Projected Closing Balance Sheet definition
Examples of Projected Closing Balance Sheet in a sentence
The Closing Adjustment Amount shall be expressed in US$ based on a US$/RMB exchange rate as of the date the updated Projected Closing Balance Sheet is delivered.
The Cash Purchase Price shall be decreased by the amount (“Closing Adjustment Amount”) equal to the amount that the Net Assets in such updated Projected Closing Balance Sheet are less than RMB29,025,000 (“Target Net Asset Value”).
The Draft Balance Sheet shall be prepared in a manner consistent with the Projected Closing Balance Sheet.
All costs and expenses related in any way to the termination of employment (for any reason or no reason, and whether initiated by the Company or the employee) of any employee of the Company prior to the Closing, whether such costs and expenses have been incurred or are to be incurred in the future, are (unless fully paid and discharged prior to the Closing Date) reflected in full as Liabilities on the Projected Closing Balance Sheet.
To the Knowledge of the Company, the Accounts Receivable are current and collectible net of any reserves specifically applicable thereto shown on the Projected Closing Balance Sheet.
Notwithstanding any provision to the contrary in this Section 3.10, the Stockholders agree that to the extent that the Surviving Company receives from the landlord less than the amount of the leasehold security deposit of $150,512 appearing in the Projected Closing Balance Sheet following the termination of such leasehold interest, the Stockholders shall, on a pro rata basis, pay to the Surviving Company the amount equal to such shortfall.
The Projected Closing Balance Sheet (A) reflects the Company’s good faith determinations or estimates of the amounts set forth therein, and (B) has been prepared in accordance with GAAP and on a basis consistent with, and with no changes in, the method of application of the Company’s accounting policies.
Purchaser shall have received the Projected Closing Balance Sheet prior to the Closing, setting forth the Projected Closing Working Capital and the Company Indebtedness (including a calculation of the estimated Employee Obligations), in each case as of the Closing, prepared in accordance with the terms hereof.
Any accruals for incentive bonuses to employees of the Company for the current or prior fiscal year are accurately reflected on the Company Financial Statements and the Projected Closing Balance Sheet.
The Projected Closing Balance Sheet sets forth calculations of the Projected Closing Working Capital (including a separate calculation of the Tax Accrual) and the amount of Company Indebtedness (including a separate calculation for Employee Obligations), Merger Expenses and Employee Transaction Related Expenses, in each case as of the Closing and before giving effect to the payments to be made at the Closing pursuant to Section 2.4(b)(i)-(iii).