertaken with respect to the Accounts in relation to those items to be included in the determination of the Net Current Assets Statement.

  • The Net Current Assets Amount proposed by Buyer, as adjusted by agreement of Sellers and Buyer or finally determined by the Accountants, as applicable, to reflect the resolution of any timely objections made thereto by Sellers in accordance with this paragraph, shall constitute the “Final Net Current Assets Amount” and shall be binding on the parties hereto.

  • Buyer’s statement of the Net Current Assets Amount shall be deemed accepted by Sellers and binding unless Sellers send Buyer a written objection thereto within thirty (30) days following Sellers’ receipt thereof.

  • Seven Seas shall furnish to the Trustee an Officers' Certificate indicating compliance with the terms of this provision promptly following the determination of the Net Current Assets Amount at the end of each financial quarter of Seven Seas ending on or before May 15, 1999.