Current Operating Liabilities definition

Current Operating Liabilities means the current portion of Sellers' trade accounts payable, cash overdrafts, accrued payroll, accrued payroll taxes, advance deposits, accrued sales and use taxes, accrued operating expenses and other general current operating liabilities other than the Excluded Liabilities.
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Current Operating Liabilities is calculated as set forth in Section 7.2(e) of the Company Disclosure Schedule.
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Current Operating Liabilities means, as of the Effective Time, accounts payable, net of any intercompany payables, accrued expenses, and other current liabilities.
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Examples of Current Operating Liabilities in a sentence

  • Prior to the date hereof, the Company has delivered to Purchaser the Company’s good faith estimate of the Current Operating Assets and Current Operating Liabilities and based on such estimates, the Company’s good faith estimate of the Closing Net Working Capital (the “Estimated Closing Net Working Capital”) and the Estimated Closing Cash Consideration (the “Estimated Closing Statement”).


More Definitions of Current Operating Liabilities

Current Operating Liabilities means all current obligations of Coudersport and Bucktail arising out of the day-to-day operation of the cable systems of Coudersport and Bucktail, to the extent such obligations would be set forth on a balance sheet of such entities prepared as of such date in accordance with generally accepted accounting principles; provided, however, that Current Operating Liabilities shall not include: (v) the Co-Borrowing Debt or any interest thereon, (w) obligations to indemnify, reimburse, advance expenses or hold harmless any officer, director or employee, (x) claims relating to fraud, misrepresentation, or similar actions arising on or prior to June 25, 2002, and (y) performance obligations related to the period after March 31, 2005 under contracts not in default. For purposes of this Agreement, “Current Assets” means the sum of: (A) the cash on hand, plus (B) accounts receivable of Coudersport and Bucktail, no part of which (other than an amount of $10 or less) is more than 90 days past due from the first day of the month to which the ▇▇▇▇ for such receivable relates, other than any accounts receivable from Adelphia, which are waived and released, plus (C) the prepaid expenses of which Coudersport and Bucktail can reasonably expect to realize the benefit. All cash collected by Adelphia as manager on behalf of Coudersport and Bucktail during the month of March 2005, to the extent not used to satisfy operating liabilities of Coudersport or Bucktail, shall be paid to Coudersport and Bucktail promptly following the Forfeiture Date. All cash collected by Adelphia as manager on behalf of Coudersport or Bucktail on or after April 1, 2005 shall be governed by Paragraph 13.
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Current Operating Liabilities means trade accounts payable, contracts payable, income taxes payable, accrued expenses and other current liabilities, all determined on a consolidated basis in accordance with GAAP.
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Current Operating Liabilities are any and all liabilities of the Company arising in the ordinary course of business.
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Related to Current Operating Liabilities

  • Contingent Liabilities means, respectively, each obligation and liability of the Credit Parties and all such obligations and liabilities of the Credit Parties incurred pursuant to any agreement, undertaking or arrangement by which any Credit Party either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertakes or agrees otherwise to assure or insure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

  • Environmental Costs and Liabilities means any and all losses, liabilities, obligations, damages, fines, penalties, judgments, actions, claims, costs and expenses (including, without limitation, fees, disbursements and expenses of legal counsel, experts, engineers and consultants and the costs of investigation and feasibility studies and remedial activities) arising from or under any Environmental Law or order or contract with any Governmental Authority or any other Person.

  • Parent Liabilities shall have the meaning set forth in Section 2.3(b).

  • Environmental Liabilities means all liabilities, monetary obligations, losses, damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Action required, by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Assumed Environmental Liabilities has the meaning specified in Section 7.4.