Tuesday, December 11, 2018 11:21:29 AM
Definition of cumulative purchase price (words found on the last two sentence of first paragraph of letter sent to Rene Morentin TRON CEO) *first paper
(i) acquisitions that take place in the ordinary course of the banking business in the management of existing claims towards ailing firms; and (ii) the acquisition of stakes in undertakings provided that the purchase price paid is less than 0,01 % of the last available balance sheet size of the institution at that moment and that the cumulative purchase prices paid for all such acquisitions from that moment until the end of the restructuring period is less than 0,025 % of its last available balance sheet size at that moment; (iii) the acquisition of a business, after obtaining the Authority's approval, if it is, in exceptional circumstances, necessary to restore financial stability or to ensure effective competition.
InMed confirmed on these letters the cumulative purchase price of ($10,990,000) which is a percent of payment TRON made on October 10, 2018 to start the acquisition of all properties after approval from them (InMed). In other words, Cumulative purchase works for when you are acquiring a business and based on last balance sheet (revenues and infrastructure cost), you pay a fraction of whole company price to ensure the deal. That gives confidence between buyer and seller that deal is serious and that both parts are looking forward to its completion.
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