Working Capital Settlement Statement definition

Working Capital Settlement Statement has the meaning set forth in Section 2.6(b)(i) of this Agreement.
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Working Capital Settlement Statement means a final accounting jointly prepared by accountants for Bass and FCH (or its designee) during the period between 8:00 p.m. local time (as applicable to each of the Hotels) on the date immediately preceding the transfer and 8:00 a.m. local time (as applicable to each of the Hotels) on the day of the transfer, the results of which shall be incorporated into a written operations settlement statement which shall be executed by both Bass and FCH, or its purchaser, as the case may be. For purposes of this Paragraph 9(c), the following shall apply:
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Examples of Working Capital Settlement Statement in a sentence

  • If the Seller Parties timely deliver a Notice of Objection to Buyer, then Buyer and the Seller Parties shall respectively instruct Buyer's Auditors and Shepard, Schwartz & Harris to attempt to reach mutual agreement as to ▇▇▇▇ ▇is▇▇▇▇▇ ▇▇lcu▇▇▇▇▇▇ made in the Working Capital Settlement Statement.

  • The Working Capital Settlement Statement shall be final and binding on the Seller Parties unless, within ten (10) Business Days following the date of delivery to them of the Working Capital Settlement Statement, the Seller Parties deliver to Buyer a Notice of Objection that the Seller Parties do not accept as correct the amount of any calculation reflected in the Working Capital Settlement Statement.

  • Such payment shall occur within two business days following the completion and joint execution of the Working Capital Settlement Statement.

  • In accordance with the terms of and in the manner set forth in this Section 5(c), FCH shall pay or cause to be paid to the Bass Parties the aggregate net positive amount, or Bass shall pay or cause to be paid to the FCH Parties the aggregate net deficit amount, as the case may be, set forth on the Working Capital Settlement Statement as determined pursuant to this Section 5(c).

  • This proration will occur through a final accounting jointly prepared by accountants for Bass and FCH, the results of which shall be incorporated into a written operations settlement statement (the "Working Capital Settlement Statement") which shall be executed by both Bass and FCH aggregating the individual results of settlement with respect to all of the Hotels.

  • Any net amount due to FCH pursuant to this Section 5(c) shall be paid to FCH, by wire transfer, on the first business day following the completion and execution of the Working Capital Settlement Statement.

  • Buyer will grant to the Seller Parties reasonable access to the books and records of FRS and its Subsidiaries after the Closing for the purpose of confirming the Working Capital Settlement Statement.

  • Since the financial results pertaining to the night that includes the Closing Time are necessary for the completion of the Working Capital Settlement Statement, Bass shall complete the posting of all such financial activity, all schedules, credit card bill▇▇▇▇, ▇▇d all other activities normally associated with the daily activity at each Hotel for such night.

  • Any amounts determined to be due and owing to Bass by FCH shall be paid for by FCH, by wire transfer of immediately available funds to a bank account designated by Bass (or in such other form and manner as Bass may reasonably designate) within two business days following the completion and joint execution of the Working Capital Settlement Statement.

Related to Working Capital Settlement Statement