Initial Closing Working Capital means, without duplication, (a) the Current Assets of Newco and its Subsidiaries (including the Contributed Entities), less (b) the Current Liabilities of Newco and its Subsidiaries (including the Contributed Entities), determined as of the Initial Closing.
Initial Closing Working Capital is defined in Section 2.3(a)(i).
Initial Closing Working Capital prepared on a basis consistent with the preparation of the Balance Sheet, GAAP and the example set forth on Schedule 3.3 of the Disclosure Schedules, which schedule sets forth an example of the calculation of the Closing Working Capital as if the Closing Date had occurred on June 30, 2006, and the corresponding
Examples of Initial Closing Working Capital in a sentence
All 2009 Bonus Payments made by the Seller or accruals therefor shall not be taken into account in the calculation of Initial Closing Working Capital or Closing Working Capital.
More Definitions of Initial Closing Working Capital
Initial Closing Working Capital means an amount equal to the excess of (i) the aggregate current accounts receivable in the Acquired Business plus the current assets in the Acquired Business set forth on Schedule 2.5 over (ii) the aggregate current accounts payable in the Acquired Business plus current liabilities in the Acquired Business set forth on Schedule 2.5, calculated as of the Closing Date, in a manner consistent with the standards, procedures and policies used in preparing the Financial Statements.