Common use of Net Working Capital Amount Clause in Contracts

Net Working Capital Amount. (a) No later than sixty (60) days following the Closing Date, and after consultation with the Partnership, P66 Company shall deliver to the Partnership a written statement (the “Working Capital Statement”) setting forth in reasonable detail P66 Company’s calculation of the Net Working Capital Amount, determined as of 12:01 a.m. Houston time on the Effective Date. If the Net Working Capital Amount set forth in the Working Capital Statement is a positive number, then the Partnership shall pay to P66 Company the amount of such Net Working Capital Amount. If the Net Working Capital Amount set forth in the Working Capital Statement is a negative number, then P66 Company shall pay to the Partnership the absolute value of such Net Working Capital Amount. Any payment shall be made within five (5) business days of the date the Working Capital Statement is delivered to the Partnership. (b) The Parties shall use commercially reasonable efforts to agree upon the calculation of the Net Working Capital Amount and to resolve any differences with respect thereto. Except as provided herein, no adjustments shall be made to the Net Working Capital Amount after the Working Capital Statement is delivered to the Partnership.