Examples of Target Net Debt in a sentence
As described above, the determination of Net Debt Surplus Amount or Net Debt Excess Amount is based on a comparison of (i) Closing Date Net Debt and (ii) Target Net Debt for the Plan Debtors.
Target Net Debt is defined in the Investment Agreements as equal to $22,970,800,000.If Closing Date Net Debt is less than Target Net Debt, then a Net Debt Surplus Amount will exist, the amount of which will be calculated as Target Net Debt less Closing Date Net Debt.
The Target Net Debt Amount shall not be decreased pursuant to the previous sentence for any day on which the Closing does not occur as a result of a material breach of the Merger Agreement by Parent or Merger Sub.
If the amount of estimated Net Debt as of the Closing Date (the “Estimated Net Debt”) is less than the Target Net Debt, the cash portion of the Closing Amount will be increased by an amount equal to such shortfall, and if the Estimated Net Debt is greater than the Target Net Debt, the cash portion of the Closing Amount will be reduced by an amount equal to such excess (the amount of such increase or decrease shall be referred to as the “Estimated Net Debt Adjustment”).
The sum of (i) the amount calculated above and (ii) Thirty-Five Million Dollars ($35,000,000) shall be referred to herein as the "Target Net Debt Amount." To the extent the Actual Debt Amount exceeds the Target Net Debt Amount (any such excess, the "Debt Adjustment Amount"), Stockholder shall, simultaneously with the Stock Purchase Closing, pay the Debt Adjustment Amount to the Company.