Closing Net Cash definition

Closing Net Cash means the amount (which may be a negative amount) of Closing Cash, less the amount of Closing Indebtedness.

Closing Net Cash means the difference between (a) the Closing Cash and (b) the Closing Indebtedness. For purposes of this definition, if the Closing Indebtedness exceeds the Closing Cash, then the Closing Net Cash amount will be represented by a negative number.

Closing Net Cash means any Net Cash as of the Closing.

Examples of Closing Net Cash in a sentence

• Upon the final determination, pursuant to Section 1.3(b) above, of the Final Closing Statement, the Purchase Price shall be recalculated using the Closing Net Working Capital (giving effect to the Net Working Capital Collar Amount), the Closing Net Cash Amount, the Closing Indebtedness and the Transaction Expenses, each as set forth on the Final Closing Statement (the “Final Adjustment”).

• When the Buyer delivers the Final Closing Statement, the Buyer shall also deliver to the Sellers’ Representative a certificate (i) certifying that the Final Closing Statement was prepared based on the records of the Companies and other information then available and in accordance with this Agreement and (ii) containing the Buyer’s good faith estimate (the “ Buyer’s Proposed Calculations”) of the Closing Net Working Capital, the Closing Net Cash Amount, the Closing Indebtedness and the Transaction Expenses.

• No matter shall be the subject of a claim by an Indemnified Party for any Loss to the extent that the amount of such Loss has been fully and accurately reflected in the Final Closing Working Capital or the Company Indebtedness included in the calculation of Final Closing Net Cash.

• Closing Net Working Capital, Closing Net Cash Amount and Closing Indebtedness shall be calculated in accordance with the Applicable Accounting Principles.

• Within ninety (90) days after the Closing Date, the Buyer shall prepare and deliver to the Sellers’ Representative a statement setting forth (in reasonable detail) a good faith estimate of (i) the Closing Net Working Capital, (ii) the Closing Net Cash Amount, (iii) the Closing Indebtedness, and (iv) the Transaction Expenses (the “ Final Closing Statement”).

More Definitions of Closing Net Cash

Closing Net Cash means (i) the sum of the aggregate cash and cash equivalents (including marketable securities, short-term investments, security deposits, and cash in the following reserve accounts or cash escrow accounts: N/A) of the Company, minus (ii) the amount of Estimated Indebtedness of the Company under Section 3.2(a).

Closing Net Cash shall have the meaning set forth in Section 2.04(a).

Closing Net Cash means, with respect to Group Companies as of the close of business on the Closing Date: (a) Company Cash minus (b) Indebtedness of the Group Companies. For the avoidance of doubt, Closing Net Cash may be a positive or negative number.

Closing Net Cash is defined in Section 2.4(a).

Closing Net Cash means (without duplication) an amount equal to (i) the consolidated cash and cash equivalents of the Company and its Subsidiaries, excluding settlement-related cash, determined in accordance with US GAAP, plus (ii) Fintex Bonds; plus (iii) loans to customers of the Company and its Subsidiaries, net; plus (iv) accrued interest receivable, and minus (v) accrued interest payable; minus (vi) deposits; in each case as at 4 p.m. New York City time on the Business Day immediately prior to the Closing and calculated in accordance with the line items as set forth in Exhibit C and consistent with the sample calculation of “Closing Net Cash” as of the date of this Agreement, set forth in Exhibit C for illustrative purposes only. For the purposes of the definition of Closing Net Cash, “Fintex Bonds” means the bonds issued by Fintex Capital S.A. as issuer under the subscription agreement dated 24 June 2020 as amended from time to time, with Credorax Bank Limited as the bondholder.

Closing Net Cash means an amount, which may be positive or negative, equal to (a) Cash, less (b) Closing Indebtedness, in each case calculated as of the Effective Time.

Closing Net Cash means the difference between Cash and Closing Indebtedness as of the Closing Date.