Examples of Escrow Contributors in a sentence
Subject to Section 9.10(d) and Section 10.1(g), upon the closing of a Qualified IPO, following receipt of written instructions from Parent and the Stockholders’ Representative as set forth in the Escrow Agreement, the Escrow Agent shall distribute 2/3 of the Escrow Shares and/or Escrow Cash to the Escrow Contributors in accordance with Section 8.1 of the Escrow Agreement.
Except pursuant to Section 12 below, the interests of the Escrow Contributors in the Escrow Account and in the Escrow Shares (along with any Escrow Cash) shall not be assignable or transferable, other than by operation of law.
This Agreement may not be amended, modified, altered or supplemented other than by means of a written instrument duly executed and delivered on behalf of all of the parties hereto; provided, however, that any amendment executed and delivered by the Stockholders’ Representative shall be deemed to have been approved by and duly executed and delivered by all of the Escrow Contributors.
Upon the distribution of the Escrow Shares and Escrow Cash pursuant to Section 8.1 or 8.2 to the Escrow Contributors, or pursuant to Section 11.4 to the Stockholders’ Representative or his designees, the security interests created pursuant to this Section 2.3 with respect to such Escrow Shares and Escrow Cash shall be automatically released and terminated.
Ordinary cash dividends payable in respect of the Escrow Shares will be paid by Parent directly to the applicable Escrow Contributors and not to the Escrow Agent.
The Escrow Agreement and the Merger Agreement contemplate the release of 2/3 of the Escrow Shares and/or Escrow Cash to the Escrow Contributors upon the closing of a Qualified IPO and the release of any Escrow Shares and/or Escrow Cash remaining in the Escrow Fund on the Company Termination Date, subject in each case to specified exceptions.
Pieper (415) 202-5678 lynn.pieper@westwicke.com ALPHATEC SPINE ANNOUNCES FIRST QUARTER 2010 REVENUE AND FINANCIAL RESULTS - Revenue of $38.4 million; 25.6% growth over Q1 2009 Adjusted EBITDA of $5.4 million - CARLSBAD, Calif., May 10, 2010 – Alphatec Holdings, Inc.
If the Stockholders’ Representative shall die, become disabled or otherwise be unable to fulfill his responsibilities as agent of the Company Stockholders, then the Escrow Contributors who held a majority of the voting Company Capital Stock immediately prior to the Merger (the “Requisite Former Company Stockholders”) are authorized and shall, within 10 days after such death or disability, appoint a successor agent and, promptly thereafter, shall notify Parent of the identity of such successor.
Deliveries of portions of the Escrow Fund, together with any accrued interest thereon, to the Escrow Contributors pursuant to this Section 7.3(b) shall be made in proportion to their respective original contributions to the Escrow Fund (including contributions pursuant to Section 1.8 as well as Section 7.3(c)) and the allocations of such distributions between Escrow Shares and Escrow Cash shall be in the same proportions as the original contributions were so allocated.
As soon as all such claims have been resolved, the Escrow Agent shall deliver to the Escrow Contributors the remaining portion of the Escrow Fund, if any, not required to satisfy such claims (the "REMAINING PORTION"); provided, however, that to the extent that the Remaining Portion includes Reserve Option Shares, such shares shall not be delivered to the optionee, but rather shall be held in reserve by Parent and shall no longer be held as part of the Escrow Fund.