Consideration Balance definition
Examples of Consideration Balance in a sentence
RS&T, at the Closing Date, will have the capability to pay the Consideration Balance in cash and will have sufficient cash, available and irrevocable lines of credit from reputable financial institutions or other sources of immediately available funds (and will have provided evidence thereof to UCC) that together are sufficient to enable RS&T to pay in full all fees and expenses when due under the Related Agreements.
All inventory and supplies reflected on the Closing Consideration Balance Sheet shall be so reflected on the basis of a complete physical count taken on the Closing Date, adjusted for receipts and shipments through the Closing Consideration Date, and shall be valued in accordance with Bit 3's prior practices as reflected in the Most Recent Audited Balance Sheet.
On the date of the Company's receipt of the said payment, the Company shall pay the Deferred Consideration Balance to the Vendor.
Bit 3, the Buyer and the Sellers will provide each other with full cooperation in connection with the preparation of the Closing Consideration Balance Sheet, and each shall have the right to review Peat Marwick's work papers in connection with the agreed upon procedures performed on the Closing Consideration Balance Sheet.
On 10 September 2015, the Purchaser paid a sum of HK$100,000,000 out of the Consideration Balance.
The Initial Consideration Balance Amount and the EBITDA Earnout Consideration are together known as the “Principal Amount”.
Pursuant to the Disposal Agreement (as amended and supplemented by the supplement agreement dated 27 February 2015 and 10 September 2015 and entered into among the Vendor, the Purchaser, the Company and the Guarantor (the “Supplemental Agreements”)), the Purchaser shall provide or procure the provision of the Properties as securities for its payment obligation of the Consideration Balance and the interest thereon.
Considered that the Purchase agreed to early repay the Consideration Balance before the due dates, the charges on the Properties for its payment obligation could be partially early released.
The Buyer will prepare and deliver to the Sellers within 45 days following the Closing Date a balance sheet for Bit 3 as of the close of business on the Closing Consideration Adjustment Date (the "Closing Consideration Balance Sheet").
Peat Marwick will apply certain procedures agreed upon by the Parties to specific accounts and/or items on the Closing Consideration Balance Sheet.