Holdback Funds as defined in Section 2.3(c).
Holdback Funds. Wachovia/Xxxxx Fargo”). In this regard, at the Closing, Purchaser and Seller shall execute and deliver to Escrow Agent escrow instructions governing the disbursement of the Holdback Funds – Wachovia/Xxxxx Fargo in the form attached to this Amendment as Exhibit B-2 (the “Escrow Holdback Agreement – Wachovia/Xxxxx Fargo”). Escrow Agent shall disburse to Purchaser monthly from the Holdback Account – Wachovia/Xxxxx Fargo, the sum of Eleven Thousand Three Hundred Seventy Six and 75/100 Dollars ($11,376.75) (the “Monthly Disbursement”), representing the monthly rent under the Master Lease – Wachovia/Xxxxx Fargo. If, in accordance with the terms of the Master Lease – Wachovia/Xxxxx Fargo, Purchaser or Seller leases all or a portion of the Wachovia/Xxxxx Fargo space to a Replacement Tenant and such Replacement Tenant commences the payment of rent, Purchaser and Seller shall provide written notice thereof to Escrow Agent. If the minimum monthly rent or base rent payable by such Replacement Tenant pursuant to a Replacement Lease exceeds the Monthly Disbursement, such notice shall instruct the Escrow Agent to disburse the balance of the Holdback Funds – Wachovia/Xxxxx Fargo to Seller. If the minimum monthly rent or base rent payable by such Replacement Tenant is less than the Monthly Disbursement, such notice shall instruct Escrow Agent to reduce the Monthly Disbursement to Purchaser by the amount payable by the Replacement Tenant.
Holdback Funds means, as of any date of determination and with respect to any Receivable, the portion (if any) of the purchase price payable by the Seller to the related Claimant under the related Settlement Purchase Agreement held back by the Seller pursuant to the terms of such Settlement Purchase Agreement solely to address any possible administrative delays in the change of ownership of such Receivable and in an amount not to exceed the sum of the first three Scheduled Payments sold by such Claimant to the Seller, and that remains unsatisfied as of such date.
Examples of Holdback Funds in a sentence
Holdback Funds may be retained by DSHS in the event of default or breach of the Agreement by Contractor to cover costs or damages for Contractor’s failure to adequately perform work or to cover any credits or remedies owed by Contractor to DSHS.
If the directors have set aside Redemption Holdback Funds, the investors who have delivered their retraction requests before the applicable deadline will be entitled only to the net earnings from the Redemption Holdback Funds on a pro rata basis.
All payments of Holdback Funds are subject to DSHS’s exercise of its remedies herein and as provided under the law.
Loomis, J.M., Golledge, R.G., Klatzky, R.L., Speigle, J., Tietz., J., 1994.
The Purchaser made claims against the Holdback Funds in prior year.
More Definitions of Holdback Funds
Holdback Funds shall include all interest earned thereon, if any.
Holdback Funds means cash in the aggregate amount of $1,250,000.
Holdback Funds means the Escrow Cash and the Holdback Shares, as such amounts may be reduced from time to time after the Closing in accordance with this Agreement, including as a result of the release to the Equityholders or the Buyer or any Buyer Indemnitee or otherwise (but subject to the second sentence of Section 11.03(b)).
Holdback Funds means cash, without interest, in the amount equal to the Holdback Amount, as reduced (i) by the payment of the Holdback Bonus Amounts as set forth on Schedule III attached hereto, (ii) from time to time, by the application of offsets in satisfaction of claims by Buyer Indemnified Parties pursuant to Article 6 hereof or a working capital adjustment pursuant to Section 2.03 and Section 2.04 hereof, as applicable, and (iii) by the scheduled release of a portion of such funds on the First Holdback Payment Date and the Second Holdback Payment Date pursuant to the terms of this Agreement.
Holdback Funds means, as of any time of determination, the then balance (if any) of any Holdback Amount that has been deducted from Contingent Consideration pursuant to Section 2.1(e)(iii) and Section 8.5(d) of this Agreement, less (i) set offs or offsets therefrom in favor of Buyer Indemnified Parties prior to such time in accordance with this Agreement and (ii) any Claimed Amounts made against the Holdback Amount prior to such time in respect of a Continuing Claim (until such time as such Claimed Amounts are finally determined pursuant to this Agreement not to constitute Agreed Amounts or otherwise upon resolution of such claim hereunder).
Holdback Funds has the meaning set forth in the Section 7.5(b)(iii). (kk) “Imaged Agreement” has the meaning set forth in Section 10.19.
Holdback Funds means, as of any date of determination and with respect to any Series Receivable and any purchase price required to be paid by the Seller to a Claimant under the applicable Settlement Purchase Agreement or an Individual Annuity Seller under the applicable Annuity Purchase Agreement for the purchase thereof, the portion thereof held back by the Seller pursuant to the terms of such Settlement Purchase Agreement or Annuity Purchase Agreement solely to address any possible administrative delays in the change of ownership of such Receivable and in an amount not to exceed the sum of the first three Scheduled Payments sold by such Claimant or Individual Annuity Seller to the Seller and that remains unsatisfied as of such date.