First Release Amount definition

First Release Amount means an amount equal to the amount standing to the credit of the Escrow Account as at the First Payment Date less £773,345.50 (seven hundred and seventy-three thousand three hundred and forty-five pounds sterling and fifty pence) and, if the outcome of such calculation is nil or a negative number, the First Release Amount shall be nil.

First Release Amount means Two Million Dollars ($2,000,000) minus the aggregate amount of any reduction in the Indemnification Holdback made by Holdco pursuant to Section 11.07(d) on or before the First Release Date.

First Release Amount means the number of shares of STAFFMARK Stock equal to the product of: (x) ten percent (10%) times (y) the number of shares of STAFFMARK Stock issued to the STOCKHOLDERS pursuant to the Merger that 2 are then beneficially owned by the STOCKHOLDERS as of the first day of the First Release Period."

Examples of First Release Amount in a sentence

• Cooling will not be uniform at the corner and could cause a void to form in the corner as shown.

• As claims for Damages made on or before the First Release Date are resolved, Holdco shall pay to Seller the amount by which (1) the remaining portion of the First Release Amount withheld pursuant to the preceding sentence exceeds (2) the aggregate amount of any claims for Damages made on or before the First Release Date which are pending at such time.

• The Escrow Agent shall distribute the Carveout Plan Portion of the First Release Amount, as set forth on the Payment Schedule, to Parent for the benefit of the Carveout Plan Participants (net of income and employment tax withholding).

• Not later than the ninety-first day following the Closing, Purchaser shall deliver to the Escrow Agent written instructions which shall included the number of shares of Purchaser Common Stock constituting the First Release Amount (as determined in accordance with the terms of this Agreement) and instructing the Escrow Agent to release the First Release Amount to the Shareholders.

• Promptly after its receipt of the Option Holder First Release Funds, the Surviving Corporation shall distribute to each Option Holder an amount in cash equal to (y) First Release Amount multiplied by (z) each such Option Holder’s Fully-Diluted Percentage, less any applicable withholding.

More Definitions of First Release Amount

First Release Amount has the meaning set forth in Section 8.5(b).

First Release Amount means a dollar amount equal to the least of (A) the First SEC Event Amount, if applicable, (B) the First Non-SEC Event Amount, if applicable, (C) the First Maximum Amount and (D) the dollar amount available in the Holder's Master Restricted Account.

First Release Amount means the amount equal to (A) TWENTY-FIVE MILLION DOLLARS ($25,000,000), minus (B) the sum of all Losses incurred or paid by the Buyer Indemnified Parties in the aggregate with respect to which the Buyer Indemnified Parties are entitled to indemnification pursuant to this Article V as of the First Release Date, minus (C) the sum of all Losses estimated in good faith to result from Outstanding Claims as of the First Release Date. “Outstanding Claims” means, as of the applicable date of determination, then-pending indemnification claims or demands for indemnification pursuant to this Article V. For the avoidance of doubt, if the First Release Amount is less than zero, then the First Release Amount shall be deemed to be zero.

First Release Amount means an amount equal to the amount standing to the credit of the Escrow Account as at the First Payment Date less £773,345.50 (seven hundred and seventy-three thousand three hundred and forty-five pounds sterling and fifty xxxxx) and, if the outcome of such calculation is nil or a negative number, the First Release Amount shall be nil.

First Release Amount means an amount equal to (a) $15,000,000 minus (b) any amounts disbursed from the Escrow Account prior to the First Release Date.

First Release Amount has the meaning ascribed thereto in Section 2.6.

First Release Amount has the meaning ascribed to it in clause 3.5(f)(i).