Escrow Cash Amount definition
Examples of Escrow Cash Amount in a sentence
Such recovery shall initially be limited, in the case of claims brought pursuant to the Special Indemnification, to the forfeiture of that portion of the Special Escrow Fund having an aggregate value equal to such Losses and any Losses in excess of the Special Escrow Cash Amount shall be limited to the forfeiture of that portion of the Closing Escrow Fund having an aggregate value equal to all such Losses in excess of the Special Escrow Cash Amount.
The Escrow Share Amount and the Escrow Cash Amount shall be held by the Escrow Agent in accordance with the terms of the Escrow Agreement.
Notwithstanding anything to the contrary in this Agreement, no amounts distributed to Buyer out of the Escrow Cash Amount in accordance with the Escrow Agreement shall be applied against the $10 million limit described in the second sentence of this Section 7.01(c).
The Escrow Shares and the Escrow Cash Amount shall be kept in escrow under the terms of an escrow agreement to be entered into at the Closing by the Sellers, the Buyer and the Escrow Agent, substantially in the form set forth in Annex 3.3 to be finalized pursuant to the terms hereof (the “Escrow Agreement”).
Any cash payments according to this Section 3.3 shall be made within ten Business Days upon the occurrence of the obligation to release part of the Escrow Cash Amount.