Retained Escrow Amount definition
Examples of Retained Escrow Amount in a sentence
For purposes of clarification, in the event that the amount of the Aggregate Outstanding Claims exceeds the remaining Escrow Amount, all the remaining Escrow Amount shall be retained in the Escrow Account as the Retained Escrow Amount.
The Retained Escrow Amount shall only be distributed by the Escrow Agent pursuant to (b) Joint Instructions or (c) a final written non-appealable order issued by a court of competent jurisdiction with respect to any Continuing Claim.
Upon receipt of the Filing Confirmation by the Escrow Agent, the Escrow Agent shall release the Retained Escrow Amount to the Company as contemplated by the Joint Escrow Instructions.
The Retained Escrow Amount shall be distributed in accordance with the terms and provisions of this ARTICLE X and the Escrow Agreement.
If the portion of the Retained Escrow Amount in respect of any Continuing Claim exceeds the Damages relating to such Continuing Claim, Regency and Member shall promptly execute Joint Instructions instructing the Escrow Agent to release and disburse the excess portion of the Retained Escrow Amount applicable to such Continuing Claim.