Examples of Escrow Consideration in a sentence
The first recourse of the SYS Indemnified Parties for Losses shall be from the Escrow Consideration and pursuant to the Escrow Agreement.
Each Seller acknowledges and agrees to the use of the Agent to make payment of the Closing Cash Consideration, Cash Dividend Equivalent and Total Escrow Consideration; provided, however, Purchaser shall remain liable to each Seller for payment of the amounts payable by Purchaser under this Agreement notwithstanding the appointment of the Agent.
The Escrow Agent shall immediately establish and open an account to receive, invest, hold and disburse the funds that constitute (i) the Escrow Consideration (the “Escrow Fund”) and (ii) the Escrow Earnings (defined below).
Subject to the provisions of Article VIII and in accordance with the terms of the Escrow Agreement, Purchaser shall cause the Agent to deliver, within seven (7) days following the Indemnification Expiration Date, to each Seller such Seller’s Escrow Percentage of the amount then remaining in the Total Escrow Consideration without interest.
Purchaser shall cause the Agent to hold and safeguard the Indemnification Escrow Fund until the Indemnification Expiration Date and to dispose of the Total Escrow Consideration in accordance with the terms of this Article VIII and the Escrow Agreement.