Parent Payable definition
Parent Payable means that certain account payable, owed by the Company to Seller on the Closing Date in the amount of Three Million Seven Hundred Thousand and 00/100 Dollars ($3,700,000.00).
Parent Payable means an amount owed by any Biomet JV Entity to Biomet or one of its Affiliates (other than a JV Entity) or owed by any Merck JV Entity to Merck or one of its Affiliates (other than a JV Entity) in respect of purchases of products in the ordinary course of business prior to the Closing Date;
Parent Payable means the $4,596,000 payable from the Company to the Parent on the June 30, 2007 balance sheet of the Company.
Examples of Parent Payable in a sentence
In the event that all indemnification claims, in the aggregate, made by any Buyer Indemnified Party against Seller exceeds the amount of the Parent Payable, Buyer shall be entitled to payment of any such excess from Seller subject to the terms and limitations of this Article IX.
If a Buyer Indemnified Party is entitled to any indemnification payment from Seller under Section 9.2, the Company shall be entitled to first set-off the full amount of any such payment against any amount then owed to Seller under the Parent Payable.
Company shall have paid to Parent an amount equal to the Parent Payable valued on and as of the Closing Date.