Parent Working Capital definition

Parent Working Capital. “Parent Working Capital” shall mean the Working Capital of Parent on a specified date; provided, that Parent Working Capital shall be adjusted upwards for the amount of any Closing Date Parent Transaction Expense Amount.

Parent Working Capital means the excess of current assets over current liabilities of the Parent and its Subsidiaries, determined on a consolidated basis in accordance with GAAP and adjusted to reflect the Net Accounting Adjustment.

Parent Working Capital means the current assets of Parent less the current liabilities of Parent; provided that, for purposes of this Agreement, current liabilities shall exclude all long-term debt (except the current portion thereof), liabilities or other obligations in connection with the Parent Special Warrants, costs incurred by Parent in connection with the transactions contemplated by this Agreement and other obligations that accelerate or become due as a result of the consummation of the transactions contemplated by this Agreement. For purposes of calculating Parent Working Capital under this definition, the fair market value of deferred revenues shall be deemed to equal 30% of its stated value.

Examples of Parent Working Capital in a sentence

• Stockholders’ Representative Proposed Parent Working Capital Deficit Amount.

• RMS McGladrey shall have delivered to Parent and SMB pursuant to Section 5.12 a Working Capital Notice setting forth that the Parent Working Capital is a positive number.

• Within 15 days prior to the contemplated Closing Date as agreed to by Parent and SMB, Parent shall prepare and deliver to McGladrey & Xxxxxx, LLP a working capital statement (the “Working Capital Report”) setting forth the current assets and current liabilities of Parent as of the previous business day and a calculation of the Parent Working Capital.

• The Closing Date Working Capital as finally determined by (A) failure of Parent to deliver a Parent Closing Balance Sheet and Parent Working Capital Statement, or (B) failure of the Representative to deliver a Working Capital Objection Statement, or (C) agreement of the Representative and Parent (including pursuant to a notice by the Representative that the Parent Working Capital Statement is acceptable), or (D) the Neutral Auditor, shall be the “Final Working Capital”.

• The Parent Working Capital Schedule shall be prepared in accordance with GAAP and the calculation of the Initial Working Capital Schedule.

• Such revised amount of such Closing Working Capital shall not reflect any difference from the amount of such Closing Working Capital set forth on the Parent Working Capital Statement other than differences required to reflect the resolution of such disputed items and amounts by the Dispute Accountants.

• If Executive fails to return any such property, the Company shall be entitled to deduct from the Severance an amount equal to the value of non-returned property.

• As of the Closing Date, the Parent Working Capital shall be no less than $1,000,000.

• Not later than the next business day following delivery of the Working Capital Report to McGladrey & Xxxxxx, LLP, McGladrey & Xxxxxx, LLP shall deliver to Parent and SMB, via facsimile in accordance with Section 9.01 hereunder, written notice (the “Working Capital Notice”) setting forth the Parent Working Capital.

• If after the Effective Date Great American and/or any Affiliate or Subsidiary thereof obtains a Parent Working Capital Facility, each Guarantor absolutely and unconditionally, jointly and severally, as a primary guarantor and not merely as a surety guarantees, agrees to be liable for, the due and punctual payment and performance (whether at the stated maturity, by required prepayment, by acceleration or otherwise) by each of the Borrowers of the Guaranteed Amount (the “PWCF Guaranty Obligation”).

More Definitions of Parent Working Capital

Parent Working Capital. On the Closing Date, after payments of amounts that Parent may pay in accordance with Section 6.14(i) hereof, Parent shall have at least $22,000,000 in cash or liquid securities available for the working capital needs of the Surviving Company and for general corporate purposes. $3,500,000 of such amount will be used to extinguish the Ourgame Notes at Closing pursuant to Section 6.18.”

Parent Working Capital means the Parent’s and Parent Subsidiaries’ consolidated current assets (including cash, cash equivalents and short-term investments; provided, however that any cash received as a result of the exercise of outstanding Parent options or warrants after the date of this Agreement shall not be included for this determination) minus their consolidated current liabilities (not including current portion of long-term liabilities, short-term indebtedness or accrued interest) as shown on the Parent Closing Balance Sheet.

Parent Working Capital means (a) the sum of (i) the current assets of the Parent Companies, plus (ii) the balance of the Parent’s general ledger account entitled account #99010, on the Parent’s consolidated balance sheet (the “Other Investment”) not to exceed $16,400,000 (to the extent not included in current assets) and only to the extent that it is used for the same purpose it is used for as of the date of this Agreement and to the extent that there have been no additions to such account other than for the purpose for which it is used as of the date of this Agreement, plus (iii) for the purposes of determining cash of Parent, the aggregate amount of exercise and/or conversion prices for all vested stock options and warrants to acquire Parent Common Stock, plus (iv) the principal amount of any promissory notes not classified as a current asset payable to Parent in connection with any vested shares of Parent Common Stock that were issued pursuant to restricted stock awards, plus (v) any cash held in trust for the benefit of fronting insurance partners (to the extent not already included in current assets), minus (b) the sum of (i) the current liabilities of the Parent Companies (excluding all Indebtedness of the Parent Companies otherwise includable therein), plus (ii) $10,000,000, in each case determined in accordance with GAAP on a consolidated basis as of the Closing; provided, however, that Parent Working Capital shall be calculated without taking into account Parent Asia Working Capital.