Common use of Purpose Term Clause in Contracts

Purpose Term. This Agreement has been executed and the deposit of the Escrow Proceeds hereunder shall be made pursuant to Section 2.5 of the Asset Purchase Agreement. The deposit of the Escrow Proceeds has been made for the purpose of funding and securing, to the extent of the Escrow Proceeds, the Escrow Fund Obligations until the close of business on the one hundred eightieth (180th) day after the date hereof (the "Termination Date").

Appears in 2 contracts

Samples: Asset Purchase Agreement (Diametrics Medical Inc), Asset Purchase Agreement (Thoratec Corp)

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Purpose Term. This Escrow Agreement has been executed and the deposit of the Escrow Proceeds Funds hereunder shall be has been made pursuant to Section 2.5 9.5 of the Asset Stock Purchase and Sale Agreement. The deposit of the Escrow Proceeds Funds has been made for the purpose of funding and securing, to the extent of the Escrow Proceeds, securing the Escrow Fund Obligations Indemnities until the close of business on the one hundred eightieth (180th) 365th day after following the date hereof (the "Termination Date").

Appears in 1 contract

Samples: Stock Purchase and Sale Agreement (Universal Hospital Services Inc)

Purpose Term. This Agreement has been executed and the deposit of the Escrow Proceeds Funds hereunder shall be has been made pursuant to Section 2.5 1.2 of the Asset Stock Purchase Agreement. The deposit of the Escrow Proceeds Funds has been made for the purpose of funding and securing, to the extent of the Escrow Proceeds, securing the Escrow Fund Obligations Indemnities until the close of business on the one hundred eightieth (180th) 365th day after following the date hereof Closing Date (the "Termination Date").

Appears in 1 contract

Samples: Stock Purchase Agreement (Universal Hospital Services Inc)

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Purpose Term. This Agreement has been executed and the deposit of the Escrow Proceeds hereunder shall be made pursuant to Section 2.5 of the Asset Purchase Agreement. The deposit of the Escrow Proceeds has been made for the purpose of funding and securing, to the extent of the Escrow Proceeds, the Escrow Fund Obligations until the close of business on the one hundred eightieth (180th) day after the date hereof (the "Termination Date").

Appears in 1 contract

Samples: Escrow Agreement (Diametrics Medical Inc)

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