Baseline Net Worth definition
Examples of Baseline Net Worth in a sentence
The Baseline Net Worth shall be calculated by the Shareholder with the participation of Buyer's representatives and such calculation shall be delivered to Buyer as soon as practicable, but in no event later than forty-five (45) days after the Closing Date.
The Purchase Price will be adjusted upward if (i) the Baseline Net Worth is greater than (ii) Two Million Five Hundred Thousand Dollars ($2,500,000).
The Buyer shall have thirty (30) days from receipt of the Shareholder's calculation of the Baseline Net Worth to review, analyze, audit and propose changes to the Baseline Net Worth.
If any changes are proposed, Buyer and the Shareholder shall in good faith as soon as reasonably possible reach agreement on the Baseline Net Worth and determine the adjustment, if any, to the Purchase Price.
The Purchase Price will be adjusted downward if (i) the net worth of the Company determined as of the Closing Date calculated in accordance with GAAP (including, without limitation, GAAP standards for contingent sales) and subject to a confirming inventory observed by the Buyer and conducted in a manner acceptable to the Buyer (the "Baseline Net Worth") is less than (ii) Two Million Five Hundred Thousand Dollars ($2,500,000).