Net Trade Accounts Payable definition
Net Trade Accounts Payable means the Seller's accounts payable which are part of the Assumed Liabilities in respect of purchases incurred in the ordinary course of business determined in accordance with GAAP. "Accrued Liabilities" shall mean the Seller's accrued liabilities to the extent such accrued liabilities are Assumed Liabilities, including deferred revenue liabilities, determined in accordance with GAAP, provided, however, that Accrued Liabilities shall not include Net Trade Accounts Payable.
Examples of Net Trade Accounts Payable in a sentence
The Buyer will afford to the Seller reasonable access to the books and records in the Buyer's possession which are necessary for the Seller to determine the values as of the Closing Date of the Net Trade Accounts Receivable, Net Trade Accounts Payable and Accrued Liabilities and to complete its financial statements for the period ended December 31, 1999.