Operational Liabilities definition

Operational Liabilities means any Liabilities, costs and expenses incurred in connection with the operation of the Business at the Former Queretaro Facility by Purchaser and the Acquired Companies from and after the Closing.

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Operational Liabilities means certain specified day-to-day trading and operational liabilities of African Bank as at the Transaction Effective Date, as determined by the Curator, arising from the Operational Contracts to be transferred to the Issuer (including the Hedging Liabilities, but excluding, for the avoidance of doubt, any remaining liabilities arising out of any other hedging or facility agreements) which have not been settled in the ordinary course. Operational Liabilities will be transferred in full (without any deduction) to the Issuer on the Transaction Effective Date in accordance with sections 54 and 69(2C) of the Banks Act, whilst other sundry operational liabilities not specified for transfer will be treated as Other Senior Claims, if timeously proven;

Operational Liabilities means the liabilities incurred in the operation of the businesses of the Group Companies owed by the Group Companies to third parties other than (i) any members of the Caesars Group or (ii) any Group Companies;

Examples of Operational Liabilities in a sentence

The costs, fees and expenses of the Determining Accountants shall be borne by the BXI Stockholders in the event the report indicates that the Operational Liabilities were understated by more than 5% (provided that Operational Liabilities shall not be deemed to have been understated for this purpose if and to the extent the Stockholders’ Representative agrees to any adjustment prior to submission of the dispute to the Determining Accountants); otherwise ITEX shall bear all such costs, fees and expenses.
If ITEX and the Stockholders’ Representative are unable to reach such agreement during such 30 day period, they shall promptly thereafter cause the Determining Accountants promptly to review the disputed items or amounts for the purpose of calculating the amount of Operational Liabilities.
BXI and the Principal Stockholder hereby jointly and severally represent and warrant to ITEX that as of the date hereof (the “Signing Date”), the Cash Balance is $35,477.00, the Shareholder Debt is $670,947.16, the Intagio Receivable is $258,856.00, the Transition Services Fee is $500,000, and the amount of Operational Liabilities does not exceed $81,000.
If ITEX fails to deliver such a written notice within 90 days following the Signing Date, BXI’s determination of the amount of Operational Liabilities shall be final and binding.
Following receipt of an Operational Liabilities Notice from NDA, the Licensees and the Ultimate Parent Company shall, in relation to each matter specified in the notice, comply with clause 11.6, and the provisions of clause 11.7 shall apply in relation to each matter specified in such notice.
The Cash Amount is calculated as follows: $2,000,000, plus (A) the Cash Balance (as defined in Section 10.7), minus (B) an amount equal to the Shareholder Debt (as defined in Section 10.7), minus (C) an amount equal to the Intagio Receivable (as defined in Section 10.7), minus (D) an amount equal to the Transition Services Fee (as defined in Section 10.7), minus an amount equal to the Operational Liabilities (as defined in Section 10.7) in excess of $81,000.

More Definitions of Operational Liabilities

Operational Liabilities means the liabilities incurred in the operation of the businesses of the Group Companies owed by the Group Companies to third parties other than (i) any members of the

Operational Liabilities means BXI’s liabilities as of the Signing Date solely with respect to Accounts Payable, legal fees and expenses and audit fees incurred as of the Signing Date for legal and audit services provided to BXI as of or prior to the Signing Date, notes payable (other than the Shareholder Debt), any expenses of the Principal Stockholder on behalf of BXI pursuant to the Cost-Sharing Agreement by and between BXI and Intagio Trading Network, Inc., dated as of August 6, 2004 (which compensate the Principal Stockholder for ▇▇ ▇▇▇▇▇▇▇▇▇ services as BXI’s interim president), amounts due to ▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇ Banner with respect to expense reimbursements and monthly consulting payments, amounts due to ▇▇▇ ▇▇▇▇▇▇ & Company, commissions due to Area Directors, in each case only to the extent required to be set forth as a liability on BXI’s balance sheet in accordance with GAAP. Operational Liabilities shall exclude all other categories of liabilities of BXI, including, but not limited to, the items on BXI’s balance sheet referred to as “Deferred revenue,” “Accrued commissions payable to Area Directors” and “Other current liabilities” (to the extent “Other current liabilities” is comprised of “credit balances in accounts receivables,” which amount was $68,334 as of May 31, 2005), Shareholder Debt, the Intagio Receivable, and accruals for BXI’s 2005 audit and tax services.

Operational Liabilities means Liabilities of Insight Parent or its Subsidiaries (other than the Partnership and its Subsidiaries) that are primarily and directly related to the operation of the business of the Partnership and that would ordinarily be direct Liabilities of the Person who was the owner of the Systems (assuming the Systems were managed by an unaffiliated third party). For the avoidance of doubt, Operational Liabilities shall not include any Liabilities primarily related to corporate overhead (including corporate office management, development, internal accounting and finance management).