Acquired Working Capital definition

Acquired Working Capital shall have the meaning assigned to such ------------------------ term in Section 2.10(g).

Acquired Working Capital means Current Assets minus Current Liabilities of the Company on the Closing Date, as reflected in the Closing Balance Sheet and the Closing Schedule. Section 1.1 of the Disclosure Schedule contains an example calculation of Acquired Working Capital based upon the Company’s July 31, 2005 balance sheet. Notwithstanding the foregoing, Acquired Working Capital will not include any impact that may arise, including any Tax benefit, from the settlement of Options and Warrants contemplated by Section 2.6.

Acquired Working Capital means, as of any date of determination, an amount equal to the sum of (i) Sellers’ Accounts Receivable PLUS (ii) Sellers’ Inventory (other than Excess Inventory), in each case as reflected on Seller’s balance sheet prepared in accordance with past practice.

Examples of Acquired Working Capital in a sentence

• Within fifteen (15) calendar days following the date of delivery of such Closing Financial Statements to the Purchaser, the Purchaser shall either accept the Closing Date Balance Sheet and the Sellers' Closing Date Acquired Working Capital based thereon (in which case such Closing Date Acquired Working Capital shall constitute a Final Determination) or propose adjustments thereto.

• The consideration paid for the Purchased Assets and covenant not to compete set forth in Section 6.3 (which shall equal the Purchase Price) and the assumption of the Assumed Liabilities that are taken into account in determining the amount realized for tax purposes shall be allocated as promptly as possible following the final determination of the Audited Acquired Working Capital Schedule among the Purchased Assets.

• The determination of the Closing Date Acquired Working Capital shall give effect to the exclusion of the Excluded Assets and the provisions of Section 1.5(a)(ii) and shall otherwise be prepared in accordance with GAAP.

• As soon as --------------------------------------------- practicable after the Amendment/Restatement Effective Date, the Borrower shall reduce any outstanding Revolving Credit Loans (but not the Revolving Credit Commitments) by an amount equal to the cash component of the working capital acquired pursuant to the MAGIC Transaction (the "Acquired Working Capital").

More Definitions of Acquired Working Capital

Acquired Working Capital shall have the meaning set forth in Section 2.5(b) of this Agreement.

Acquired Working Capital means the amount determined at any date of calculation (1) by adding together (A) the Trade Accounts Receivable at the date of calculation, net of any Trade Accounts Receivable that are Excluded Assets and any associated reserve for bad or questionable accounts as described in Section 2.3(a) above, (B) the inventory of Southern Saw at the date of calculation, net of any reserves for damaged, obsolete, or slow-moving items as set forth in Section 2.3(a) above, but in no event having an aggregate net value in excess of $3,060,000, and (C) the Prepaid Expenses, and (2) subtracting from the result obtained in clause (1) above the sum of (A) the Trade Accounts Payable at the date of calculation, and (B) the Accrued Expenses at the date of calculation.

Acquired Working Capital means current assets (including cash and marketable securities) minus accounts payable and accrued expenses.