Working Capital Objection definition
Examples of Working Capital Objection in a sentence
In the event Acquirer does not deliver a Working Capital Objection Notice within such 30 day period, Company Net Working Capital as set forth in the Working Capital Statement shall be deemed to be final and binding on the parties hereto.
If Shareholders’ Representative does not deliver a Working Capital Objection Notice within such thirty (30) calendar day period, then the Closing Date Working Capital Amount shall be deemed to be finally determined as the amount calculated by Buyer.
Any item or calculation included in the calculations of Closing Net Working Capital set forth in the Working Capital Initial Statement which is not specifically objected to in the Working Capital Objection Notice shall be deemed final and binding upon the parties hereto.
Notwithstanding the foregoing, if the parties have not referred such dispute to an Accounting Firm within 10 days after the end of the 20-day period following receipt by Parent of a Working Capital Objection Notice, either Acquirer or Parent may bring an arbitration in accordance with the terms of Section 9.9 to resolve such dispute.
If the parties are unable to resolve any dispute involving any matter set forth in a Working Capital Objection Notice within 20 days after receipt by Parent of a Working Capital Objection Notice, the parties shall refer such dispute to an Accounting Firm to decide the dispute within 30 days of such referral.
The scope of the Accounting Firm’s engagement shall be limited to the resolution of the disputed items described in the Working Capital Objection Notice that the parties hereto are unable to resolve, and the recalculation, if any, of Company Net Working Capital in light of such resolution.
If the Seller does not timely deliver a Working Capital Objection Notice to Buyer or if the Representative notifies Buyer that it has no objections, Buyer’s determination of the Revised Working Capital shall be final and binding on all parties.
If no Working Capital Objection Notice is delivered within the Working Capital Objection Period, the calculation of Closing Net Working Capital set forth in the Working Capital Initial Statement will be final and binding upon the parties hereto.
If Sellers’ Agent does not deliver to Purchaser a Working Capital Objection Statement by the end of the Working Capital Objection Period, or if during the Working Capital Objection Period Sellers’ Agent delivers to Purchaser written notice that Sellers’ Agent accepts the Purchaser Working Capital Statement and the Purchaser Working Capital Determination, then the Purchaser Working Capital Statement and the Purchaser Working Capital Determination shall be considered final, conclusive and binding.
If Sellers’ Agent and Purchaser are unable to resolve all or any of the disputed items within 60 days after delivery of the Working Capital Objection Statement, then the remaining disputed items shall be submitted to the Neutral Auditor.