Net Current Position definition

Net Current Position means: --------------------
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Net Current Position means, with respect to any Person, the difference between the (A) aggregate current assets (including cash and cash equivalents (including, in the case of ARI, the cash received on the Accounting Date in consideration of the sale of Subsidiary Shares to URI Sub pursuant to Section 1.1 hereof)), advances, unearned premiums, notes receivable, prepaid expenses and deposits, the fair market value of merchandise inventory (but not parts) held for resale, manufacturers' credits for warranty work performed prior to the Accounting Date, 68% of the Alternative Minimum Tax credit of such Person as of the Accounting Date, 90% of the net operating loss carryforward of the Subsidiary as of the Accounting Date for Canadian federal and Ontario provincial Tax purposes and, with respect to operating leases of equipment for which such Person is a lessee, the net reduction in the amortizable principal balance from the original purchase price to the lessee for such equipment as set forth in the lease, which net reductions are identified and individually quantified on Schedule 2.2(d), but excluding accounts receivable, and (B) aggregate current liabilities (excluding the current portion of long-term debt) of such Person.
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Net Current Position means with respect to Rent-It the difference between the current assets (including all accrued but unbilled revenues) and current liabilities (excluding the current portion of long-term debt) of Rent-It on the Closing Date. For purposes of calculating the Net Current Position, accounts receivable of Rent-It that are less than 90 days old on the Effective Date shall be valued at 100% of their face value, and accounts receivable that are over 89 days old shall be valued at 90% of their face value.
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Examples of Net Current Position in a sentence

  • If ---------------------------- the Representative agrees with the Closing Net Current Position, it shall be accepted as final, binding and conclusive on the parties hereto.

  • Promptly following the Closing Date (but in any event no later than 90 days after the Closing Date), URI shall prepare and deliver to the Representative schedules showing the actual consolidated Net Current Position of the Acquired Companies at the Closing Date ("Closing Net Current Position").

  • Within 60 days after the Closing Date, Buyer will determine the actual Closing Date current assets less current liabilities of the Company ("Net Current Position") and will advise the Company Shareholders of such result.

  • If a notice of objection to the Closing Net Current Position is given by the Representative within seven days after the Representative's receipt of such schedules specifying any objections the Sellers may have (an "Objection Notice"), the ---------------- Representative and URI shall attempt to reconcile such items as are in dispute.

Related to Net Current Position

  • Net Current Assets means for any date of determination the net current assets of such Person at such date of determination calculated as set forth on Exhibit H attached hereto.

  • First Currency has the meaning specified in Section 1.15.

  • Relevant Currency means the currency specified as such or, if none is specified, the currency in which the Notes are denominated;

  • Consolidated Current Ratio means, as of any date of determination, the ratio of Consolidated Current Assets to Consolidated Current Liabilities as of such date.

  • Consolidated Current Assets means, as at any date of determination, the total assets of Company and its Subsidiaries on a consolidated basis which may properly be classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.