Projected Closing Balance Sheet definition

Projected Closing Balance Sheet shall have that meaning set forth in Section 7.7(d)

Projected Closing Balance Sheet means an estimated balance sheet of the Company as of 11:59 pm on the Closing Date.

Projected Closing Balance Sheet means an estimated balance sheet of the Company as of the Closing (before giving effect to the payments to be made at the Closing pursuant to Section 2.4(b)(i)-(iii)).

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”).

• 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.

• 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).

• For the avoidance of doubt and without limiting any other representation or warranty made with respect to the Company Financial Statements, the Company Balance Sheet and statements of income, retained earnings and cash flows for the five-month period ended on the date of the Company Balance Sheet have been prepared in accordance with GAAP and the Projected Closing Balance Sheet has been prepared in accordance with GAAP.

• 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.

• 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 shall be attached to this Agreement as Schedule 1.5(B-1) and shall be prepared in a manner consistent with the Xxxxxxx Base Line Balance Sheet, together with the additional and/or revised accounting principles set forth on Schedule 1.5(B-2) attached hereto.

• 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.

• The Draft Balance Sheet shall be prepared in a manner consistent with the Projected Closing Balance Sheet.

More Definitions of Projected Closing Balance Sheet

Projected Closing Balance Sheet means a consolidated balance sheet prepared by Xxxxxxxx and delivered to Xxxxxx at least one Business Day prior to the Closing Date which reflects Xxxxxxxx'x reasonable projection of the Closing Balance Sheet and which, to the extent practical, shall be prepared according to GAAP, applied on a basis consistent with the policies and practices used to create the December 31, 2003 Balance Sheet; provided, however that the Projected Closing Balance Sheet will, among other items, reflect the Balance Sheet Adjustments even if not in accordance with GAAP.

Projected Closing Balance Sheet is defined in Section

Projected Closing Balance Sheet has the meaning set forth in Section 1.5(b) hereof.

Projected Closing Balance Sheet means a good faith estimated balance sheet of AirPatrol as determined in accordance with GAAP applied in a manner consistent with the AirPatrol Closing Financial Statements, as of 11:59 pm on the Closing Date (which shall assume that the Closing has not yet occurred as of such time).

Projected Closing Balance Sheet is defined in Section 1.04.