Accrued Expenses definition

Accrued Expenses means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Accrued Expenses has the meaning assigned to such term in the definition of “Excess Cash Flow.”

Accrued Expenses means as of any date accrued rents, insurance premiums, payroll and benefits (including, without limitation, vacation, sick pay, disability pay) and other accrued expenses as would appear on a balance sheet of the Business as of such date prepared in accordance with GAAP consistently applied, including those described in Schedule 1.3.

Examples of Accrued Expenses in a sentence

• The Seller agrees that in the event the Initial Base Amount (as hereinafter defined) is less than the sum of (i) the amount of the Assumed Deposits and (ii) the amount of the Accrued Expenses, the Seller shall transfer to the Buyer cash in the amount equal to the deficit.

• The Buyer agrees that in the event the Initial Base Amount is greater than the sum of (i) the amount of the Assumed Deposits and (ii) the amount of the Accrued Expenses, the Buyer shall transfer to the Seller cash in an amount equal to such excess.

• The payment of Accrued Expenses shall be made within ten (10) days following Termination Date.

• Subject to the other provisions herein contained, the Accrued Expenses, Prepaid Expenses, Accrued Income and Prepaid Income shall be apportioned (on the basis of a 365 day year) to Sellers with respect to the Pre-Closing Period and the Buyer with respect to the Post-Closing Period.

• Upon termination pursuant to this provision the Contractor shall be entitled to receive and the Corporation shall pay to the Contractor within three Business Days after the date of such termination the aggregate of: (a) all Accrued Fees and Accrued Expenses to the date of termination.

More Definitions of Accrued Expenses

Accrued Expenses has the meaning ascribed to it in Section 1.02(a)(v).

Accrued Expenses shall have the meaning set forth in Section 2.04(a).

Accrued Expenses means the obligations of Seller as of the Closing Date to pay for services received from third parties prior to the Closing, yet due and owing at some date after the Closing Date, provided such payables have occurred in the Ordinary Course of Business.

Accrued Expenses has the meaning ascribed to it in SECTION 1.02(a).

Accrued Expenses means the accrued and unpaid expenses appearing as a liability on the Financial Statements pursuant to Section 3.2(c).

Accrued Expenses shall refer to the Company’s consolidated Accounts Receivable, Inventory, Prepaid Current Assets, Net Plant, Property and Equipment, Accounts Payable and Accrued Expenses as of the end of such fiscal year, as determined in accordance with GAAP from the Company’s audited consolidated financial statements for such fiscal year certified by the Company’s chief financial officer.

Accrued Expenses means any appropriate business expenses incurred by the Consultant in connection with the Services provided hereunder and approved in advance by the Company, all to the extent unpaid or unreimbursed on the date of termination; provided, however, that reimbursement for expenses may be delayed until such time as the Consultant has furnished reasonable documentation for authorized expenses as the Company may reasonably request.