Closing Date Net Asset Value definition

Closing Date Net Asset Value as defined in Section 3.2 hereof.

Closing Date Net Asset Value means the amount by which the total assets of the Company and the Company Subsidiaries on a consolidated basis exceeds the total liabilities of the Company and the Company Subsidiaries on a consolidated basis, in each case as derived from the Closing Date Balance Sheet.

Closing Date Net Asset Value is as set forth on Exhibit A hereto as of the Effective Date, subject to updating such Exhibit A in connection with the Closing in accordance with the requirements of Section 6.14.

Examples of Closing Date Net Asset Value in a sentence

• The Seller shall also make available to the Buyer copies of all work papers and other documents and data as were used to prepare the Closing Date Balance Sheet (and any items therein) and the Closing Date Net Asset Value calculation.

• The decision of the Independent Accountant shall also include a certificate (the "SETTLEMENT AMOUNT CERTIFICATE") of the Independent Accountant setting forth the final amount of the Closing Date Net Asset Value and the amount, if any, by which the second installment of the Purchase Price payable six months after the Closing shall be increased or reduced.

• The Purchaser shall have the right to review and comment on such updated calculation of the Closing Date Net Asset Value, and, upon the mutual agreement of the Company and the Purchaser regarding such updated calculation of the Closing Date Net Asset Value, such updated calculation shall be substituted on Exhibit A for the calculation of the Closing Date Net Asset Value that is set forth on Exhibit A hereto as of the Effective Date.

• The net asset value of the Borrower most recently calculated prior to the Borrowing Date shall be greater than the Closing Date Net Asset Value times forty (40%) per cent.

• If the Closing Date Net Asset Value is less than the Estimated Net Asset Value, Rexam PLC shall within five Business Days after the Determination Date pay to the Purchaser an amount equal to the Estimated Net Asset Value minus the Closing Date Net Asset Value.

More Definitions of Closing Date Net Asset Value

Closing Date Net Asset Value means the book value of the Purchased Assets (excluding any value attributed to intangibles that were not on the balance sheet for the Business as of March 31, 1997 referred to in Section 2.3) minus the book value of the Assumed Obligations (not including any liabilities or obligations under the Retention Plan), in each case as carried on Seller's books of account in accordance with GAAP consistently applied (provided that in the event of any conflict between those principles required under GAAP and those principles required for consistency, the principles required under GAAP shall control) as of the Closing Date.

Closing Date Net Asset Value or “NAV” means the difference, as of 11:59 p.m., New York, New York time, on the Closing Date, between (a) the sum of the cash, accounts receivable, inventory, prepaids, equipment, royalty advance, and prepublication costs (at a 25% discount) which are included in Acquired Assets, as reflected on the Closing Date Balance Sheet, less (b) the sum of all of the Assumed Liabilities, as reflected on the Closing Date Balance Sheet, less (c) $225,000, as determined in accordance with Section 4.2(b).

Closing Date Net Asset Value has the meaning set forth in Section 2(b)(ii) below.

Closing Date Net Asset Value means (x) the total Current Assets shown on the Closing Date Working Capital Statement, minus (y) the total Current Liabilities shown on the Closing Date Working Capital Statement.

Closing Date Net Asset Value is defined in Section 1.5(c) hereof.

Closing Date Net Asset Value means the Net Asset Value as of the Closing Date;

Closing Date Net Asset Value means all assets (excluding goodwill) less current and long-term liabilities of Marquis (but shall only include the Closing Debt Amount to the extent such amount is not paid from the Purchase Price at Closing pursuant to Section 2.06.02(d)), each as shown on the Closing Date Balance Sheet; provided, however, that the determination of Closing Date Net Asset Value shall exclude the following as of the Closing Date: (i) Cash, (ii) Other Non-Operating Assets, and (iii) the book value of the Artisans Property. Subject to the proviso in the immediately preceding sentence, the Closing Date Net Asset Value shall be prepared in accordance with GAAP, and on a basis consistent with the historical accounting policies, methodologies, practices, and assumptions applied by Marquis, provided such historical policies, methodologies, practices, and assumptions are in accordance with GAAP. An example of the methodology to be used to calculate the Closing Date Net Asset Value is set forth on Schedule 1A.