Examples of Litigation Escrow Amount in a sentence
The Indemnification Escrow Amount, the Special Litigation Escrow Amount and the Holder Representative Escrow Amount shall be held in trust by the Escrow Agent pursuant to the terms of the escrow agreement substantially in the form of Exhibit B (the “Escrow Agreement”) and shall be released in accordance with the terms thereof.
Notwithstanding the foregoing, the provisions in this Section 1.8(c) with respect to the Special Litigation Escrow Amount shall not apply if there is a Special Litigation Matter Resolution prior to the Closing.
Notwithstanding the foregoing, the provisions in this Section 4.17(a) with respect to the Special Litigation Escrow Amount shall not apply if there is a Special Litigation Matter Resolution prior to the Closing.
Notwithstanding the foregoing, the provisions in this Section 1.6(c) with respect to the Special Litigation Escrow Amount shall not apply if there is a Special Litigation Matter Resolution prior to the Closing.
At least five (5) Business Days prior to the Closing Date, Seller shall deliver to Purchaser a statement (the “Estimated Closing Statement”) setting forth Seller’s good faith estimate of the Consideration (such estimated amount, the “Estimated Consideration”), including each of its components, which shall, for the avoidance of doubt, include a calculation of the Holdback Shares and the Specific Litigation Escrow Amount.
Purchaser shall execute and deliver to Sellers at the Closing, a short term note (the “Short-Term Note”) dated the Closing Date, in a principal amount equal to $23,000,000 less the Company’s long-term debt and bank debt at Closing reflected on Schedule 4.8 (together with the Pre-Closing Litigation Escrow Amount, the “Initial Purchase Price”) as payment for the sale, transfer, conveyance, assignment and delivery of the Shares, subject to adjustment as set forth in Sections 2.3, 2.4, and 6.6(g).
The Person serving as the Holder Representative may be replaced from time to time by the holders of a majority in interest of the Indemnification Escrow Amount plus the Special Litigation Escrow Amount upon not less than ten days’ prior written notice to Buyer and with Buyer’s written consent, which shall not be unreasonably withheld, conditioned or delayed.
At Closing, Buyer shall deposit with the Escrow Agent a portion of the Merger Consideration equal to the sum of the Indemnification Escrow Amount plus the Special Litigation Escrow Amount plus the Holder Representative Escrow Amount.
The parties hereto hereby acknowledge and agree that the Indemnification Escrow Amount, the Special Litigation Escrow Amount and the Holder Representative Escrow Amount each shall be treated as an installment obligation for purposes of Section 453 of the Code, and no party shall take any action or filing position inconsistent with such characterization.