Net Working Capital Principles definition

Net Working Capital Principles means the accounting principles, procedures and valuation and other principles set forth on Exhibit B.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Net Working Capital Principles means (A) GAAP and (B) to the extent not inconsistent with the foregoing clause (A), the accounting methods, policies, practices, procedures, conventions, classifications, definitions, principles, judgments, techniques and estimation methodologies, including with respect to the nature of accounts, level of reserves or level of accruals, adopted in connection with the most recent audited Financial Statements.

Net Working Capital Principles means the accounting principles, policies and practices reflected on Schedule 2.3(b).

Examples of Net Working Capital Principles in a sentence

Company shall prepare and deliver to Purchaser at the Closing a good faith estimate of Closing Date Net Working Capital (“Estimated Closing Date Net Working Capital”), determined in accordance with the Net Working Capital Principles as if it were the actual Closing Date Net Working Capital, but based upon Company’s review of financial information then available and inquiries of personnel responsible for the preparation of the financial information relating to Company in the ordinary course of business.
The Closing Date Net Working Capital Statement shall be prepared in accordance with the Net Working Capital Principles.
The NWC Statement shall be prepared in accordance with the Net Working Capital Principles.
The Accounting Firm shall be instructed to resolve such disputes within thirty (30) days after its appointment and shall resolve such disputes based solely on the presentations of Purchaser and Seller as to the calculation of the disputed items in accordance with the Net Working Capital Principles.
Calculation of the Final Net Working Capital (including Final Accounts Receivable, Final Prepaid Expenses, Final Accounts Payable and Final Accrued Expenses) and Final Closing Balance Sheet shall be in a manner consistent with the Net Working Capital Principles.

More Definitions of Net Working Capital Principles

Net Working Capital Principles means the accounting principles, practices and procedures set forth on Schedule B, applied on a basis consistent with the preparation of the Target Net Working Capital.

Net Working Capital Principles means (A) GAAP and (B) to the extent not inconsistent with the foregoingclause (A), the accounting methods, policies, practices, procedures, conventions, classifications, definitions, principles, judgments, techniques and estimation methodologies, including with respect to the nature of accounts, level of reserves or level of accruals, adopted in connection with the most recent audited Financial Statements.

Net Working Capital Principles as defined in Section 2.5(a). Order: any binding award, decision, order, injunction, judgment, decree, ruling or verdict entered, issued, made or rendered by, or assessment or arbitration award of, any Governmental Authority or arbitrator.

Net Working Capital Principles means the accounting principles, methodologies, procedures and classifications set forth on Schedule 1.1(a).

Net Working Capital Principles means the Company Accounting Principles, except to the extent modified by the accounting methods, policies, principles, practices and procedures (including classifications, judgments and estimation methodologies) described in Exhibit 11.1(f) or used in the preparation of Net Working Capital as set forth on such Exhibit. In the event of a conflict between the Company Accounting Principles and any accounting methods, policies, principles, practices and procedures (including classifications, judgments and estimation methodologies) described in Exhibit 11.1(f), the items in Exhibit 11.1(f) shall control.

Net Working Capital Principles is defined in Section 3.2.1.

Net Working Capital Principles means (i) other than in the case of accounts receivable, whether billed or unbilled (A) GAAP and (B) to the extent not inconsistent with the foregoing clause (A), the accounting methods, policies, practices, procedures, conventions, classifications, definitions, principles, judgments, techniques and estimation methodologies, including with respect to the nature of accounts, level of reserves or level of accruals, adopted in connection with the Company’s unreviewed Financial Statements for the year ended December 31, 2021, and (ii) in the case of revenue and accounts receivable, whether billed or unbilled the accounting methods, policies, practices, procedures, conventions, classifications, definitions, principles, judgments, techniques and estimation methodologies, including with respect to the nature of accounts, level of reserves or level of accruals, adopted in connection with the Company’s unreviewed Financial Statements for the year ended December 31, 2021. For the avoidance of doubt, the manner in which the Company recognizes revenue with regard to certain software projects referred to as “sprints” is described in Section 3.14 of the Disclosure Schedule. In the event that as of the Closing Date the number of workdays with respect to a particular project is evenly split between the period through the Closing Date and the post-Closing period, then for accounting purposes the revenue related to such sprint shall be evenly split, 50/50, between the period through the Closing Date and the post-Closing period. Also, for the avoidance of doubt, if the Closing Date occurs other than on a month-end, the Estimated Closing Balance Sheet and the Final Closing Balance Sheet and all calculations based on such balance sheet shall be prepared based on the application of the New Working Capital Principles as if this was a calendar month-end.