Common use of Cash Sweep Clause in Contracts

Cash Sweep. If the Closing Cash is in excess of the aggregate amount required for the Pending Closing Cash Uses, the Company may pay to each Seller a one-off cash dividend in the amount of such Seller’s Pro Rata Share of such excess amount immediately prior to the Closing in accordance with Applicable Law (“Cash Sweep”).

Appears in 3 contracts

Sources: Share Purchase Agreement, Share Purchase Agreement, Share Purchase Agreement (Nvidia Corp)