CNC Machines Debt definition
CNC Machines Debt means the amount of debt recently incurred by the Acquired Companies to purchase CNC Machines for the Siemens Shaft Program in Arizona, such amount not to exceed One Hundred Thousand U.S. Dollars ($100,000). The amount of Assumed Debt as of the Closing Date shall have been estimated by the parties at a time as close to the Closing as possible. The Purchase Price shall be increased or decreased, as appropriate, after the Closing Date, by the amount by which the actual amount of Assumed Debt is less than or greater than the parties’ estimate of such amount (such difference being the “Debt Adjustment”) as part of the Post-Closing Adjustment as set forth in Section 1.5.