Completion Working Capital Statement definition

Completion Working Capital Statement means a statement setting out the Completion Working Capital Amount, as shown in or derived from the Completion Accounts, and as prepared and agreed or determined in accordance with this Schedule 6;

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 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)

Examples of Completion Working Capital Statement in a sentence

• 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.

• If the working capital of the Target Group as set out in the Completion Working Capital Statement is higher or lower than AUD40 million (equivalent to approximately RMB181 million) plus the Target Group Cash and minus the Income Tax Liability, the Purchaser shall pay the Sellers the surplus or the Sellers shall pay the Purchaser the shortfall (as the case may be) in cash within five Business Days after the finalisation of the Completion Working Capital Statement.

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

• 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).

• 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 Independent Accountants shall only decide the specific items under dispute by the parties and their decision for each Disputed Amount must be within the range of values assigned to each such item in the Completion Working Capital Statement and the Statement of Objections, respectively.

• Except as otherwise provided herein, any payment of the Post-Completion Adjustment shall (A) be due (x) within five Business Days of acceptance of the applicable Completion Working Capital Statement or (y) if there are Disputed Amounts, then within five Business Days of the resolution described in sub-clause 5.3(G) above; and (B) be paid via wire transfer of immediately available funds to the account or accounts designated by the receiving party.

• 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 Purchaser must further procure that each Group Company consults and agrees with the Vendors any variations in the information in the Tax returns specified at sub clause b that would give rise to any change in the liability for Tax from that shown in the Completion Working Capital Statement.

• 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.

More Definitions of Completion Working Capital Statement

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

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;

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 has the meaning given in paragraph 1.1 of Schedule 6;

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;