Net Working Capital Position

Net Working Capital Position. Shall mean (i) the current assets of AOL Mexico (or any time following the Reorganization, New AOL Mexico) at the time of determination, determined in accordance with generally accepted accounting principles in the United States ("GAAP"), but excluding, to the extent otherwise included therein, the value of any net operating losses of AOL Mexico which are to remain at AOL Mexico after giving effect to the Reorganization, any proceeds remaining in the Sale Proceeds Account (as defined below),... and any intercompany accounts receivable from AOLA or any of its affiliates, less (ii) the current liabilities of AOL Mexico (or at any time following the Reorganization, New AOL Mexico) at such time, determined in accordance with GAAP, but excluding, to the extent otherwise included therein, any indebtedness or accrued and unpaid interest in respect of the Notes and intercompany accounts payable to AOLA or any of its affiliates. Notwithstanding the foregoing, Sale Costs incurred after January 31, 2005 shall be excluded for purposes of establishing the Net Working Capital Position to the extent otherwise impacting the calculation thereof. View More