PAYMENT OF EXHIBIT. SPACE ICSC’s payment/deposit policy requires all Exhibit Space requests for space up to 800 square feet be paid in full and submitted with this application. Exhibit Space requests over 800 square feet require a $5,000 deposit submitted with this application. Exhibit Spaces will not be reserved or assigned without the appropriate payment or deposit.
PAYMENT OF EXHIBIT. A" INDEBTEDNESS AND ESCROW. Telecomm agrees only to assume up to Two Hundred Fifty Thousand Dollars ($250,000) of liabilities as set forth in EXHIBIT A. Should the EXHIBIT "A" liabilities be settled by the Shareholders for less than Two Hundred Thousand Dollars ($200,000) the Shareholders and Xxxxxxx shall be entitled to receive the difference between Two Hundred Thousand Dollars ($200,000) and the amount required to be paid by Telecomm as additional consideration under this Agreement. The amount between Two Hundred Thousand Dollars ($200,000) and the Two Hundred Fifty Thousand Dollars ($250,000) that was not required to be paid of Telecomm shall be considered as a reduction in the acquisition cost and shall be retained by Telecomm. All EXHIBIT "A" liabilities in excess of Two Hundred Fifty Thousand Dollars ($250,000) and/or liabilities that were excluded from EXHIBIT "A", were not incurred in the ordinary course of business, and should have been scheduled as part of the EXHIBIT "A" liabilities shall be the sole and absolute responsibility of the Shareholders and shall be paid by the Shareholders within thirty (30) days after Telecomm has become aware of any such liability and/or claim. The Two Hundred Fifty Thousand Dollars ($250,000) to be paid by Telecomm on the Merger date shall be held in a separate escrow account which account shall require the signature of both Xxxxx Xxx, and one designated representative of Telecomm. Each check paid will require both their signatures.
