Initial Holdback Amount definition

Initial Holdback Amount means $40,000,000.

Initial Holdback Amount has the meaning set forth in Section 2.11(a).

Initial Holdback Amount has the meaning specified in Section 3.1(d).

Examples of Initial Holdback Amount in a sentence

• The Initial Holdback Amount shall be withheld by the Buyer from the Purchase Price (as provided herein) and, subject to the terms of this Agreement, shall be available to satisfy any claims for indemnity made pursuant to Section 11.2(a) and Section 11.2(b).

• An irrevocable letter of credit from a reputable bank shall be obtained by the Buyer and delivered to the Seller Representative to secure the performance by the Buyer of its obligations hereunder in respect of the Initial Holdback Amount, and such additional amounts added to the Holdback Amount from time to time pursuant to Section 12.5(c) (the "Irrevocable Letter of Credit").

• In the event that any objection by Seller has not been resolved pursuant to this Section 1.06(c) within 90 days from the applicable Closing Date, Purchaser shall continue to hold an amount of the Initial Holdback Amount or Subsequent Holdback Amount, as the case may be, equal to the amount in dispute.

• The dollar amount to be payable at Closing by Purchaser to the Escrow Agent shall constitute an amount equal to (A) the Initial Holdback Amount minus (B) the Deposit (plus interest accrued thereon as prescribed in Section 2.3(b)).

• The term "Holdback Amount" shall mean the Initial Holdback Amount, as such amount is reduced from time to time by (1) any claims for indemnity paid against it, and (2) the April 1, 2005 and April 1, 2006 release payments to Sellers, each of which shall be administered in accordance with Section 12.6, and increased by any Aggregate Call Holdback Amount or Individual Put Holdback Amounts retained by the Buyer in connection with its purchase of Put/Call Shares pursuant to the Put and Call Agreement.

More Definitions of Initial Holdback Amount

Initial Holdback Amount is defined in Section 11.7(a).

Initial Holdback Amount means the Total Holdback Amount minus the First Holdback Reserve. “knowledge” (including any derivation thereof such as “known” or “knowing”) means: (i) with respect to Seller, the knowledge, with a duty of reasonable inquiry of Persons within the Seller, of Xxxxxxx and (ii) with respect to Buyer, the knowledge, with a duty of reasonable inquiry of Persons within Buyer, of Xxxxxxxxxxx X. Xxxxxx, Xxxxx X. Xxxx III and Xxxx X. Xxxxx;

Initial Holdback Amount means $900,000 of the Initial Payment that shall be withheld by GBB as Holdback Funds in accordance with Sections 2.2 and 2.4.

Initial Holdback Amount is defined in Section 11.7(a). (hhh) “Initial Holdback Deadline” is defined in Section 11.7(b).

Initial Holdback Amount means an amount in cash and/or Parent Options equal to $18,375,000 (as such number may be adjusted as a result of the application of the formulae set forth on Exhibit A hereto); provided, however, that the maximum portion of Initial Holdback Amount that may consist of Parent Options is set forth in the terms and conditions of Section 1.8(d)(ii) and Exhibit A hereto.

Initial Holdback Amount means an amount equal to the VAT Assessment less the Banorte VAT Loan Amount.

Initial Holdback Amount means the amount which is equal to 5% of the amount obtained by multiplying Estimated Book Value by 1.2.