NET CURRENT ASSETS Sample Clauses

NET CURRENT ASSETS. HOLDINGS will not permit the ratio of its consolidated current assets to its consolidated current liabilities as of the last day of each fiscal quarter of HOLDINGS to be less than 1.2 to 1 and will not permit its net current assets as of the last day of each fiscal quarter of HOLDINGS to be less than $17,000,000; provided, that in the event HOLDINGS fails to maintain either of these levels it shall immediately notify TRAVELERS and shall have thirty (30) days in which to restore its position. In the determination of current assets, pipe inventory shall be classified as a current asset; and provided further, that for purposes of calculating consolidated current liabilities, current maturities of DEBT will be excluded from the calculation thereof to the extent HOLDINGS or any of its SUBSIDIARIES is able to repay such current maturities through the incurrence of other non-current DEBT (including, without limitation, through borrowings under the BANK LOAN FACILITY).
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NET CURRENT ASSETS. As at 30 June 2021, the Group’s net current assets, defined as total current assets less total current liabilities, amounted to RMB3,252 million (31 December 2020: RMB4,660 million).
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NET CURRENT ASSETS. (i) If the Net Current Assets exceed the Estimated Net Current Assets, the Purchaser shall pay to the Principal Seller an additional amount equal to the excess of the Net Current Assets over the Estimated Net Current Assets as an increase in the consideration for the Shares. (ii) If the Net Current Assets are less than the Estimated Net Current Assets, the Principal Seller shall repay to the Purchaser an amount equal to such deficit as a reduction in the consideration for the Shares. (iii) Any payments pursuant to this Clause 8.2.1 shall be made on or before five Business Days after the date on which the process described in Part 2 of Schedule 6 for the preparation, agreement and/or determination of the Net Current Asset Statement is complete.
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NET CURRENT ASSETS. 1. The Adjusted Net Current Assets of the Group shall be the aggregate of all the current assets as shown in the Completion Accounts less the aggregate of all liabilities (including amounts falling due to creditors not only within but also outside of one year) and charges (including provision for vessels survey and maintenance but excluding deferred Taxation except for Taxation arising on the sale or disposal of an asset when proceeds reinvested in a wasting asset) adjusted as follows to the extent not already taken into account in the Completion Accounts:- 1.1 without taking into account any amounts owed by one member of the Group to any other member of the Group; 1.2 pre paid expenses shall include fuel not paid for by charterers on board motor vessels as at Completion; 1.3 without taking into account any of the proceeds of sale respectively referred to in Clause 7.5 and Clause 7.6; 1.4 without taking into account the amount of any insurance claim respectively referred to in Clause 7.7 and Clause 7.8; 1.5 without treating as a current asset any Putford Vessel held for immediate realisation; 1.6 without taking into account the value of any spares.
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NET CURRENT ASSETS. As soon as practicable but within thirty (30) days after the Closing Date, the Seller, at its expense, shall cause Connor Ash P.C., an independent accounting firm, to prepare a balance sheet of the Seller immediately prior to the Effective Time (the "Effective Time Balance Sheet") setting forth the net current assets of the Seller using accrual accounting and in conformance with generally accepted accounting principles (the "Net Current Assets"). A copy of the Effective Time Balance Sheet shall be promptly furnished to the Buyer. If the Buyer disagrees with the Net Current Assets, the Buyer shall engage Coopers & Xxxxxxx, an independent public accounting firm, at its expense, to audit the Effective Time Balance Sheet and deliver a