Disbursement of the Escrow Shares. For a period of no more than six (6) months after the Effective Time, in case the CBH Payable Obligations, excluding the Transaction Expenses, exceed a total of $450,000, such excess shall be paid out of the Escrow Shares (valued at one dollar per share) with a notice provided according to the terms of the Escrow Agreement. CBC shall not be responsible for any payable obligations in excess beyond $450,000 and the Escrow Shares.
Appears in 2 contracts
Samples: Merger Agreement (NeoStem, Inc.), Merger Agreement (China Biopharmaceuticals Holdings Inc)
Disbursement of the Escrow Shares. For a period of no more than six (6) months after the Effective Time, in case the CBH Payable Obligations, excluding the Transaction Expenses, exceed a total of $450,000, such excess shall be paid out of the Escrow Shares (valued at one dollar per share) with a notice provided according to the terms of the Escrow Agreement. CBC shall not be responsible for any payable obligations in excess beyond $450,000 and the Escrow Shares.. [Remainder of Page Intentionally Left Blank] -67-
Appears in 1 contract
Samples: Merger Agreement
