Retention Escrow Account definition

Retention Escrow Account means the account set up with the Escrow Agent (pursuant to the provisions of the Escrow Agreement) in which the Retention Escrow Amount is deposited.

Retention Escrow Account shall have the meaning set forth in Section 1E(i).

Retention Escrow Account means the interest bearing deposit account to be operated in accordance with clause 7 and the Escrow Accounts Instruction Letter in the joint names of the Sellers’ Solicitors and the Buyer’s Solicitors at National Westminster Bank plc; Sale Shares means the issued shares in the capital of the Company (including the Treasury Share) as set out in Schedule 1 and which, on Completion, together with the Partly Paid Shares constitute the entire issued and to be issued share capital of the Company; Scheme Loan means any loan entered into between the Company and a Treasury Share Seller for the purpose of enabling the Treasury Share Seller to finance the Treasury Share Purchase Price;

Examples of Retention Escrow Account in a sentence

• Suddenly an intercom crackles, jolting him with a booming and cheerful voice: MATT CUSHMAN'S VOICENo sports agents allowed! Ha ha.

• The parties agree that in the event the Bonus Retention Escrow Amount earns any income while in the Bonus Retention Escrow Account, it shall belong to the Surviving Corporation and shall be treated for accounting and tax purposes as the income of the Surviving Corporation and not the Company or the Shareholders.

• Provided however, in the event that the settlement of any Claims are pending at the completion this 18 (Eighteen) month period, such monies shall continue to be held in the Retention Escrow Account pending the settlement or resolution of the Relevant Claims, but on any such Relevant Claim being settled, withdrawn or deemed to be withdrawn, there shall be paid to the Promoter Seller Indemnifying Persons the remaining amount in such Retention Escrow Account.

• Immediately prior to the Effective Time, the Company shall deposit into the Bonus Retention Escrow Account the Bonus Retention Escrow Amount.

• In these cases a water balance may be performed (see subsection 2.1.11 for details).

More Definitions of Retention Escrow Account

Retention Escrow Account shall have the meaning ascribed to such term in Section 8.1 hereof.

Retention Escrow Account means a deposit account to be established and operated as further detailed in clause 6.4(b)(ii), Schedule 19 and the Retention Escrow Agreement;

Retention Escrow Account means the escrow account established pursuant to the Escrow Agreement into which the Retention Escrow Amount shall be deposited at Closing.

Retention Escrow Account shall have the meaning set forth in Section 2.3(b)(iii).

Retention Escrow Account has the meaning set forth in Section 2.10(b).

Retention Escrow Account has the meaning ascribed to such term in Section 1.1(c).

Retention Escrow Account. Section 1.06(e)