Examples of General Escrow Period in a sentence
The General Escrow Fund, less the amount of any claims made or paid for General Indemnifiable Damages during the General Escrow Period pursuant to the provisions of this Article IX and less the amount of any General Unresolved Claims, shall be paid to the Closing Company Shareholders within five (5) Business Days after the expiration of the General Escrow Period in accordance with such Closing Company Shareholder’s Pro Rata Share.
The amount retained in the General Escrow Fund after the expiration of the General Escrow Period with respect to a particular pending claim shall be available to Purchaser only with respect to such pending claim and shall not be available to Purchaser for any other pending claim.
Notwithstanding the foregoing, all or a portion of the General Escrow Fund may be retained beyond the General Escrow Period as provided in Section 5(a) of this Agreement.
No Reserve Amount shall be subject to any claim or right of offset except with respect to the claim for which such Reserve Amount was retained following the expiration of the General Escrow Period.
Any Escrow Funds remaining in the General Escrow at the end of the General Escrow Period and not subject to a General Escrow Claim Notice shall be distributed 100% to the Company Stockholders in accordance with their Percentage Interest.
Cash dividends and any other dividends or distributions in kind paid during the General Escrow Period on the General Escrow Shares (“General Escrow Dividends”) shall be placed into escrow and shall be distributed to the Prinicpals in accordance with their respective Pro Rata Shares within fifteen (15) business days following the expiration of the General Escrow Period.
Cash dividends and any other dividends or distributions in kind on the General Escrow Shares (“ General Escrow Dividends”) shall be distributed to the Company Shareholders in accordance with their respective Pro Rata Shares within fifteen (15) business days following the expiration of the General Escrow Period.
Any Escrow Funds remaining in the General Escrow at the end of the General Escrow Period and not subject to a General Escrow Claim Notice shall be distributed 100% to the Company Stockholder.
Cash dividends and any other dividends or distributions in kind on the General Escrow Shares (“General Escrow Dividends”) shall be distributed to the Company shareholders in accordance with their respective Pro Rata Shares within fifteen (15) business days following the expiration of the General Escrow Period.
Acquiror shall hold the General Escrow Cash for the General Escrow Period as security for the Effective Time Holders’ indemnification obligations for Damages under Article 12.