Statement of Closing Working Capital definition

Statement of Closing Working Capital has the meaning set forth in Section 3.2(a) below.

Statement of Closing Working Capital means a statement setting forth the Closing Working Capital as set forth in Section 1.6(a).

Statement of Closing Working Capital has the meaning specified in Section 2.7(b).

Examples of Statement of Closing Working Capital in a sentence

• All accounts receivable of the ENI Business reflected on the Statement of Closing Working Capital are valid receivables subject to no setoffs or counterclaims and are current and collectible, net of the applicable reserve for bad debts shown on the Statement of Closing Working Capital.

• All inventory of the ENI Business, as reflected on the Statement of Closing Working Capital (net of any applicable reserve shown thereon), consists of a quality usable and saleable in the Ordinary Course of Business.

• No advance Purchase Price liability resulting from the Interim Funding or any accrued interest thereon shall be included on the Closing Statement of Closing Working Capital.

• All Excluded Assets shall be excluded from the Closing Statement of Closing Working Capital.

• This event is considered an emergency condition, and therefore the Discharger is allowed to initiate transfer to the North Pit.

• The Independent Accountant shall issue a detailed written report that sets forth the resolution of all items in dispute and that contains, as applicable, a final Statement of Closing Working Capital, a final Statement of Closing Cash on Hand, a final Statement of Closing Indebtedness, and/or a final Statement of Transaction Expenses.

• Not later than 50 calendar days after the Closing Date, Emerson shall deliver to the Buyer a Statement of Closing Working Capital, including a schedule of all of the line items thereof, which shall be prepared in accordance with GAAP applied consistently with past practice (to the extent such past practices are consistent with GAAP).

• Notwithstanding any provision of the Agreement to the contrary (except as provided in Section c below), the parties hereto agree and acknowledge that the Closing Balance Sheet and the Closing Statement of Closing Working Capital shall not reflect any Tax assets or Tax liabilities (to the extent a Seller or its Affiliate has indemnified or is obligated to indemnify the Purchasers or their Affiliates therefor), in each case, whether current, deferred or otherwise.

• The Statement of Closing Working Capital shall include line items for current assets and current liabilities that are consistent with those shown on the Balance Sheet.

• Failure of Buyer to deliver a Dispute Notice within 30 days after receiving the Statement of Closing Working Capital, or notification by the Buyer to Emerson that no Dispute Notice will be given, shall constitute acceptance of the Closing Working Capital as set forth on the Closing Working Capital Statement and there shall be no additional payment required or adjustment to the Purchase Price pursuant to this Section.

More Definitions of Statement of Closing Working Capital

Statement of Closing Working Capital means the calculation of Mexgold’s Working Capital (on a consolidated basis) as of the Closing Date based on the Closing Date Financial Statements;

Statement of Closing Working Capital means a schedule setting forth the amount of (i) the Purchased Assets that are Current Assets, (ii) the Assumed Liabilities that are Current Liabilities and (iii) the Closing Working Capital, in all cases prepared in accordance with GAAP, as of the Closing, as shown, and except as specifically adjusted for, in the sample Statement of Closing Working Capital as set forth in Appendix B.