Escrow Share Amount definition
Examples of Escrow Share Amount in a sentence
The existence of the Escrow Share Amount and the Escrow Cash Amount will not be deemed to limit the amount of any allowable claims by any Buyer Indemnified Person pursuant to this Agreement for Losses in excess of the cash value of such Escrow Share Amount and the Escrow Cash Amount, nor shall any Buyer Indemnified Person have any obligation to seek recovery from the Escrow Share Amount or the Escrow Cash Amount prior to pursuing any of its other remedies under this ARTICLE VII or otherwise.
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.
At Closing, Buyer or KCAP, as applicable, will (in accordance with Section 2.03(b)(ii) and (iv)) deliver the Escrow Share Amount and the Escrow Cash Amount to the Escrow Agent.
The Company will, and will use its reasonable efforts to cause the Seller Representative to, promptly provide any required notices to the Escrow Agent to cause the timely release of the Backstop Guarantee Escrow Share Amount in accordance with the Merger Agreement to the extent that the Subscriber is entitled to such amounts in accordance with the Merger Agreement.
The aggregate amount of all Losses for which the Member Indemnitees shall be liable pursuant to this Section 9.3 shall not exceed the Escrow Share Amount held in Escrow at such time and the aggregate amount of all Losses for which the Buyer shall be liable pursuant to this Section 9.3 shall not exceed $100,000.
The Initial Consideration, the Adjusted Working Capital Increase and the Escrow Share Amount shall collectively be referred to herein as the “Merger Consideration”.
By virtue of this Agreement and as security for the indemnity obligations provided for in SECTION 7.2 hereof, at the Effective Time, the Stockholders and holders of Company Options will be deemed to have received and deposited with the Escrow Agent their pro rata portion of the Escrow Share Amount (plus any New Shares as defined in SECTION 7.3(d)(iii) hereof) without any act of the Stockholders.
The escrow created hereunder shall terminate without any further notice, action or deed, upon the earlier to occur of (i) the release of all Escrow Share Amount to the Buyer pursuant to Section 3(a) above, or (ii) twenty-four (24) months following the Closing Date (each, a “Termination Date”).
The portion of the claim amount allocable to the Option Escrow Cash Amount and the Option Escrow Share Amount of a Vested Assumed Option is referred to herein as the “Allocable Claim Amount” of such option.
The Escrow Cash Amount shall be deposited into one of the Escrow Funds (the "CASH ESCROW FUND") and the Escrow Share Amount shall be deposited into the other of the Escrow Funds (the "STOCK ESCROW FUND").