Payables Amount definition

Payables Amount means the aggregate amount of all accounts payable owed by the Buyer or any of its Affiliates to the Company or any of its Subsidiaries as of the Closing Date.

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Payables Amount means the sum of (i) the amount of accrued but unpaid costs, expenses and other amounts owed to or otherwise in favor of a Person other than the Sellers who is a party to the Other Agreements as of and including the day immediately prior to the Closing Date under each of the Other Agreements to be transferred by the Sellers as of the Closing, (ii) the amount of accrued but unpaid costs, expenses and other amounts owed to or otherwise in favor of any service provider to the Business as of and including the day immediately prior to the Closing Date and (iii) the amount of unpaid base salary for Corporate Employees who become Transferred Employees in respect of any period prior to the Closing Date.

Payables Amount means, to the extent positive, the dollar amount equal to (a) the accounts payables and accrued liabilities of the Company and the Company Subsidiaries as of the Closing Date (other than any accounts payable or accrued liabilities for Closing Date Indebtedness, Transaction Expenses, Prorated Company 2010 Bonuses or Retention Bonuses), in each case calculated in accordance with GAAP, minus (b) $4,000,000. If such amount is not a positive number, then the Payables Amount shall be deemed to be zero.

Examples of Payables Amount in a sentence

If the aggregate of the amounts paid by CFC on account of the payables is more than the Estimated Payables Amount, USSC shall pay CFC the difference on or before the tenth day after the Reconciliation Date.
The Purchase Price less the Closing Seller’s Group Payables Amount shall hereinafter be referred to as “Cash Purchase Price”.
In making such calculation, the Accounting Referee shall consider only those items or amounts in the Final Closing Statement and the Purchaser’s calculation of the Closing Seller’s Group Payables Amount, the Closing Net Working Capital, the Closing Cash, the Closing Indebtedness or the Closing Seller Transaction Expenses and the Purchase Price as to which the Seller has disagreed.
Notwithstanding anything herein to the contrary, Purchasers do not assume responsibility for the payment of any of the payables of Sellers except to the extent CFC has agreed to apply the Estimated Payables Amount received by it to the payables.
If the aggregate of the amounts paid by CFC on account of the payables is less than the Estimated Payables Amount, CFC shall pay USSC the difference on or before the tenth day after the Reconciliation Date.
CFC shall apply the Estimated Payables Amount to the payment of the payables of CAC and/or USSC arising from the purchase of assets by one or both of them in connection with the Business on or before the date of the Closing and the operation of the Business on or before the date of the Closing.
Purchasers attorneys shall be deemed authorized to disburse the "Estimated Payables Amount" to CFC on the date of the Closing and thereafter shall be free of any and all responsibilities with respect to such amount.
The Initial Purchase Price less the Initial Seller’s Group Payables Amount shall hereinafter be referred to as “Initial Cash Purchase Price”.
If the Prepaids Amount exceeds the Pre-Closing Payables Amount by any amount (the “Prepaids Excess Amount”), then Purchaser shall pay (i) the Prepaids Excess Amount, and (ii) the entire Holdback Amount, to the Shareholders’ Representative for distribution to the Shareholders by wire transfer of immediately available funds within seven (7) days of the Payables Determination Date.
As soon as practicable after the Closing, and in no event later than three Business Days after the Closing Date, Buyer shall put Alphatec Pacific in sufficient funds and cause Alphatec Pacific to repay in cash the TP Payables Amount to Alphatec Spine.

More Definitions of Payables Amount

Payables Amount means the amount of Payables determined in accordance with United States generally accepted accounting principles applied on a basis consistent with the application of such principles in the preparation of the Financial Statements. The Payables Amount shall include an accrual equal to 50% of the amount of additional work and credit to be provided by Seller pursuant to its February 14, 2002 letter agreement Axcelis.