Completion Working Capital Statement definition

Completion Working Capital Statement means the statement of adjusted working capital to be prepared in accordance with paragraph 3 of part 1 of schedule 4 and agreed or determined in accordance with paragraph 5 thereof;

Completion Working Capital Statement means the statement of the consolidated net working capital of the Target Business in US Dollars as at the Effective Time as agreed (or deemed to be agreed) or as finally determined in accordance with the relevant provisions of Schedule 2 and in the form set out in Part 3 of Schedule 2;

Completion Working Capital Statement means the statement of the consolidated net working capital of the Target Companies and the Target Businesses as at the Effective Time as agreed (or deemed to be agreed) or as finally determined in accordance with the relevant provisions of Schedule 3;

Examples of Completion Working Capital Statement in a sentence

• To enable the Actual Working Capital Amount to be ascertained, as soon as reasonably practicable and by no later than 90 days following Completion, the Purchaser shall procure that the Group Companies prepare and deliver to the Sellers a draft of a consolidated working capital statement of the Group Companies as at Completion (the draft Completion Working Capital Statement).

• The draft Completion Working Capital Statement shall be prepared in the form and include the items shown in Part 2 of this schedule and in accordance with the specific policies set out in Part 3 of this schedule.

• The Completion Working Capital Statement shall be in the format set out in Part 3 of this Schedule.

• The Completion Working Capital Statement will be prepared, and the Working Capital at the Completion Date must be calculated, using the following principles and practices applied in the following order of priority: a in accordance with the Accounting Policies and (to the extent not inconsistent) the Financial Statements; and b on a basis consistent with the preparation of, and in the same format as (including the same line items), the Target Working Capital Statement.

• If Seller fails to deliver the Statement of Objections before the expiration of the Review Period, the Completion Working Capital Statement and the Post-Completion Adjustment, as the case may be, reflected in the Completion Working Capital Statement shall be deemed to have been accepted by Seller.

• Following Completion, the Sellers and the Buyer must procure that the Completion Working Capital Statement is prepared and finalised in accordance with Schedule 5.

• The Completion Working Capital Statement and Completion Net Cash Statement will be derived solely from the Completion Accounts and will not include assets or liabilities not included in them.

• The total consideration of approximately $74 million was net of provisional post-closing adjustment in accordance with the Share Purchase Agreement and subject to changes after the finalisation of the Completion Working Capital Statement.

• Once the Completion Working Capital Statement has been prepared the Vendors will deliver the Completion Working Capital Statement to the Purchaser for review.

• In the absence of such notice within the 45 day period, the Draft Statement shall become the Completion Working Capital Statement and shall (in the absence of manifest error) be final and binding on the parties for all purposes.

More Definitions of Completion Working Capital Statement

Completion Working Capital Statement means the statement setting out the Completion NWCV as at the close of business on the Completion Date to be prepared in accordance with schedule 2 (Completion Accounts) Conditions has the meaning given in schedule 11 (Conditions Precedent)

Completion Working Capital Statement has the meaning ascribed to it in Article 3.3.1;

Completion Working Capital Statement has the meaning given in paragraph 1.1 of Schedule 6;

Completion Working Capital Statement means a document in the form set out in Part B of Schedule 4 setting out the Working Capital of the Group at the Completion Date, prepared in accordance with clauses 5.1 and 5.2 ‘Condition Date’ means 14 July 2010 ‘Conditions’ means the conditions precedent contained in clause 4.1 ‘Confidentiality Agreement’ means a certain agreement dated 18 November 2009 between the Company and the Purchaser ‘Current Account Balances’ means the total amount of all indebtedness owed by any Group Company to the Vendors immediately prior to Completion (including interest (if any) thereon to Completion) ‘Data Room’ means the online data room maintained by or on behalf of the Vendors through which the Purchaser and its officers, employees, agents, advisors and financiers have had access to information and material relating to the Shares, Business and Assets

Completion Working Capital Statement means the amount of consolidated net Working Capital of the Group Companies as at the Completion Date as set out in the Completion Accounts;