Closing Date Inventory definition

Closing Date Inventory means the quantities of Inventory as of the Closing Date.

Closing Date Inventory means the Inventory of the Purchased Business at the Effective Time calculated pursuant to Section 2.8(a).

Closing Date Inventory means the quantities of each item of Inventory as of the Closing Date.

Examples of Closing Date Inventory in a sentence

• Any Objection Notice shall specify, in reasonable detail to the extent Purchaser has the available information, those items or amounts as to which Purchaser disputes in good faith and Purchaser shall be deemed to have agreed with all other items and amounts contained in the Closing Statement and the calculations of the Closing Date Inventory Value set forth therein.

• Any subsequent adjustments to the consideration paid by the Acquiror for the Purchased Assets (including the Closing Date Inventory Value Adjustment, the Milestone Payments and the Royalty Payments) shall be reflected in such allocation as revised hereunder in manner consistent with Section 1060 of the Code.

• If EPI and the Acquiror are unable to reach agreement within such thirty (30) day period, then the Accountants shall be engaged at that time to review the Closing Date Inventory Value Statement, and shall make a determination as to the resolution of any adjustments.

• Within ten (10) days after the date on which the Closing Date Inventory Value Statement becomes final and binding on EPI and the Acquiror, the Acquiror shall pay the Closing Date Inventory Value Adjustment to EPI, if positive, or EPI shall pay the Closing Date Inventory Value Adjustment to the Acquiror, if negative.

• As promptly as practicable, but in any event not later than thirty (30) days after the Closing Date, EPI shall prepare and deliver to the Acquiror a statement calculating the Closing Date Inventory Value and the amount of any Closing Date Inventory Value Adjustment (the “Closing Date Inventory Value Statement”).

More Definitions of Closing Date Inventory

Closing Date Inventory means the dollar value of Inventory determined in accordance with the Inventory Methodology as of the close of business on the Closing Date.

Closing Date Inventory has the meaning ascribed thereto in Section 2.03(b).

Closing Date Inventory as set forth in Section 2.3(a).

Closing Date Inventory means the lesser of (A) $30,500,000 or (B) ---------------------- the value of Sellers' inventory determined as of the Closing Date, which shall equal the sum of the products of (i) a physical count of the individual components of the inventory as of the Closing Date multiplied by (ii) the standard cost of the individual components of the inventory as of the Closing Date determined in a manner consistent with the method used to prepare Sellers' consolidated year-end financial statements for the year ended December 31, 1998 (and consistent with Sellers' application of such method for the period since December 31, 1998) and using lower of cost or market to value purchased materials, where market value for purchased materials is determined as the current replacement cost for identical products bought in similar quantities as originally purchased by Sellers, with such total inventory value to be adjusted in accordance with GAAP for excess and obsolete inventory in the flange business and similarly adjusted for obsolete, but not excess, inventory in the undercarriage components business; provided, however, that if the inventory as initially determined in accordance with part (B) of this definition (such initial determination to be the "Preliminary Closing Date Inventory") is less ---------------------------------- than $30,500,000, then the Reduction In Undercarriage Inventory Due To Change In Material Costs (defined below) shall be determined and, for purposes of part (B) of this definition only, the amount by which the Reduction In Undercarriage Inventory Due To Change In Material Costs exceeds $1,500,000 shall be added back to the Preliminary Closing Date Inventory for purposes of determining the Closing Date Inventory. "Reduction In Undercarriage Inventory Due To Change In Material Costs" -------------------------------------------------------------------- shall mean the excess (but not less than zero) of (A) the Preliminary Closing Date Inventory, modified to value purchased materials in the undercarriage components business inventory at the valuations used in Sellers' inventory on the Balance Sheet, over (B) the Preliminary Closing Date Inventory.

Closing Date Inventory means the inventory set forth on the Closing Date Inventory List, less any inventory reflected on the Closing Date Inventory List that is not delivered to the Stores after the Closing Date as a result of the cancellation of the purchase order by the Seller after the Closing Date and which inventory Seller has not paid (nor is obligated to pay) for.

Closing Date Inventory means the amount of the Company's inventory on the Closing Date as reflected in the Closing Date Financial Statements;

Closing Date Inventory. The statement of Seller's inventory, as of the Closing Date, purchased by Purchaser under the Agreement, prepared in accordance with the terms of Section 3.3. ----------- "Equipment" -- the equipment of Seller to be sold to Purchaser hereunder at Closing, as set forth on Schedule 1.1. ------------