Examples of Working Capital Escrow Amount in a sentence
The Working Capital Escrow Amount and the Shares Escrow Amount are being paid out of the Closing Purchase Price and are being paid to the Escrow Agent in lieu of being paid directly to Sellers.
The Escrow Amount shall be held in a segregated interest bearing trust accounts of the Escrow Agent for each of the Indemnity Escrow Amount and the Working Capital Escrow Amount, each designated in the name of the Purchaser and Vendor jointly.
For greater certainty, the escrow period for the Working Capital Escrow Amount shall terminate upon the release by the Escrow Agent of the Working Capital Escrow Amount in accordance with the provisions of Section 6 or this Section 7, as applicable.
At the Closing, the Purchaser shall pay (or cause to be paid) to the Seller, by wire transfer of immediately available funds to such account as specified in instructions delivered to the Purchaser by the Seller prior to the Closing, a cash amount equal to the Estimated Aggregate Purchase Price minus the sum of the Indemnity Escrow Amount and the Working Capital Escrow Amount (the “Closing Date Payment”).
Upon receipt of written instructions signed by the Purchaser, the Vendor and RBI in connection with any working capital adjustment pursuant to Section 2.8 of the Asset Purchase Agreement substantially in the form attached hereto as Schedule “B” (the “Form of Notice of Release”), the Escrow Agent shall without any further investigation promptly distribute and pay such amount from the Working Capital Escrow Amount as directed in accordance with the Form of Notice of Release.