Common use of Closing Net Debt Clause in Contracts

Closing Net Debt. (a) If the Benchmark Net Debt is greater than the Closing Net Debt, Purchaser shall pay to Sellers, in NOK and subject to Sections 3.4.1.2 and 3.4.2 hereof, by electronic transfer in immediately available funds, and to the account designated by Sellers in writing no later than three (3) Business Days prior to the date such payment is due, an amount equal to the difference between the Benchmark Net Debt and the Closing Net Debt. (b) If the Benchmark Net Debt is lower than the Closing Net Debt, Sellers shall pay to Purchaser, in NOK and subject to Sections 3.4.1.2 and 3.4.2 hereof, by electronic transfer in immediately available funds, and to the account designated by the Purchaser in writing no later than three (3) Business Days prior to the date such payment is due, an amount equal to the difference between the Closing Net Debt and the Benchmark Net Debt.