Primary Working Capital definition

Primary Working Capital means the sum of cash, accounts receivable and inventory less accounts payable, determined as of the close of business on the Closing Date in accordance with the same accounting principles which were used for purposes of preparing the Reference Balance Sheet (as hereinafter defined). As used in this Agreement, "Current Liabilities" means those liabilities of the Company as of the close of business on the Closing Date, which are classified as current liabilities in accordance with generally accepted accounting principles.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Primary Working Capital means the sum of (i) Accounts Receivable, plus (ii) Inventories, minus (iii) accounts payable of the Business, in each case as of October 31, 2004.

Primary Working Capital means the aggregate amount of all Accounts Receivables and Inventory less all Accounts Payables of the In-scope calculation, less the adjustment of the in-scope element of entity R0129 Venator Asia SDN BHD, plus the adjustment of out of scope element of the entity R0114 Venator Pigments (UK) Limited, plus the elimination of the unrealised intercompany profit in inventory;

Examples of Primary Working Capital in a sentence

• As used in this Agreement, "Primary Working Capital" means the sum of cash, accounts receivable and inventory less accounts payable, determined as of the close of business on the Closing Date in accordance with the same accounting principles which were used for purposes of preparing the Reference Balance Sheet (as hereinafter defined).

• If the Actual Closing Net Working Capital is greater than the Estimated Closing Net Working Capital, then the Initial Purchase Price will be adjusted upward by the amount the Actual Closing Net Working Capital exceeds the Estimated Primary Working Capital.

• Schedule 8A(1) hereto sets forth, as of the date hereof, a correct list of each Subsidiary, its jurisdiction of incorporation and its ownership and whether or not, as of the date of this Agreement, such Subsidiary is a borrower or co-obligor with the Company under, or is obligated under any Guaranty with respect to, any Indebtedness of the Company under the Primary Working Capital Facility or any other Material Indebtedness Agreement.

• Schedule 8A(1) hereto sets forth, as of the Restatement Date, a correct list of each Domestic Subsidiary, its jurisdiction of incorporation and its ownership and whether or not, as of the Restatement Date, such Subsidiary is a borrower, co-borrower, obligor or co-obligor with the Company under, or is obligated under any Guaranty with respect to, any Indebtedness of the Company outstanding or incurrable under the Primary Working Capital Facility.

More Definitions of Primary Working Capital

Primary Working Capital means the sum of (i) Net Accounts Receivable*, (ii) Net Inventory*, (iii) Accounts Payable*, and (iv) Advanced ▇▇▇▇▇▇▇▇ and Deposits* “Gross PPE” means Property and Equipment consisting of land, buildings, machinery and equipment as reported in the Company’s US GAAP financial statements *As defined by US GAAP and as reported in the Company’s US GAAP financial statements THIS AGREEMENT (this “Restrictive Covenant Agreement”) is made effective as of the Date of Grant by and between the Company and the Participant. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Performance Stock Unit Award Agreement to which this Restrictive Covenant Agreement is attached as Exhibit “B” (the “Award Agreement”).