Proposed Closing Working Capital definition

Proposed Closing Working Capital shall have the meaning set forth in Section 2.3(b) hereof.

Proposed Closing Working Capital is defined in Section 2.6(a).

Examples of Proposed Closing Working Capital in a sentence

• The Independent Accountants shall only decide the specific items under dispute by the parties and their decision for each Disputed Amount must be within the range of values assigned to each such item in the Proposed Closing Working Capital Statement and the Statement of Objections, respectively.

• On or prior to the last day of the Review Period, Sellers may object to the Proposed Closing Working Capital Statement by delivering to Buyer a written statement setting forth Sellers’ objections in reasonable detail, indicating each disputed item or amount and the basis for Sellers’ disagreement therewith (the “Statement of Objections”).

• The certificate shall be accompanied by the Closing Working Capital Statement as prepared by Buyer (the “Proposed Closing Working Capital Statement”), together with financial information and other documentation that supports Buyer’s determination of Closing Working Capital in the Proposed Closing Working Capital Statement.

• Its 18 judges are appointed for nine years by the President, the Parliament and the Congress of Judges of Ukraine (each institution appoints 6 judges).

• If Sellers fail to deliver the Statement of Objections before the expiration of the Review Period, the Proposed Closing Working Capital Statement shall be deemed to have been accepted by Sellers as the Closing Working Capital Statement and Buyer’s determination of Closing Working Capital reflected therein shall be deemed to have been accepted by Sellers.

• After receipt of the Proposed Closing Working Capital Statement, Sellers shall have thirty (30) days (the “Review Period”) to review the Proposed Closing Working Capital Statement.

• The Borrower shall ensure that BPDB and DESA design, construct, operate, and maintain the Project facilities in accordance with internationally accepted safety standards and relevant ADB environmental guidelines.

• The Proposed Closing Balance Sheet and the calculation of Proposed Closing Working Capital and Proposed Closing Debt Free Deductions set forth therein, after giving effect to any Agreed Adjustments and to the resolution of any Remaining Disputed Items set forth in the Adjustment Report, shall be deemed to be final and binding on the Parties as the Final Closing Balance Sheet, the Final Closing Working Capital and the Final Closing Debt Free Deductions for purposes of this Agreement.

• The Proposed Closing Balance Sheet and Proposed Closing Working Capital Statement shall be prepared in accordance with GAAP and shall be consistent with Past Practice.