Adjusted Closing Statement definition
Examples of Adjusted Closing Statement in a sentence
The Adjusted Closing Statement, as agreed upon by the parties and/or determined under this subsection, shall be final and binding upon the parties.
The parties shall each pay half of the fees and expenses of the Mediator, except that the Mediator may assess the full amount of its fees and expenses against either party if it determines that party negotiated the Adjusted Closing Statement in bad faith.
Purchaser shall pay Seller (or Seller shall pay Purchaser as the case may be) an amount equal to the difference between the Estimated Purchase Price and the Purchase Price as reflected on the Adjusted Closing Statement plus interest thereon at the federal funds rate from the Closing Date to the date of payment.
Notwithstanding the foregoing, in the event that Parent or one of its Affiliates is required under applicable Law to make a payment in settlement of accrued vacation or paid time off of any Transferred Company Employee, Purchaser shall reimburse and hold harmless Parent and its Affiliates for such payment to the extent such liability was reflected on the Closing Statement or Adjusted Closing Statement, as the case may be.
The Neutral Accountant shall be instructed to review this Agreement (including this Section 1.6), as well as the Adjusted Closing Statement and the Notice of Disagreement and any other materials requested by the Neutral Accountant, and to only resolve the unresolved objections in accordance with the terms of this Agreement.