Examples of Working Capital Overage in a sentence
The amount of the Estimated Closing Net Working Capital Overage (if any) determined to be due and owing to Sellers pursuant to the Estimated Closing Statement shall be paid by Buyer at the Closing pursuant to Section 2.01.
For example, if Valley contributed $7,250,000 in Working Capital to the Company on the Closing Date and Desert Springs contributed $2,550,000 in Working Capital to the Company on the Closing Date, then the Working Capital Shortage would be $200,000 to be paid to the Company by Desert Springs or the Working Capital Overage would be $527,272.72 which would be retained by Valley rather than contributed.
Any such amounts determined to be payable pursuant to the Final Closing Statement shall be paid to either Sellers (in the case of a Final Closing Net Working Capital Overage) or Buyer (in the case of a Final Closing Net Working Capital Shortage) pursuant to Section 3.03(e) (the “Final Closing Payment”).
The Working Capital Shortage shall be calculated and used unless Valley and Desert Springs shall agree to calculate and use the Working Capital Overage.