Examples of Claim Expiration Date in a sentence
Upon conclusion of such arbitration, Escrow Agent shall make distribution of the amount awarded to Buyer in such arbitration, if any, and release and deliver the balance of the Claim Amount to the Shareholders if the Claim Expiration Date has passed (unless the Fund is the subject of another Claim Notice) or return the balance to the Fund if the Claim Expiration Date has not passed.
If Buyer has a Claim for Damages for which Buyer ------------ believes it is entitled to indemnification under Article 8 of the Purchase Agreement and which Buyer believes should be paid out of the Fund, prior to the Claim Expiration Date Buyer shall deliver to each of the Shareholders and on the Escrow Agent a written request ("Claim Notice") setting forth the amount of indemnity claimed ("Claim Amount") and in reasonable detail the basis therefor.
Escrow Agent shall release ------------------------------------ and deliver the Fund together with accrued interest, to the Shareholders on October 30, 2001, being the date that is eighteen (18) months after the Closing Date ("Claim Expiration Date"), unless on or prior to the Claim Expiration Date, Escrow Agent shall have received a Claim Notice (as defined in and in accordance with Section 3 below) from Buyer, in which case disbursement will be as provided herein.
If Xxxxx timely makes a Claim, and if at or after the expiration of the Claim Expiration Date, Xxxxx'x Claims (whether or not in dispute) aggregate less than the remaining amount of the Escrow Fund, then the Escrow Agent shall deliver the remaining amount of the Escrow Fund (less 110% of the amount of Xxxxx'x Claims) to the Stockholders pro rata in accordance with their respective ownership of Company Common Stock on the Closing Date, and the balance, if any, after resolution of Xxxxx'x Claims.
For the avoidance of doubt, there shall be no Claim Expiration Date for any claim by Assignee under Section 7.1(c) or Assignor under Section 7.2(c).