Common use of Payment of Additional Consideration Clause in Contracts

Payment of Additional Consideration. 3.1 On the date falling five Business Days after the calculation of the Working Capital and the Cash Amount becomes final and binding on the parties in accordance with this Agreement: 3.1.1 if the Working Capital is greater than a negative sum of €900,000, the Buyer shall pay to the Seller an amount equal to the Cash Amount; or 3.1.2 if the Working Capital is less than a negative sum of €900,000, the Buyer shall pay to the Seller an amount equal to the sum of the Cash Amount less the Deficit. For the avoidance of doubt, if the Deficit is greater than or equal to the Cash Amount, no payments shall be due pursuant to this paragraph 3. 3.2 For the purposes of this paragraph 3 the “Deficit” means the amount (if any) by which the Working Capital is less than a negative sum of €900,000. All payments pursuant to this paragraph shall be made by telegraphic transfer of immediately available funds to the bank accounts specified in clause 11.