Prepaid Assets definition
Examples of Prepaid Assets in a sentence
Prepaid Assets – These assets represent the amounts paid to a vendor pursuant to a contract to design, transition, and implement new line-of-business, general ledger accounting system, and payroll administration systems.
IV.A: Divestitures: Prepaid Assets; Memorandum Opinion, 2020 U.S. Dist.
The Approval Order shall further provide that (x) any Real Property, Personal Property, Prepaid Assets and Inventory relating to the Assumed Contracts or Retained Contracts that are later designated as Assumed Contracts shall be deemed Acquired Assets and (y) any Real Property, Personal Property, Prepaid Assets and Inventory relating to the Rejected Contracts or Retained Contracts that are later designated as Rejected Contracts are rejected by the Sellers shall be deemed Excluded Assets.
Schedule 3.8(c)(2) to the Seller Disclosure Letter contains a true and complete list of all Prepaid Assets of Seller as of the date of this Agreement (which schedule will be updated to reflect Prepaid Assets of Seller as of the Closing Date by Seller and delivered to Buyer at least one Business Day prior to the Closing Date).
Prepaid Assets consist primarily of prepaid consulting fees, insurance, maintenance and leases and reflect the April 30, 2011 actual balance.