Examples of Closing Date Estimate in a sentence
Notwithstanding anything to the contrary contained herein, the Buyer acknowledges and agrees that prior to the Closing the Company may distribute to the Seller cash and cash equivalents held by or on behalf of the Company; provided that the Seller may not cause any distribution to be made to the extent a distribution would result in a deviation from the Closing Date Estimate.
At the Canadian Closing, Canadian Buyer shall pay to Canadian Seller, by wire transfer of immediately available funds pursuant to wire instructions previously delivered by Canadian Seller to Canadian Buyer, an amount in cash equal to the sum of the Canadian Estimated Inventory Amount, the Canadian Estimated Dollars/Theme Park Amount and the Canadian Estimated Cash-On-Hand (collectively, the "Canadian Closing Date Estimate").
Pursuant to Section 1.2(b) of the PSA, Seller has prepared in consultation with, and delivered to, Buyer its good faith estimate of the Initial Adjustment, together with its calculation of the Closing Date Estimate, a copy of which is attached as Exhibit J hereto.
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At least five (5) Business Days prior to the scheduled Closing Date, the Parent shall deliver to the Purchaser the Closing Date Estimate Statement setting forth its good faith estimate of Working Capital as of the Closing Date (the “Estimate Working Capital”) prepared by the Parent in a manner consistent with the preparation of the Reference Statement.
Based on the Closing Date Estimate, the Closing Payment is $389,474,639, of which (a) $379,474,639 shall be paid to Seller at the Closing in accordance with Sections 1.4 and 1.6(b) of the PSA, and (b) $10,000,000 shall be retained by Buyer as the Closing Payment Holdback in accordance with Section 1.4(a) of the PSA.