Examples of Agreed Adjustment in a sentence
In addition to the Purchase Price, Purchaser shall pay to Seller the Agreed Adjustment Amount, as determined in accordance with Section 7.2. The total amount payable by Purchaser at Closing (the “Closing Payment”) shall be the sum of the Purchase Price and the Agreed Adjustment Amount.
On or before the fifth day following the earlier to occur of the expiration of the Response Period and the date Purchaser receives Sellers' Representative's statement of discrepancies, Purchaser or the Sellers, as the case may be, shall pay the portion of the Adjustment Amount, if any, as to which there is no discrepancy (the "Agreed Adjustment Amount") and in accordance with each Seller's Ownership Percentage, if the Agreed Adjustment Amount is owing from the Purchaser.
In lieu of making adjustments or apportionments in respect of distributable income, working capital or other amounts, the parties have agreed to make one aggregate adjustment by Purchaser’s payment to Seller on the Closing Date of the Agreed Adjustment Amount.
The Gross Purchase Price shall be reduced by the sum of (i) the Agreed Adjustment Amount, (ii) the outstanding principal amount of the Notes as of the Closing Date, which shall remain outstanding immediately after the Closing Date, and (iii) the LDA Ascent Arena Company Membership Interest Value (the Gross Purchase Price as so adjusted, being referred to as the "Adjusted Purchase Price").
Tax Benefit Offset -------------------------------------- Gross-Up Factor Pursuant to the formula above, the amount of any Bonus to be paid by Company to Executive hereunder shall be reduced by any reduction of Taxes received by or to be received by Executive due to the additional income tax basis that Executive will receive or has received in the Shares as a result of the Agreed Adjustment (the "Tax Benefit Offset").
Following the end of the second calendar quarter of 2009, Holdco and Manager shall agree upon an adjustment for Bad Debt, refunds of Resident payments, other cash adjustments and other reserves (the “Agreed Adjustment”), and the Estimated Base Management Fees paid in each month following such agreement shall be based on the Gross Revenues for the most recent month for which the actual Gross Revenues have been determined and shall be reduced by the Agreed Adjustment.
The Gross-Up Factor is a mechanism to place Executive in a position so that after paying his Taxes with respect to the Bonus, his net after tax amount will be sufficient to cover the Agreed Adjustment as reduced by the Tax Benefit Offset.
In the event Purchaser and Seller resolve any differences as to the Adjustment Amount (the “Agreed Adjustment Modifications”), the Adjustment Amount set forth in the Preliminary Adjustment Statement, as adjusted by the Agreed Adjustment Modifications, shall be final and binding as the Adjustment Amount for all purposes of this Agreement.
The “Closing Date Consideration” shall be equal to the Base Purchase Price, as increased by the Working Capital Overage, if any, or decreased by the Working Capital Underage, if any minus the Agreed Adjustment Amount.
For example, assume that the Agreed Adjustment less the Tax Benefit Offset is $10,000.