Definition of Pre-Closing Tax Accrual Amount


Pre-Closing Tax Accrual Amount means, with respect to the Target Companies, the amount of Taxes (excluding Payroll Taxes and Tangible Property Taxes) payable as of the Closing, as determined in a manner consistent with the Target Companies practices for determining such Taxes (excluding Payroll Taxes and Tangible Property Taxes) payable; provided that if as of the Closing, the Target Companies have prepaid Taxes (excluding Payroll Taxes and Tangible Property Taxes) rather than Taxes (excluding Payroll Taxes and Tangible Property Taxes) payable, then the "Pre-Closing Tax Accrual Amount" shall be a negative number equal to the amount of such prepaid Taxes (excluding Payroll Taxes and Tangible Property Taxes).
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Examples of Pre-Closing Tax Accrual Amount in a sentence

The Estimated Closing Statement shall also include (A) an invoice or other document issued by each Person owed Selling Expenses, which sets forth (i) the amounts required to pay in full all Selling Expenses owed to such Person on the Closing Date and (ii) the wire transfer instructions for the payment of such Selling Expenses to such Person (collectively, the "Selling Expenses Invoices") and (B) the Pre-Closing Tax Accrual Amount.