Common use of Release of Escrow Amount from Escrow Clause in Contracts

Release of Escrow Amount from Escrow. (a) Subject to the terms of the Escrow Agreement, in the event that the GTY Indemnitees are entitled to indemnification from the eCivis Holders pursuant to this Article 7, the Escrow Agent shall, upon the receipt of a joint written instruction from GTY and the eCivis Holders’ Representative, or written instruction from GTY attaching a final non-appealable court order from a court of competent jurisdiction setting forth the amount of such Loss, release and transfer to the GTY Indemnitees pursuant to this Article 7: either (x) an amount in cash equal to 100% of such Loss, to the extent the GTY Indemnitees have suffered out-of-pocket Losses, or (y) to the extent such Losses are not out-of-pocket Losses suffered by any GTY Indemnitee, an amount in cash equal to 60% of such Loss and the number of Escrow Shares equal to the lesser of:

Release of Escrow Amount from Escrow. (a) Subject to the terms of the Escrow Agreement, in the event that the GTY Indemnitees are entitled to indemnification from the eCivis OC Holders pursuant to this Article 7, the Escrow Agent shall, upon the receipt of a joint written instruction from GTY and the eCivis OC Holders’ Representative, or written instruction from GTY attaching a final non-appealable court order from a court of competent jurisdiction setting forth the amount of such Loss, release and transfer to the GTY Indemnitees pursuant to this Article 7: either (x) an amount in cash equal to 100% of such Loss, to the extent the GTY Indemnitees have suffered out-of-pocket Losses, or (y) to the extent such Losses are not out-of-pocket Losses suffered by any GTY Indemnitee, an amount in cash equal to 6050% of such Loss and the number of Escrow Shares equal to the lesser of: