locked-box
Business adjective
A deal mechanism that fixes the purchase price at a past balance-sheet date, with no post-closing true-up.
The sellers pushed for a locked-box, so any value the business generates after that date now accrues to us as buyer.
Business noun
A pricing mechanism that fixes the purchase price at a historical balance-sheet date, with the seller bearing any value leakage to the buyer after that point.
We're pushing for a locked box off the March accounts so we're not stuck haggling over completion accounts for six months post-close.
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