Closing Date Inventory Amount definition

Closing Date Inventory Amount is an amount calculated on Schedule 1.7, which is equal to (i) the per item amount for each stock-keeping unit (“SKU”) of Inventory (together with cartons and inserts) multiplied by (ii) the relevant amounts of each SKU of Inventory owned by Seller at the Closing Date, which are set forth on the Inventory List.

Closing Date Inventory Amount has the meaning set forth in Section ----------------------------- ------- 2.6(b) (Purchase Price--Inventory Adjustment). ------

Closing Date Inventory Amount means the value of the Business Inventory set forth on the Closing Date Statement.

Examples of Closing Date Inventory Amount in a sentence

• The calculation of the Estimated Closing Date Inventory Amount will be prepared in accordance with the Accounting Protocol and will be subject to Purchaser’s written consent, not to be unreasonably withheld, conditioned or delayed.

• Within 30 days after the end of each month, Buyer will deliver to Seller a report of its Net Sales and Net Distributable Profits from the sale of Products during such calendar month and the remaining Closing Date Inventory Amount and will pay to Buyer all Net Distributable Profits once the aggregate amount of Net Distributable Profits exceeds the Closing Date Inventory Amount.

• In consideration of the right and license to sell the Products during the Transition Period, Seller shall pay to Buyer the Net Distributable Profits from the sale of such Products during the Transition Period once the aggregate amount of Net Distributable Profits during the Transition Period exceeds the Closing Date Inventory Amount, and Seller shall be entitled to retain an amount equal to the Closing Date Inventory Amount.

• The Inventory Statement shall be prepared on a basis consistent with Schedule 1.01(a)(i) and shall set forth the total of the net value of Inventory to be delivered at the Closing (the "Closing Date Inventory Amount").

• Following the Closing, Purchaser shall prepare or cause to be prepared, at Purchaser’s expense, a statement setting forth the Closing Date Accounts Receivable Amount (together with the Closing Date Inventory Amount, the “Closing Date Statement”), and a copy of the Closing Date Statement, along with Purchaser’s calculation of any adjustment to the Purchase Price required pursuant to Section 2.7(e), shall be delivered by Purchaser to Company within thirty (30) Business Days after the Closing Date.

• The Sellers shall deliver to the Buyer at 10:00 A.M. (local time) on the day prior to the Closing the Inventory Statement setting forth the Closing Date Inventory Amount.

• The determination of the Closing Date Inventory Amount and the Closing Date Accounts Receivable Amount shall become final and binding upon the parties on the thirtieth (30th) day following receipt of the Closing Date Statement by Company unless Company delivers written notice of its disagreement (a “Notice of Disagreement”) to Purchaser before such date.

• No later than forty-five (45) days after the Closing, Seller shall finalize the value of the Closing Date Inventory Amount, and all other computations necessary to determine the Closing Date Inventory Amount due to Seller, and shall submit such computations (the “Final Inventory Computations”) to Purchaser for review and approval.

• The Closing Date Inventory Amount shall be determined as provided in Section 3.1(b).

• In the event that pursuant to the Pre-Closing Business Arrangement Agreement or for any other reason, the Closing Date Inventory Amount is less than $550,050.62, then the Purchase Price shall be reduced by such deficit.

More Definitions of Closing Date Inventory Amount

Closing Date Inventory Amount means (1) if Purchaser ----------------------------- has no objections as aforesaid or fails to object to the valuation in writing to ComEd within the required thirty-day period, the aggregate valuation of the Fuels Inventory and the Other Inventories as determined by ComEd, or (2) if Purchaser objects as and when provided in subparagraph (ii) above, such aggregate valuation as adjusted to reflect the resolution of any such objections as provided in subparagraph (ii) above and the term "DETERMINATION DATE" means ------------------ the date on which such Closing Date Inventory Amount is so determined.

Closing Date Inventory Amount means (1) if Purchaser ----------------------------- has no objections as aforesaid or fails to object to the valuation in writing to ComEd within the required thirty-day period, the aggregate valuation of the Fuels Inventory and the Other Inventories as determined by ComEd, or (2) if Purchaser objects as and when provided in subparagraph (ii) above, such aggregate valuation as adjusted to reflect the resolution of any such objections as provided in subparagraph (ii) above and the term "Determination Date" means ------------------ the date on which such Closing Date Inventory Amount is so determined.

Closing Date Inventory Amount means the aggregate amount of the Inventory as of the Closing Date, net of reserves as of the Closing Date, in each case as determined in accordance with the Calculation Principles.

Closing Date Inventory Amount has the meaning set forth in clause 7.2.3.

Closing Date Inventory Amount means the book value of the Bars Inventory as of the Closing Date.