PPP Escrow Agreement definition

PPP Escrow Agreement means an Escrow Agreement, dated as of or around the Closing Date, by and among the Company and the PPP Lender (as escrow agent), in form and substance acceptable to the PPP Lender.

PPP Escrow Agreement means an agreement by and among the Target Representative, the PPP Escrow Agent and Holdings in form and substance acceptable to the parties.

PPP Escrow Agreement has the meaning set forth in Section 2.3(a)(xii).

Examples of PPP Escrow Agreement in a sentence

• Seller hereby agrees and acknowledges that if all or any portion of the PPP Escrow Amount is not released or paid to Seller for any reason, none of Buyer or any of its Affiliates shall be liable to Seller or any other Person for any additional consideration under this Agreement or under the PPP Escrow Agreement as a result of the Seller or such other Person not receiving any portion of the PPP Escrow Amount.

• The PPP Escrow Agreement will provide for the deposit of the principal plus accrued interest (plus any prepayment and similar fees) under the PPP Loan through the date of the Closing (together, the “PPP Escrow Amount”) by Buyer at the Closing in an account with the PPP Escrow Agent.

• Notwithstanding anything in this Agreement to the contrary, if, prior to the Closing, Seller delivers to Buyer evidence reasonably satisfactory to Buyer that the full amount of the PPP Loan has been forgiven prior to the Closing (the “Pre-Closing Forgiveness Condition”), then the PPP Escrow Agreement shall not be required.

• If all or any portion of the PPP Loan is forgiven after Closing (any such forgiven amounts, a “Forgiven Amount”), Buyer shall provide Seller with written notice of such Forgiven Amount and, to the extent permitted under the PPP Escrow Agreement, instruct the PPP Escrow Agent to disburse all such Forgiven Amount (or such amount that would be considered forgiven under the PPP Escrow Agreement) from the PPP Escrow Amount to Seller in accordance with the terms of the PPP Escrow Agreement.

• The Parent and Securityholders’ Representative shall negotiate in good faith to enter into the PPP Escrow Agreement, which shall provide that upon the CARES Determination Date, the Parent and Securityholders’ Representative shall deliver joint written instructions to the PPP Escrow Agent instructing the PPP Escrow Agent to release the PPP Escrow Amount in accordance with Section 2.13(b) herein.

More Definitions of PPP Escrow Agreement

PPP Escrow Agreement subject to Section 2.5, means that certain escrow agreement substantially in the form attached hereto as Exhibit F for purposes of the PPP Escrow Amount, to be entered into at the Closing by and among Purchaser, Seller and PPP Escrow Agent.

PPP Escrow Agreement means an escrow agreement by and between the Sellers and the PPP Escrow Agent, in form and substance reasonably satisfactory to the Buyer and in compliance with the applicable requirements of the U.S. Small Business Administration Procedural Notice, substantially in the form attached hereto as Exhibit G.

PPP Escrow Agreement has the meaning set forth in Section 2.1(d).

PPP Escrow Agreement means that certain escrow agreement in a customary form reasonably acceptable to the Parent and the Company for purposes of the PPP Escrow Amount, to be entered into at the Closing by and between Parent, Securityholders’ Representative and PPP Escrow Agent.

PPP Escrow Agreement means the Escrow Agreement to be entered into at the Closing by and among Link Staffing Services Corporation, a Delaware corporation, the PPP Lender and the PPP Escrow Agent, substantially in the form attached hereto as Exhibit E.

PPP Escrow Agreement means an Escrow Agreement, in a form to be provided by the PPP Escrow Agent, by and among the Purchaser, the Sellers’ Representative, and the PPP Escrow Agent.

PPP Escrow Agreement means an agreement by and among the Purchaser, the Seller and the PPP Lender, to be executed and delivered at the Closing.