certified written report to the Seller confirming the Net Current Assets ("Audited Net Current Assets"). If the Seller fails to notify the Buyer within fifteen (15) days after receiving the Coopers & Xxxxxxx report, such report shall be deemed accepted for purposes of calculating Net Current Assets. If the Seller should so notify the Buyer of a dispute concerning Audited Net Current Assets, the Buyer shall then engage another big-six independent accounting firm that is mutually acceptable to the Buyer and the Seller to resolve such dispute and such firm shall notify the Buyer and the Seller of its resolution of such dispute within two weeks of its engagement by
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NET CURRENT ASSETS. 6.19(a) Notices.........................................................................................3.25(a)(i) Patent Rights..........................................................................3.20(c) and 4.20(c) Permitted Lien.....................................................................................9.12(e) person ............................................................................................9.12(f) Post-Merger Board..................................................................................6.19(a)
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NET CURRENT ASSETS. LCCR's net current assets (current assets minus current liabilities), as calculated under Section 2.7 of this Agreement, shall be at least $1.8 million.
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NET CURRENT ASSETS. As soon as practicable but within thirty (30) days after the Closing Date, the Shareholders, at their expense, shall cause Xxxxx & Associates, an independent accounting firm, to prepare a balance sheet of the Company immediately prior to the Effective Time (the "Effective Time Balance Sheet") setting forth the net current assets of the Company using accrual accounting and in conformance with generally accepted accounting principles (the "Net Current Assets"). A copy of the Effective Time Balance Sheet shall be promptly furnished to Parent. If Parent disagrees with the Net Current Assets, Parent shall engage Coopers & Xxxxxxx, an independent public accounting firm, at its expense, to audit the Effective Time Balance Sheet and deliver a certified written report to the Shareholders confirming the Net Current Assets ("Audited Net Current Assets"). If the Shareholders fail to notify Parent within fifteen (15) days after receiving the Coopers & Xxxxxxx report, such report shall be deemed accepted for purposes of calculating Net Current Assets. If the Shareholders should so notify Parent of a dispute concerning Audited Net Current Assets, Parent shall then engage another big-six independent accounting firm that is mutually acceptable to Parent and the Shareholders to resolve such dispute and such firm shall notify Parent and the Shareholders of its resolution of such dispute within two weeks of its engagement by Parent. The cost of services provided by such big-six accounting firm shall be borne equally by Parent on one hand and the Shareholders on the other. Any such resolution shall be final and binding on all parties hereto for the purposes of calculating Net Current Assets. In the event the amount of Net Current Assets is less than $670,000 the Shareholders shall pay such deficit amount to Parent on a dollar-for-dollar basis within thirty (30) days following the later of its determination of the Net Current Assets, Parent's audit or the resolution of any dispute by such big-six accounting firm. In the event the amount of the Net Current Assets is greater than $670,000 Parent shall pay such excess amount on a dollar-for-dollar basis to the Shareholders within thirty (30) days following the later of either Xxxxx & Associates' determination of the Net Current Assets or the determination of Audited Net Current Assets. For purposes of this Section 3.7, "Net Current Assets" shall mean the current assets of the Company at the Effective Time determined in accordance ...
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Related to NET CURRENT ASSETS

