Primary Escrow Amount definition

Primary Escrow Amount shall have the meaning set forth in Section 1.2(b)(i).

Primary Escrow Amount means nineteen and three-quarters percent (19.75%) of the Primary Consideration.

Primary Escrow Amount means $1,500,000.

Examples of Primary Escrow Amount in a sentence

• A portion of the Cash Amount otherwise distributable to the Consideration Recipients shall be set aside and constitute the Primary Escrow Amount, the Secondary Escrow Amount and the Stockholder Representative Escrow Amount, respectively.

• Buyer will pay 50% of such fees and expenses and Representative (on behalf of the Sellers) shall pay the other 50% of such fees and expenses; provided that after disbursement of the entire Primary Escrow Amount, Representative (on behalf of the Sellers) shall pay 100% of such fees and expenses.

• All Specific Claims shall first be satisfied from the Legal Proceedings, Intellectual Property and Taxes Escrow Amount of the Escrow Fund under the Escrow Agreement, and all General Claims shall be satisfied solely from the Primary Escrow Amount of the Escrow Fund under the Escrow Agreement.

• The Effective Time Holders shall, based on their Pro Rata Share, be responsible for the payment of all fees and expenses reasonably incurred by the Representative in performing his duties under this Agreement and the Representative shall have the right to have any such fees and expenses reimbursed from the Primary Escrow Amount prior to any distribution to the Acquiror Indemnified Parties of any amounts in the Primary Escrow Fund.

• The Primary Escrow Amount and the Secondary Escrow Amount shall be subject to, and distributable in accordance with, the Escrow Fund established pursuant to Article VIII below and the Escrow Agreement.

• The Primary Escrow Amount and the Customer Escrow Amount will be released to Acquiror or the Effective Time Holders, as applicable, pursuant to the terms of the Escrow Agreement.

• Promptly at the Effective Time, UK Acquiror shall deposit each of the Primary Escrow Amount and the Secondary Escrow Amount (not including any UK Tax Credit Amount) into the Escrow Fund and the Stockholder Representative Escrow Amount into the account designated in writing by the Stockholder Representative pursuant to Section 8.6(c).

• The Primary Escrow Amount, together with all products and proceeds thereof (including all interest, gains and other income earned with respect thereto), shall be known collectively as the “Primary Escrow Funds.” Escrow Agent shall not disburse or release the Primary Escrow Funds except in accordance with the express terms and conditions of this Agreement.

• Buyer and Representative hereby appoint and designate Escrow Agent to receive the Primary Escrow Amount and the Secondary Escrow Amount (as defined below), maintain possession of the Deposit (as defined below) and act as escrow agent for the purposes set forth herein, and Escrow Agent hereby accepts such appointment and designation under the terms and conditions set forth herein.

More Definitions of Primary Escrow Amount

Primary Escrow Amount means cash in the amount of the sum of (i) TEN MILLION DOLLARS ($10,000,000) and (ii) if and when the UK Tax Credit Amount has been received by the UK Subsidiary, the UK Tax Credit Amount.