WORKING CAPITAL VERIFICATION Clause Samples
WORKING CAPITAL VERIFICATION. As soon as reasonably practicable and in any event not later than the close of business on the day before the Closing Date, Buyer and Sellers shall jointly determine the amounts of the SEAFMAN Estimated Working Capital, the Estimated Working Capital, the SEAFMAN Closing Working Capital and the Closing Working Capital as of the time of Closing and prepare and deliver to each other a statement setting forth the calculation thereof. The amounts of changes in Inventory, Accounts Receivable and Trade Payables utilized in calculating the Estimated Working Capital and SEAFMAN Estimated Working Capital shall be determined in accordance with GAAP and accounting principles generally accepted in Ecuador, respectively. The amounts of changes in Inventory, Accounts Receivable and Trade Payables utilized in calculating the Closing Working Capital and SEAFMAN Closing
WORKING CAPITAL VERIFICATION. Immediately following the Closing, Purchaser and Seller shall cause MillerEllin Company LLP ("MillerEllin") at joint expense, not to exceed $15,000, to prepare and within 30 days after the Closing deliver a Closing Date Balance Sheet, which shall have been prepared on the same basis as the Balance Sheet. Seller and Purchaser agree that from December 31, 2004 until the Closing Date, KIRK shall have been operated only in the usual and customary course ▇▇▇ without the incurring of any debt, the payment of any dividends or any other transactions not in the usual and customary course of KIRK's business. To the extent that any such transaction may have occ▇▇▇▇▇, the Note shall be reduced to reflect any adverse economic impact of the transaction.
WORKING CAPITAL VERIFICATION. Immediately following the Closing, Purchaser and Seller shall cause MillerEllin Company LLP (“MillerEllin”) at joint expense, not to exceed $15,000, to prepare and within 30 days after the Closing deliver a Closing Date Balance Sheet, which shall have been prepared on the same basis as the Balance Sheet. Seller and Purchaser agree that from December 31, 2004 until the Closing Date, ▇▇▇▇ shall have been operated only in the usual and customary course and without the incurring of any debt, the payment of any dividends or any other transactions not in the usual and customary course of ▇▇▇▇’▇ business. To the extent that any such transaction may have occurred, the Note shall be reduced to reflect any adverse economic impact of the transaction.