Examples of Purchase Price Deficit in a sentence
If the Closing Date Inventory Adjustment Amount is greater than the Estimated Inventory Adjustment Amount (the amount of such excess, the “Purchase Price Deficit”), Buyers shall, within forty-five (45) Business Days after the final determination of the Closing Statement, promptly pay to Sellers’ Bank Account in cash by wire transfer of immediately available funds, an amount equal to the Purchase Price Deficit.
If the Cumulative Difference is a negative amount of $100,000 or greater, then upon receipt of the Purchase Price Deficit Statement, the Sellers shall owe to Buyer an amount equal to the Cumulative Difference, multiplied by 8.4 (the “Purchase Price Deficit Amount”).
Purchaser shall pay Seller all proceeds received with respect to the Uncollected Accounts Receivable, such proceeds to be remitted to Seller to Seller on a monthly basis (within 10 days of the end of the month that such amounts were collected) together with an accounting thereof; provided, however, that for the avoidance of doubt, in no event shall Purchaser be obligated to remit any proceeds that are, in the aggregate with all such remittances, greater than the Purchase Price Deficit.
The Arbitrator’s determination of the Closing Statement and the Purchase Price Deficit or Purchase Price Surplus, as the case may be, based thereon, shall be, absent manifest error, final, binding and conclusive on the parties hereto.
In addition to the lien releases described in this Section 4.5, Contractor shall deliver to the Title Company, as and when required by the Title Company in order to issue title insurance to any Financing Party and to provide an endorsement thereto with respect to mechanic’s liens pending disbursement coverage, (a) Contractor’s sworn statement and (b) a mechanic’s lien subordination agreement, each executed by Contractor and in form and substance acceptable to the Title Company.