Litigation Escrow Account definition

Litigation Escrow Account means an interest-bearing savings account maintained by Debtor solely for the purpose of paying, and sufficient to pay, all Litigation Claims in accordance with the terms of this Plan.
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Litigation Escrow Account means the interest bearing bank account to be opened by the Sellers at the Escrow Agent for purposes of the Escrow Agreement;
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Examples of Litigation Escrow Account in a sentence

  • It is specified that any amount due with respect to the Indemnified Litigation, shall be requested and released from the Indemnified Litigation Escrow Account in accordance with the provisions of Clauses 8.2, 8.3 and 8.4 above.

  • If the funds allocated from the Escrow Amount to the Working Capital Escrow Account portion of the Escrow Amount, are insufficient to satisfy such deficiency, then the pour-over provisions of the Litigation Escrow Account shall apply; provided, however, that any remaining deficiency shall be satisfied by deductions from the Earnout.

  • If and to the extent the Employment Litigation Losses exceed $2,500,000 (the amount of such excess above $2,500,000 being the “Excess Losses”), then the Surviving Corporation shall be entitled to recover such Excess Losses solely from the Employment Litigation Escrow Account up to the amount of the Employment Litigation Escrow Funds then available.

  • If, upon the third anniversary of the Closing Date, any amount remains in the Employment Litigation Escrow Account, then the Parent and the Representative shall promptly deliver joint written instructions to the Escrow Agent instructing the Escrow Agent to deliver any such remaining amounts to the Surviving Corporation for further distribution to the Former Common Securities Holders and Former Series C Preferred Holders in accordance with the Applicable Percentage.

  • The Youngdong Landlord shall have duly executed and delivered the Youngdong Lease Agreement.

  • For the avoidance of doubt, the foregoing release shall not prohibit Parent or the Surviving Corporation from making a claim (i) for a proper distribution from the Purchase Price Escrow Account with respect to the Actual Adjustment or (ii) for a proper distribution from the Employee Litigation Escrow Account in accordance with Section 5.14.