Release of Escrow Funds. The Escrow Funds shall be paid by the Escrow Agent in accordance with the following:
Release of Escrow Funds. The Escrow Agent shall disburse the Escrow Funds in accordance with the following procedures:
Release of Escrow Funds. The Escrow Agent shall release and distribute the Escrow Funds (including any Investment Earnings) as follows:
Release of Escrow Funds. (a) The release of Escrow Funds shall be subject to the terms of this Agreement and the Escrow Agreement.
Release of Escrow Funds. (a) The Deposit Escrow Agent shall deliver the Purchaser Deposit (including, without limitation, any interest or other earnings thereon), solely as follows: (i) to the Seller upon the Closing (as defined in the Stock Purchase Agreement) if the Seller and the Purchaser have both executed a written request to Deposit Escrow Agent no later than the business day prior to the Closing requesting the release of the Purchaser Deposit to the Seller at the Closing, provided that Deposit Escrow Agent shall release the Purchaser Deposit pursuant to this clause (i) only if Deposit Escrow Agent has received written instructions from both the Seller and the Purchaser on the day of Closing that the Closing is occurring; (ii) to the Seller upon the 10th business day following the receipt by Deposit Escrow Agent of a written request from the Seller requesting the release of the Purchaser Deposit accompanied by a statement either that the Seller has terminated the Stock Purchase Agreement either as a result of a material breach of the Stock Purchase Agreement by the Purchaser or as a result of a failure of any of the conditions set forth in Sections 7.1, 7.2, 7.3, 7.7 or 7.10 of the Stock Purchase Agreement, specifying in reasonable detail the basis for such request (which request shall be delivered to the Purchaser at the same time it is delivered to Deposit Escrow Agent and Deposit Escrow Agent shall confirm delivery of such request to the Purchaser); (iii) to the Purchaser upon the 10th business day following the receipt by Deposit Escrow Agent of a written request from the Purchaser requesting the release of the Purchaser Deposit accompanied by a statement that the Stock Purchase Agreement has been terminated for any reason except if the provisions described in clause (ii) apply, specifying in reasonable detail the basis for such request (which request shall be delivered to the Seller at the same time it is delivered to Deposit Escrow Agent and Deposit Escrow Agent shall confirm delivery of such request to the Seller); and (iv) to the Purchaser upon the 10th business day following the receipt by Deposit Escrow Agent of a written request from the Purchaser requesting the release of the Purchaser Deposit accompanied by a statement that the Seller's Bid Procedures Order (the "BID PROCEDURES ORDER"), which Bid Procedures Order shall include an approval and authorization by the United States Bankruptcy Court for the District of Delaware (the "BANKRUPTCY COURT") of the Seller'...
Release of Escrow Funds. The Escrow Funds shall be disbursed from the Escrow Account in accordance with the following:
Release of Escrow Funds. 4.1 Payments during the term of the Agreement or on termination of the Agreement
Release of Escrow Funds. (1) Subject to applicable law and as further described in the Prospectus, none of the Escrow Funds in the Escrow Account will be released from the Escrow Account until the earliest of: (i) the closing by the Corporation of a Qualifying Acquisition within the Permitted Timeline; (ii) a redemption (on the closing of a Qualifying Acquisition or on an extension of the Permitted Timeline, each as provided herein) by Holders of, or an automatic redemption of, Class A Restricted Voting Shares; (iii) a winding- up of the Corporation; and (iv) the requirement of the Corporation to pay taxes on the interest or certain other amounts earned on the Escrow Funds (including, if applicable, as described herein, under Part VI.1 of the Tax Act arising in connection with the redemption of the Class A Restricted Voting Shares), and for payment of certain expenses, as described herein.
Release of Escrow Funds. The Escrow Funds shall not be distributed to Seller until that date which is twelve (12) months after the Closing Date, and shall only be distributed in accordance with the terms and conditions of the Escrow Agreement. In the event that Buyer shall have perfected, prior to the expiration of such 12-month period, a claim for indemnification pursuant to Article 4, Buyer shall endeavor in good faith to determine a reasonable estimate of the maximum amount of such claim and shall instruct the Escrow Agent to distribute any excess amount of Escrow Funds to Seller in accordance with the terms of the Escrow Agreement.
