Common use of Transfer of Shares Upon Waiver of Warranty Clause in Contracts

Transfer of Shares Upon Waiver of Warranty. In the event the Purchaser elects, pursuant to the provisions of Section 1.3(h) of the Merger Agreement, to waive the Profit Shortfall Adjustment and the Profit Surplus Adjustment, the Escrowed Shares shall be transferred, upon receipt of notice by Escrow Agent from Purchaser of such waiver, into the escrow account created pursuant to that certain Pledge, Security and Escrow Agreement dated as of even date herewith, to be treated in all respects as escrow shares thereunder and the Escrowed Shares in such case shall be distributed to the Company Shareholders pursuant to the terms thereof.

Transfer of Shares Upon Waiver of Warranty. In the event the Purchaser elects, pursuant to the provisions of Section 1.3(h) of the Merger Agreement, to waive the Profit Shortfall Adjustment and the Profit Surplus Adjustment, the Escrowed Shares shall be transferred, upon receipt of notice by Escrow Agent from Purchaser of such waiver, into the escrow account created pursuant to that certain Pledge, Security and Escrow Agreement dated as of even date herewith, to be treated in all respects as escrow shares thereunder and the Escrowed Shares in such case shall be distributed to the Company Shareholders Shareholder pursuant to the terms thereof.