Closing Inventory Amount definition

Closing Inventory Amount means the value of the Transferred Inventory at the opening of business on the Closing Date calculated in accordance with the Accounting Principles.

Closing Inventory Amount means, as of the Closing Date, the book value of the Owned Inventory and the EMEA Owned Inventory, net of applicable provisions, that would be required to be reflected on a balance sheet of the Business as of such date prepared in accordance with GAAP applied in a manner consistent with the Nortel Accounting Principles (to the extent consistent with GAAP).

Closing Inventory Amount shall have the meaning set forth in Section 2.4(a).

Examples of Closing Inventory Amount in a sentence

• If Buyer fails to deliver such written notice within such 30-day period, Seller’s calculation of the Closing Inventory Amount shall be the Final Inventory Amount, which shall be binding upon the parties.

• In making its calculation in accordance with this Agreement, the Accounting Referee will make its determination based solely on presentations by Seller and Buyer and not by independent review and shall consider only those items or amounts in Seller’s calculation of the Closing Inventory Amount as to which Buyer has disagreed.

• The costs, fees and expenses of the Accounting Referee in connection with any dispute regarding the Closing Inventory Amount shall be borne proportionately by Buyer and Seller to the extent that Buyer’s and Seller’s respective calculations of Closing Inventory Amount differ from the Accounting Referee’s determination.

• The Closing Inventory Amount and Final Inventory Amount shall be determined in accordance with GAAP applied consistently with the Seller’s internal management accounting and quality control policies and shall be calculated without giving effect to any changes or adjustments arising from the transactions contemplated by this Agreement or the Ancillary Agreements.

• Buyer shall have the right to be present to observe and verify the taking of any physical inventory in conjunction with the preparation of Seller’s calculation of the Closing Inventory Amount, and, at any time after Seller’s notice of its calculation of the Closing Inventory Amount but prior to the determination of the Final Inventory Amount in accordance with this Section 2.08, may review and examine the procedures, books, records and work papers of Seller relating to such calculation.

More Definitions of Closing Inventory Amount

Closing Inventory Amount means value of the Inventory as of the Closing Date that are included in the Acquired Assets. The Inventory shall be valued at the Seller’s latest invoice cost, net of discounts and slow-moving and obsolete Inventory as agreed by Seller and Buyer.

Closing Inventory Amount shall have the meaning set forth in Section 1.13(b)(i).

Closing Inventory Amount shall have the meaning assigned thereto in Section 1.8(a).

Closing Inventory Amount means the net book value of the Inventory included in the Purchased Assets on the Closing Date.

Closing Inventory Amount means the value of the Business Inventory as of the Effective Time calculated in accordance with the Transaction Accounting Principles.

Closing Inventory Amount means the Inventory Amount as of the Effective Time. “Code” means the Internal Revenue Code of 1986.

Closing Inventory Amount has the meaning assigned to that term in Section 3.1.