Examples of Initial Escrow Release Date in a sentence
All real and tangible personal property, including machinery, equipment and fixtures currently used by Virtual in the operation of its business is, and at the time of the Initial Escrow Release Date will be, in good operating condition and repair, ordinary wear and tear excepted, and are adequate and suitable for the purposes for which they are presently being used.
All accounts receivable to be assigned by Virtual to Telxon, as set forth on the Telxon Disclosure Schedule, and all accounts payable to be assumed by Telxon from Virtual, as set forth on the Telxon Disclosure Schedule, shall have been properly assigned and assumed, respectively, or both parties shall have agreed to such assignments and assumptions as of the Initial Escrow Release Date.
Notwithstanding the foregoing, FED covenants for the benefit of Telxon that it shall not declare any dividends with respect to the Virtual Shares which are payable on or prior to the Initial Escrow Release Date.
The parties hereto agree that either party may issue a mutually acceptable press release, either jointly or individually, upon the execution of this Agreement and upon the Initial Escrow Release Date.
From and after the Initial Escrow Release Date, the Securities will be guaranteed by the Guarantors party to the Initial Escrow Release Supplemental Indenture.