Target NWC definition

Target NWC has the meaning set forth in Section 2.5(a).

Target NWC means $9,030,000.

Target NWC has the meaning provided such term in Exhibit A.

Examples of Target NWC in a sentence

• If the Final NWC is less than the Target NWC, then the amount of such shortfall (together with interest thereof from and including the Closing Date to the date of payment at a rate equal to six percent (6%) per annum) will reduce the Deferred Consideration Payment for the First Deferred Consideration Period on a dollar-for-dollar basis.

• Notwithstanding anything in this Section 7.1 to the contrary, the Group Companies may distribute cash to the Shareholders to the extent that, after giving effect to such distribution, the amount obtained by subtracting the Estimated Closing Company Transaction Expenses from the Current Assets exceeds the Target NWC Amount.

• The state board recommendations are sent to League delegates at least six weeks before the state convention.

• If the Net Working Capital shown on the Closing Date Statement is less than the Target NWC (the absolute value of such shortfall, the “Shortfall Amount”), the Seller shall promptly, and in any case within five Business Days after the date that the Closing Date Statement becomes final, pay to the Purchaser the Shortfall Amount.

• To the extent that the final Net Working Capital (as finally determined in accordance with the provisions of Section 2.3(a) above) exceeds the Target NWC (such excess amount, the “Positive NWC”), Buyer shall, pursuant to wire instructions delivered by the Stockholder Agent, pay an amount equal to such Positive NWC to the Seller in cash within five (5) Business Days of the Final NWC Determination.

More Definitions of Target NWC

Target NWC means $0.

Target NWC as defined in letter (d) of Section 5.2.

Target NWC is equal to euro 40,000,000.00;

Target NWC means Net Working Capital (as defined herein) equal to $5,300,000.

Target NWC means an amount equal to $0.

Target NWC has the meaning set forth in Exhibit K.

Target NWC would then be calculated as follows: Target NWC Percentage x the annualized trailing three month revenue for the period ending on last day of calendar month that precedes the Closing, unless the closing occurs on or after the 16th day of the calendar month, in which event it will be an amount equal to the Target NWC Percentage x the annualized trailing three month revenue for the period ending on the last day the calendar month in which the Closing occurred. Innospec Oil Field Chemicals LLC c/o Innospec, Inc. 0000 Xxxxx Xxxxxx Xxxxxxx Xxxxx 000 Xxxxxxxxx, XX 00000 Attention: Xxxxx Xxxxxxxx Vice President and General Counsel Re: Certain Matters Dear Xxxxx, Reference is made to that certain Membership Interest Purchase Agreement, dated as of September , 2014 (the “Purchase Agreement”), among IOC Holdings LLC, a Delaware limited liability company (“Seller”), Innospec Oil Field Chemicals, LLC, a Delaware limited liability company (“Buyer”), and Innospec Inc., a Delaware corporation. Capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Purchase Agreement.