Closing Net Liabilities Amount definition

Closing Net Liabilities Amount means, (i) with respect to the Group 1 Business, the Group 1 Current Assets minus the Group 1 Total Liabilities and (ii) with respect to the Group 2 Business, the Group 2 Current Assets minus the Group 2 Total Liabilities.
Closing Net Liabilities Amount means, with respect to each Specified Business, the Current Assets of such Specified Business minus the Total Liabilities of such Specified Business.
Closing Net Liabilities Amount shall equal the amount of all Liabilities of Holdco as of the Closing (other than the Holdco Transaction Liabilities), less the amount of all current assets (other than inventory and the Cash Amount) of Holdco as of the Closing, in each case as would be reflected on the face of a balance sheet (excluding any footnotes thereto) prepared in accordance with GAAP and the GAAP Adjustments; PROVIDED that, if Comcast Subsidiary or its Affiliate shall have made the request referred to in Section 3.1(g)(v), the Actuarial Amount shall be treated as a Liability for purposes of this calculation. Current assets shall include, but shall not be limited to, all cash and cash equivalents (other than the Cash Amount), prepaid expenses, funds on deposit with third parties, and accounts receivable other than (i) the portion of any account receivable resulting from cable, telephony, data or Internet service sales that is sixty (60) days or more past due as of the Closing Date, (ii) the portion of any national agency account receivable resulting from advertising sales that is one hundred and twenty (120) days or more past due as of the Closing Date, (iii) any non-national agency account receivable resulting from advertising sales any portion of which is ninety (90) days or more past due as of the Closing Date, (iv) accounts receivable from customers whose accounts are inactive as of the Closing Date or (v) any accounts receivable that have not arisen from a bona fide transaction in the ordinary course of business. For purposes of making the foregoing "past due" calculations, the billing statements of a Transferred System will be deemed to be due and payable consistent with ordinary accounting practice. For purposes of the foregoing calculations, Liabilities shall include, but shall not be limited to, the Actuarial Amount (if Comcast Subsidiary or its Affiliate shall have made the request referred to in Section 3.1(g)(v)), Specified Launch Support Liabilities, accounts payable, accrued expenses (including all accrued vacation time, sick days, paid time off, copyright fees, programming expenses, Applicable Taxes, franchise fees and other license fees or charges), capitalized lease obligations, Liabilities with respect to unearned income and advance payments (including subscriber prepayments and deposits for converters, encoders, cable television service and related sales) and interest, if any, required to be paid on advance payments.

Examples of Closing Net Liabilities Amount in a sentence

  • Any amounts received or receivable hereunder shall not be included in the Closing Net Liabilities Amount.

  • Comcast Subsidiary and Holdco shall be responsible for all workers' compensation Liabilities relating to, arising out of, or resulting from any claim incurred for a compensable injury sustained by a Comcast Transferred System Employee on or after the Closing and, to the extent reflected in the Closing Net Liabilities Amount used in calculating the Final Adjustment Amount, before Closing.

  • Comcast Subsidiary and Holdco shall be responsible for all workers’ compensation Liabilities relating to, arising out of, or resulting from any claim incurred for a compensable injury sustained by a Comcast Transferred System Employee on or after the Closing and, to the extent reflected in the Closing Net Liabilities Amount used in calculating the Final Adjustment Amount, before Closing.

Related to Closing Net Liabilities Amount