Common use of Closing Adjustment Clause in Contracts

Closing Adjustment. (i) At Closing, the Company shall prepare and deliver to Buyer a statement setting forth its good faith estimate of Closing Working Capital (the “Estimated Closing Working Capital”), which statement shall contain an estimated balance sheet of the Company as of the Closing Date (without giving effect to the transactions contemplated herein), a calculation of Estimated Closing Working Capital (the “Estimated Closing Working Capital Statement”), and a certificate of the Chief Financial Officer of the Company that the Estimated Closing Working Capital Statement was prepared in accordance with GAAP applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Company Financial Statements for the most recent fiscal year end as if such Estimated Closing Working Capital Statement was being prepared and audited as of a fiscal year end.

Appears in 3 contracts

Samples: Membership Interest Purchase Agreement (CorEnergy Infrastructure Trust, Inc.), Membership Interest Purchase Agreement (CorEnergy Infrastructure Trust, Inc.), Membership Interest Purchase Agreement

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Closing Adjustment. (i) At least five (5) Business Days before the Closing, the Company shall prepare and deliver to Buyer Parent a statement setting forth its good faith estimate of Closing Working Capital (the “Estimated Closing Working Capital”), which statement shall contain an estimated balance sheet of the Company as of the Closing Date (without giving effect to the transactions contemplated herein), a calculation of Estimated Closing Working Capital (the “Estimated Closing Working Capital Statement”), and a certificate of the Chief Financial Officer of the Company that the Estimated Closing Working Capital Statement was prepared in accordance with GAAP applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Company Financial Statements for the most recent fiscal year end as if such Estimated Closing Working Capital Statement was being prepared and audited as of a fiscal year end.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Alliqua BioMedical, Inc.)

Closing Adjustment. (i) At least two (2) Business Days before the Closing, the Company shall prepare and deliver to Buyer Parent a statement setting forth its good faith estimate of Closing Working Capital (the “Estimated Closing Working Capital”), which statement shall contain an estimated balance sheet of the Company as of the Closing Date (without giving effect to the transactions contemplated herein), a calculation of Estimated Closing Working Capital (the “Estimated Closing Working Capital Statement”), and a certificate of the Chief Financial Executive Officer of the Company that the Estimated Closing Working Capital Statement was prepared in accordance with GAAP GAAP, applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Company Financial Statements for the most recent fiscal year end as if such Estimated Closing Working Capital Statement was being prepared and audited as of a fiscal year end.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Kush Bottles, Inc.)

Closing Adjustment. (ivii) At least five (5) business days before the Closing, the Company shall prepare and deliver to Buyer Parent a statement setting forth its good faith estimate of Closing Working Capital (the “Estimated Closing Working Capital”), which statement shall contain an estimated balance sheet of the Company as of the Closing Date (without giving effect to the transactions contemplated herein), a calculation of Estimated Closing Working Capital (the “Estimated Closing Working Capital Statement”), and a certificate of the Chief Financial Officer of the Company that the Estimated Closing Working Capital Statement was prepared in accordance with GAAP applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Company Audited Financial Statements for the most recent fiscal year end as if such Estimated Closing Working Capital Statement was being prepared and audited as of a fiscal year end.

Appears in 1 contract

Samples: Agreement and Plan of Merger (WEB.COM Group, Inc.)

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Closing Adjustment. (i) At least three Business Days before the Closing, the Company Pxxxx shall prepare and deliver to Buyer a statement setting forth its a good faith estimate of Closing Working Capital (the “Estimated Closing Working Capital”), which statement shall contain an estimated aggregated balance sheet of the Company Companies as of the Closing Date (without giving effect to the transactions contemplated herein), a calculation of Estimated Closing Working Capital (the “Estimated Closing Working Capital Statement”), and a certificate of the Chief Financial Officer of the Company Pxxxx that the Estimated Closing Working Capital Statement was prepared in accordance with GAAP applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies methodologies, that were used in the preparation of the Company Financial Statements for the most recent fiscal year end as if such Estimated Closing Working Capital Statement was being prepared and audited as of a fiscal year end.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Chanticleer Holdings, Inc.)

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