VMY Deferred Payment Sample Clauses

VMY Deferred Payment. On the six month anniversary of the Closing -------------------- Date, DoveBid shall pay the VMY Shareholders (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) in cash $35,625 (the "VMY Deferred Payment"); provided that, if on such date, there is outstanding an unresolved Notice of Claim or Contested Claim (as defined in Article VIII hereof), an amount equal to the amount of Damages (as defined in Article VIII hereof) claimed in such Notice of Claim or Contested Claim shall be withheld from such payment to the VMY Shareholders (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng), pending resolution of the Notice of Claim or Contested Claim pursuant to the Article VIII hereof; and provided that, if on such date, there has been a resolved Notice of Claim or Contested Claim (as defined in Article VIII hereof) that has not been paid by a VMY Shareholder (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) or VMY, an amount equal to such unpaid amount shall be withheld from such payment to the VMY Shareholders (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) and such withheld amount shall be deemed to have been paid by such VMY Shareholder (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) or VMY to DoveBid.