Indemnification Escrow Agent definition
Examples of Indemnification Escrow Agent in a sentence
Acquiror, the Shareholders and the Indemnification Escrow Agent have caused this Agreement to be signed by their respective officers thereunto duly authorized, and their respective seals to be affixed hereto, as of the date first written above.
Sellers' Agents shall be entitled to dispose of all amounts deposited in the Collections Account from time to time as it chooses, in its sole discretion, and Purchaser and the Indemnification Escrow Agent shall have no rights therein; provided, however, that Purchasers shall have no liability whatsoever to Sellers with respect to Sellers' Agents disposition of any amounts disbursed by Sellers' Agent from the Collections Account.
The Indemnification Escrow Agent agrees to hold the Indemnification Escrow Shares in an escrow account (the “Escrow Account”), subject to the terms and conditions of this Agreement.
The Indemnification Escrow Agent shall be entitled to employ such legal counsel and other experts as it may deem necessary to properly advise it in connection with its obligations hereunder, and may rely on the advice of such counsel, and may pay them reasonable compensation therefor.
Purchaser will collect the MMP Accounts Receivable during the period beginning on the Closing Date and ending on the 180th day after the Closing Date (the "Collection Period") with the same care and diligence Purchaser uses with respect to its own accounts receivable and hold all such MMP Accounts Receivable in trust for Sellers until remitted by Purchaser to the Indemnification Escrow Agent or the Collections Account pursuant hereto.