  • Current Liabilities Current Liabilities means the aggregate amount of all current liabilities as determined in accordance with GAAP, but in any event shall include all liabilities except those having a maturity date which is more than one year from the date as of which such computation is being made.

  • Aggregate Net Assets For each Retirement Distribution Portfolio, Aggregate Net Assets include the net assets of all the JHF II Retirement Distribution Portfolios.

  • Minimum Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

  • Consolidated Net Worth The Company will not at any time permit Consolidated Net Worth to be less than the sum at such time of (a) US$4,500,000,000 and (b) commencing with the fiscal quarter beginning on January 1, 2007, 50% of the Company’s Consolidated Net Income for each fiscal quarter of the Company for which Consolidated Net Income is positive and for which financial statements shall have been delivered under Section 5.01(a) or (b).”

  • Minimum Consolidated Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Net Working Capital At least three (3) business days prior to the Closing Date, Sellers shall deliver to Buyer a certificate (the “Estimated NWC Certificate”), including a consolidated balance sheet of the Company as of the Closing Date, prepared in accordance with the accounting principles, methods, practices, estimates, judgments and assumptions applied in the preparation of the Company’s financial statements, consistently applied (the “Accounting Principles”), which shall include (a) the Sellers’ good faith estimate (such estimate is referred to as the “Estimated Net Working Capital Amount”) of the “Net Working Capital Amount.” As used herein, “Net Working Capital Amount” means the Net Working Capital of the Company as of 11:59 p.m. EST on the day immediately preceding the Closing Date. “Net Working Capital” means the result of (i) all cash of the Company minus (ii) all current liabilities (excluding the Existing Indebtedness) of the Company, in each case determined in accordance with the Accounting Principles. The Purchase Price at Closing shall be increased by the Estimated Net Working Capital Amount. No later than ninety (90) days following the Closing Date, Buyer shall prepare and deliver to Sellers (i) a consolidated balance sheet of the Company dated at the Closing Date, which shall be prepared in accordance with the Accounting Principles and (ii) a reasonably detailed statement (the “Final NWC Certificate”) setting forth Buyer’s calculations of the Net Working Capital Amount. If Sellers have any objections to the Final NWC Certificate, Sellers shall deliver to Buyer a statement setting forth its objections thereto (an “Objections Statement”), provided that the only bases for objections shall be (i) non-compliance with the standards set forth above for preparation of the Final NWC Certificate, or as set forth in the definition of Net Working Capital, and (ii) mathematical errors. If an Objections Statement is not delivered to Buyer within thirty (30) days after delivery of the Final NWC Certificate, the Final NWC Certificate shall be final, binding and non-appealable by the parties hereto. Sellers and Buyer shall negotiate in good faith to resolve any objections set forth in the Objections Statement (and all such discussions related thereto shall, unless otherwise agreed by Buyer and Sellers, be governed by Rule 408 of the Federal Rules of Evidence (and any applicable similar state rule)), but if they do not reach a final resolution within thirty (30) days after the delivery of the Objections Statement, Sellers and Buyer may submit such dispute to one of the “Big Four” accounting firms other than Ernst & Young LLP or PricewaterhouseCoopers LLP, or, in the event that any such auditor is unable to accept such appointment, to any other nationally recognized independent accounting firm mutually acceptable to Buyer and Sellers (the “Independent Auditor”). Each party shall be afforded an opportunity to present to the Independent Auditor material relating to the disputed issues and to discuss the determination with the Independent Auditor. The Independent Auditor shall act as an auditor and not as an arbitrator and shall resolve matters in dispute and adjust and establish any disputed adjustment of the Net Working Capital Amount to reflect such resolution, provided that the Independent Auditor shall not assign a value to any item or amount in dispute greater than the greatest value for such item or amount assigned by Sellers, on the one hand, or Buyer, on the other hand, or less than the smallest value for such item or amount assigned by Sellers, on the one hand, or Buyer, on the other hand. It is the intent of Buyer and Sellers that the process set forth in this Section 11(F) and the activities of the Independent Auditor in connection herewith are not intended to be and, in fact, are not arbitration and that no formal arbitration rules shall be followed (including rules with respect to procedures and discovery). Sellers and Buyer shall use their commercially reasonable efforts to cause the Independent Auditor to resolve all such disagreements as promptly as practicable. The resolution of the dispute by the Independent Auditor shall be final, binding and non-appealable on the parties hereto. The Final NWC Certificate shall be modified if necessary to reflect such determination. The fees and expenses of the Independent Auditor shall be allocated for payment by Buyer, on the one hand, and/or Sellers, on the other hand, based upon the percentage which the portion of the contested amount not awarded to each party bears to the amount actually contested by such party, as determined by the Independent Auditor. If the Net Working Capital Amount as finally determined pursuant to the dispute resolution procedures described above is greater than the Estimated Net Working Capital Amount shown on the Estimated NWC Certificate, then Buyer shall pay to Sellers cash equal to the amount by which the Net Working Capital Amount exceeds the Estimated Net Working Capital Amount. If the Net Working Capital Amount as finally determined pursuant to the dispute resolution procedures described above is less than the Estimated Net Working Capital Amount shown on the Estimated NWC Certificate, then Sellers shall pay to Buyer cash equal to the amount by which the Estimated Net Working Capital Amount exceeds the Net Working Capital Amount.

  • Net Asset Value The net asset value of each outstanding Share of the Trust shall be determined at such time or times on such days as the Trustees may determine, in accordance with the 1940 Act. The method of determination of net asset value shall be determined by the Trustees and shall be as set forth in the Prospectus or as may otherwise be determined by the Trustees. The power and duty to make the net asset value calculations may be delegated by the Trustees and shall be as generally set forth in the Prospectus or as may otherwise be determined by the Trustees.

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

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