CompUSA 2014 Annual Report Download - page 134

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2.4 Purchase Price Adjustment.
(a)
No less than three (3) business days prior to the Closing Date, the Seller shall deliver to the Buyer both on a
consolidated and consolidating basis:
(i) A balance sheet of the Companies (the “Estimated Balance Sheet”),
which shall set forth a good faith estimate
of the balance sheet pursuant to IFRS of the Companies as of the Effective Time;
(ii) A calculation of the total of the Companies’
Working Capital based on the Estimated Balance Sheet (the
“Estimated Working Capital”),
which shall be prepared consistent with Exhibit B (and reflecting IFRS presentation) and a calculation of the
amount by which the Estimated Working Capital differs from the Base Working Capital;
(iii) A statement of the Seller’
s good faith estimate of the amount of Cash that will be on hand immediately prior
to the Effective Time based on the Estimated Balance Sheet (the “Estimated Cash”); and
(iv)
A certificate of the Seller executed by the Chief Financial Officer of Seller that the Estimated Balance Sheet
and the Estimated Working Capital were prepared in accordance with this Agreement.
(b)
For purposes of the Closing, the Closing Amount will be adjusted if the Estimated Working Capital is greater than or
less than the Base Working Capital. If the Estimated Working Capital is greater than the Base Working Capital, then the adjustment will be an
increase on a dollar-for-
dollar basis by the amount of such excess. If the Estimated Working Capital is less than the Base Working Capital, then
the adjustment will be a decrease on a dollar-for-dollar basis by the amount of such deficiency.
(c) (i)
As promptly as practicable after the Closing Date, but in no event later than sixty (60) days after the Closing
Date, the Buyer shall prepare and deliver to the Seller the combined balance sheet of the Companies (the “Closing Date Balance Sheet”),
and
calculations of the amount of Cash immediately prior to the Effective Time (the “Closing Date Cash”)
and the Working Capital of the
Companies immediately prior to the Effective Time (the “Closing Date Working Capital”)
based on the Closing Date Balance Sheet (the
“Calculations”) and which shall be prepared consistent with Exhibit B and consistent with past practice (including Company’
s accounting
guidelines).
(ii) Buyer agrees that it shall cause the Company’
s accounting staff to be available at no cost to Seller to assist
the Seller with the review of the Closing Date Balance Sheet and for the purposes described in the next sentence. In addition, Buyer agrees that
TAKKT AG, Franz Haniel and CliftonLarson will be provided access to the Company and its books and records for the purposes of the review
of the Closing Date Balance Sheet and for purposes of the attestation (audit or review, depending on the entity), the preparation of income tax
returns and the deconsolidation of the balance sheets.
13