Additional Adjustment to the Purchase Price. The Base Cash Purchase Price shall be decreased by an amount equal to the proceeds of Seller's sale of the property described in Item 2 of Schedule 5.1 (net of expenses) less the sum of (i) the federal and state income taxes payable by Seller in respect of those proceeds and (ii) the book value of such property, as of June 30, 1999, on Seller's books.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Citizens Utilities Co), Merger Agreement (American Water Works Co Inc)
Additional Adjustment to the Purchase Price. The Base Cash Purchase Price shall be decreased by an amount equal to the proceeds of Seller's sale of the property described in Item 2 7 of Schedule 5.1 3.5 (net of expenses) less the sum of (i) the federal and state income taxes payable by Seller in respect of those proceeds and (ii) the book value of such property, as of June 30, 1999, on Seller's books.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Citizens Utilities Co), Merger Agreement (American Water Works Co Inc)