Release of Escrow Deposit. Also on the Closing Date, concurrently with the wire transfer of the Purchase Price in accordance with Section 3.1.1 above, Seller and LBI Media shall jointly execute and deliver to the Escrow Agent written instructions to terminate the Escrow Agreement and deliver the entire Escrow Deposit to LBI Media.
Release of Escrow Deposit. Upon the signing of this Agreement by the parties hereto, the Escrow Deposit shall be irrevocably released to the Sellers and shall be nonrefundable to Purchasers.
Release of Escrow Deposit. The Escrow Deposit shall be released by the Escrow Agent in accordance with the following schedule:
Release of Escrow Deposit. If this Agreement is terminated, the Escrow Deposit shall be disbursed as follows and in accordance with the terms and conditions of the Escrow Agreement:
Release of Escrow Deposit. Pursuant to and in accordance with the terms of the Escrow Agreement, the Escrow Deposit will be released to an account specified by the Company upon receipt by the Escrow Agent of evidence satisfactory to it that XGL shall have delivered and registered the Court Orders at Companies House in Cardiff. Payment of the Escrow Deposit shall discharge the obligations of the several Underwriters to purchase and pay for the Firm Securities on the First Closing Date, and to purchase and pay for any Optional Securities purchased on any Optional Closing Date that is on the same day ad the First Closing Date.
Release of Escrow Deposit. Also on the KEYH Closing Date, concurrently with the wire transfer of the Purchase Price to Seller, EDC and LBI Holdings shall jointly execute and deliver to the Escrow Agent written instructions to terminate the Escrow Agreement and deliver the entire Escrow Deposit then remaining to LBI Holdings.
Release of Escrow Deposit. The Escrow Agent shall release the Escrow Deposit only as follows:
Release of Escrow Deposit. Xxxxxx and Xxxxxx hereby authorize the Escrow Agent to take the following actions with respect to the Escrow Deposit:
Release of Escrow Deposit. Within five (5) business days following the first anniversary of the Closing Date, the Escrow Agent shall pay by check to the Escrow Securityholders listed in Schedule 1 so entitled the balance of the Escrow Amount MINUS an amount equal to the aggregate amount of all claims of Parent and the other Indemnitees (as defined in the Merger Agreement) as set forth in the Notice(s) of Claim then pending against the Escrow Securityholders (which shall continue to be held pursuant to Section 2(f)). Any payment to the Escrow Securityholders pursuant to this Section 3 or pursuant to the last sentence of Section 2(f) shall be paid to the Escrow Securityholders pro rata in accordance with their interests in the Escrow Amount as set forth on SCHEDULE 1 hereto.
Release of Escrow Deposit. In the event Sellers successfully complete ------------------------- a recapitalization resulting in reduction of indebtedness for borrowed money of not less than $250,000,000, the Sellers shall be entitled to request that Buyers consent to the release of the Escrow Deposit, which consent shall not be unreasonably withheld so long as Buyers reasonably believe, based upon their review of the financial statements (including balance sheet , income statement and statement of cash flows), that Buyers would not be materially impaired by the release of the Escrow Deposit. If such consent is granted, Buyers and Sellers shall jointly notify the Escrow Agent to release any undisbursed funds from the Escrow Deposit to Sellers. For clarification the release of the Escrow Deposit does not affect any parties' indemnification obligations under Article X hereof.
