SUPPLEMENTARY WORKING CAPITAL RULES Sample Clauses
The Supplementary Working Capital Rules clause establishes additional guidelines for managing and maintaining the working capital of a business or project. Typically, this clause outlines specific procedures for calculating, monitoring, and adjusting working capital levels, and may set thresholds or require periodic reporting to ensure sufficient liquidity. By providing clear rules for handling working capital, this clause helps prevent cash flow shortages and ensures that the business can meet its short-term obligations, thereby reducing financial risk and promoting operational stability.
SUPPLEMENTARY WORKING CAPITAL RULES. 3.1 This paragraph 3 comprises supplementary specific rules, principles, policies and practices applicable to the preparation of the Working Capital to be set forth in each Closing Statement. For the avoidance of doubt, each of the specific rules, principles, policies and practices set out in paragraph 1 and 2 shall be equally applicable to the Working Capital.
3.2 For each of the Sellers, the Working Capital of each of their Joint Venture Entities shall be included within the calculation of Working Capital only if such Joint Venture Entities are consolidated into the relevant Seller’s Group accounts, and the amount of any such Joint Venture Entities Working Capital shall be calculated as if such Joint Venture Entity is wholly-owned by a member of that Seller’s Group.
3.3 In relation to the France Business for each Seller and, in respect of GlaxoSmithKline only, the Netherlands Business, if one or, in respect of GlaxoSmithKline only, both business(es) is (are) not transferred to the Purchaser under the terms of this Agreement at Closing, the Working Capital relating to such business (or businesses) shall not be included in the determination of Working Capital at the Effective Time. If that France Business or, in respect of GlaxoSmithKline only, the Netherlands Business is (are) Transferred to the Purchaser after Closing, then a further adjustment shall be made to the Closing Statement on the assumption that the France Business and/or, in respect of GlaxoSmithKline only, the Netherlands Business were included in the Closing Statement taking the relevant items for the relevant business as of the date they transferred to the Purchaser. Any adjustment arising as a result of including the France Business or, in respect of GlaxoSmithKline only, the Netherlands Business in the Closing Statement after the date of Closing shall be agreed and paid on the same basis as the Closing Statement was agreed and payment in respect thereof made.
3.4 Part 3 of this Schedule 12 sets forth, for illustrative purposes only a computation of the Working Capital of Novartis’s and GlaxoSmithKline’s Working Capital as of the close of business on 31 December 2013. 250 Part 3 Illustrative Closing Statement Part A - GlaxoSmithKline Target Group Companies’ Cash Balances (Cash & cash equivalents) [ ] Intra-Group Non-Trade Receivables (Total financing and loans to subsidiaries / JV), comprising: [ ] [●] [ ] Third Party Indebtedness, comprising: Financial Debt – long term [ ] Financial Debt ...
SUPPLEMENTARY WORKING CAPITAL RULES. This paragraph 3 comprises supplementary specific rules, principles, policies and practices applicable to the preparation of the Working Capital to be set forth in each Closing Statement. For the avoidance of doubt, each of the specific rules, principles, policies and practices set out in paragraph 1 and 2 shall be equally applicable to the Working Capital.