Representative Account definition
Examples of Representative Account in a sentence
The Stockholder Representative shall hold, invest, reinvest and disburse the Stockholder Representative Account in trust for all of the Company Securityholders and the Stockholder Representative Account shall not be used for any other purpose and shall not be available to Buyer or the Surviving Corporation to satisfy any claims hereunder; provided, however, that that amount of the Stockholder Fund shall not reduce the amount of the Actual Closing Date Payment for purposes of Section 6.5(a).
Regular Full-time employee working in the Sales Associate, Sales Representative, Account Executive or Sales Solution Executive position will be entitled to five (5) Personal Days Off per calendar year, at his basic rate of pay for the day.
If the Stockholder Representative wishes to sell any of the Parent Common Stock so designated by the Stockholder Representative to the Stockholder Representative Account, then the Stockholder Representative must request the approval of the Parent Committee, provided that each request seeks reimbursement of a minimum of the lesser of (i) $50,000 and (ii) the balance of the Stockholder Representative Account, and a maximum of $200,000 of expenses and professional fees.
Each Directory Advertising Sales Representative, Major Account Representative, Account Executive – New Media, Senior Account Manager, Account Manager, and Sales Executive who qualifies to drive a vehicle for Company business pursuant to (A) above, will receive a weekly payment of $175 for each week worked.
Upon the determination of the Representative that the Representative Fund is no longer necessary in connection with any claim for indemnification under Article VII or any dispute regarding Milestone Payments, the Representative shall distribute to the Company Equityholders (solely out of the Representative Fund) the Representative Account Payment.
Notices to a Representative shall be sent via email to the email address on the applicable Representative Application or updated Representative Account Profile or by personal delivery, nationally recognized overnight courier (with all fees pre-paid), facsimile, or certified or registered mail.
As soon as practicable following the later of (i) the final release of the final Net Milestone Payment or (ii) the final resolution of any claims made under this Agreement, the Representative shall distribute the Representative Account Payment (if any) to the Buyer and/or its paying agent for distribution to the Company Equityholders.
As a condition of employment, each Directory Advertising Sales Representative, Major Account Representative, Account Executive – New Media, Digital Sales Executive, Senior Account Manager, Account Manager, and Account Executive will be required to have a valid driver’s license and to provide an appropriate motor vehicle, acceptable to the Company as to appearance and operating condition, to be used for Company business.
Upon the determination of the Company Equityholder Representative that retaining any portion of the Company Equityholder Representative Expense Amount is no longer necessary, the Company Equityholder Representative shall deliver any then remaining portion of the Company Equityholder Representative Expense Amount (the “Company Equityholder Representative Account Payment”) to the Buyer for further payment in accordance with the Allocation Schedule.
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