Working Balance definition
Working Balance means the value of total current assets less any total current liabilities (including income tax-related liabilities) of the Business and less any cash and any inter-company payables between Company and Seller, in each case calculated in accordance with GAAP consistently applied.
Examples of Working Balance in a sentence
Once the School’s Account Balance drops below a Minimum Working Balance of $[2/3 of Estimated 3 Months’ Usage], Swing Education will invoice the Top-Up Amount again.
Any payment due pursuant to this Section 3.3(b) shall be made by wire transfer of immediately available funds within ten (10) Business Days after the Final Working Balance becomes final and binding as provided above.
If the Final Working Balance is greater than $12,500 (the “Working Balance Ceiling”), then the Initial Payment shall be increased by the difference between the Final Working Balance and the Working Balance Ceiling.
Once the School’s Account Balance drops below a Minimum Working Balance of $164,509, Swing Education will invoice the Top-Up Amount again.