Common use of Determination of Closing Statement Clause in Contracts

Determination of Closing Statement. 7.2.1 Any Draft Closing Statement as agreed or determined pursuant to paragraph 1 of Part 1 of Schedule 12: (i) shall constitute the Closing Statement as between the relevant Seller and the Purchaser for the purposes of this Agreement; and (ii) shall be final and binding on that Seller and the Purchaser. 7.2.2 The Working Capital, the Target Group Companies’ Cash Balances, the Third Party Indebtedness, the Intra-Group Non-Trade Receivables, the Intra-Group Non-Trade Payables, the Employee Benefit Adjustment and the Tax Adjustment in respect of a Seller shall each be derived from its Closing Statement.