Net Liquidity Balance definition
Net Liquidity Balance means the amount by which the Company’s Included Current Assets exceed the sum of the Company’s Included Current Liabilities; (2) the term “Included Current Assets” means all current assets as defined by GAAP, less assets held for sale and derivative contract fair value to the extent included in current assets; and (3) the term “Included Current Liabilities” means all current liabilities as defined by GAAP, less derivative contract fair value to the extent included in current liabilities, plus non-current portion of long-term debt.
Net Liquidity Balance means, with respect to the Company (or, as applicable, CSOC), the amount by which (i) the Company’s (or, as applicable, 50% of CSOC’s) current assets exceeds (ii) the sum of (A) the Company’s (or, as applicable, 50% of CSOC’s) current liabilities, plus, without duplication, (B) the current and long-term portions of the Company’s (or, as applicable, of 50% of CSOC’s) funded bank indebtedness. Notwithstanding the foregoing, the parties have agreed that the Net Liquidity Balance, for purposes of determining the Estimated Adustment Amount and the Adjustment Amount, shall be determined in accordance with, and utilizing the adjustment categories, approach, methodologies, policies, practices and procedures reflected in, Schedule 1.1.