Statement Closing Balance definition
Examples of Statement Closing Balance in a sentence
If any such notice of disagreement is timely provided, Buyer and Seller, in conjunction with their respective independent accounting firms, shall use commercially reasonable efforts for a period of twenty (20) Business Days from the date of Seller’s notice of disagreement (or such longer period as they may mutually agree) to resolve any disagreements with respect to the Final Acquired Cash Statement, Closing Balance Sheet, Closing Date Working Capital and Working Capital Statement, as applicable.
The Inventories on the Financial Statements, Interim Financial Statement, Closing Balance Sheet and the Reconciliation are at the lower of cost (last in, first out method) or market in accordance with GAAP applied on a consistent basis.
If Seller does not provide such notice of disagreement within such twenty (20) Business Day period, Seller shall be deemed to have accepted the Final Acquired Cash Statement, Closing Balance Sheet and the Working Capital Statement and the determination of the Closing Date Working Capital delivered by Buyer and such determination shall be final, binding and conclusive for purposes of this Agreement.
In connection therewith and subject to applicable Law, Buyer will provide Seller reasonable access to all of Buyer’s and the Property’s records not otherwise available to Seller as a result of the transactions contemplated by this Agreement, to the extent Seller deems necessary for Seller’s review of the Final Acquired Cash Statement, Closing Balance Sheet and the Working Capital Statement and the determination of Closing Date Working Capital.
The Minimum Amount Due will be 5% (or any other percentage as advised from time to time) of the Statement Closing Balance or Rs. 200, (or such other amount as notified from time to time), whichever is greater.
The Estimated Statement, Closing Balance Sheet and Month End Financials will be signed by an Executive Vice President of RSP.
The Parent Parties shall in good faith attempt to resolve any such dispute and, if the Parent Parties so resolve all such disputes, the Closing Cash Statement, Closing Balance Sheet and the Closing Working Capital Statement (and the computation of Closing Working Capital indicated thereon), as amended to the extent necessary to reflect the resolution of such disputes and the agreement thereto of the Parent Parties, shall be conclusive and binding on the Parties.
Except as set forth in such Financial Statement, Closing Balance Sheet and December 1999 Audit or incurred in the ordinary course of business, to the knowledge of Securityholder and the Company neither the Company nor any of its subsidiaries has any material obligation or liability, absolute, accrued or contingent except obligations and liabilities which do not adversely effect the business, property or assets of the Company.
The Arbiter shall be directed to render a written report on the unresolved disputed issues with respect to the Closing Statement, Closing Balance Sheet, the Closing Net Working Capital, the Purchased Cash, the Final Indebtedness Amount, the Base Purchase Price and the Price Adjustment Amount as promptly as practicable, and to resolve only those issues in dispute.
Notwithstanding anything to the contrary contained herein, the Estimated Closing Balance Sheet, Estimated Closing Statement, Closing Balance Sheet and Closing Statement shall be prepared using the Company Group’s past accounting principles, practices, procedures, policies and methods with respect to its accounting for facility operating leases.