Shareholder Representative Expense Fund definition
Shareholder Representative Expense Fund means a fund totaling One Million dollars ($1,000,000) that shall be maintained as a separate account in the Escrow, which shall be established on the Closing Date.
Shareholder Representative Expense Fund means an amount in cash equal to $300,000.
Shareholder Representative Expense Fund has the meaning set forth in Section 2.12(a)(ii).
Examples of Shareholder Representative Expense Fund in a sentence
For the avoidance of doubt, any costs and expenses incurred by the Shareholder Representative in connection with the foregoing shall be borne solely by the Company Shareholders (via the Shareholder Representative Expense Fund).
The Parties agree that the Shareholder Representative is not responsible for any tax reporting or withholding in connection with the distribution of the Shareholder Representative Expense Fund.
For tax purposes, the Shareholder Representative Expense Fund shall be treated as having been received and voluntarily set aside by the Company Indemnifying Parties at the time of Closing.
More Definitions of Shareholder Representative Expense Fund
Shareholder Representative Expense Fund means a fund to be established with the Escrow Agent, which shall not be part of the Indemnity Escrow Fund, to be used to reimburse the Shareholder Representative for expenses incurred by the Shareholder Representative in performing its duties hereunder (including legal fees and expenses related thereto).
Shareholder Representative Expense Fund means the Shareholder Representative Expense Amount, including any interest or other amounts earned thereon, and less any disbursements therefrom, to be held for the purpose of funding any expenses of Shareholder Representative arising in connection with the administration of Shareholder Representative’s duties in this Agreement after the Effective Time.
Shareholder Representative Expense Fund shall have the meaning given such term in Section 3.5(a).
Shareholder Representative Expense Fund means an amount equal to $500,000, to be held by the Shareholder Representative Escrow Agent, which shall be used to pay for costs and expenses incurred by Shareholder Representative on behalf of the Company Shareholders pursuant to Section 8.12 or otherwise.