Examples of Special Escrow Amount in a sentence
Upon resolution with respect to each such claim, Purchaser Representative and Seller Representative shall promptly deliver joint written instructions to the Escrow Agent instructing the Escrow Agent to, within two Business Days, reimburse the applicable Purchaser Indemnitee for the amount of the related Loss, if any, specified in such joint written instruction from the Special Escrow Amount and release the remaining amounts retained in connection with such claim to Sellers.
Purchaser Representative and the Seller Representative shall instruct the Escrow Agent not to release such amount equal to each such claim amount from the Special Escrow Amount.
The Escrow Agreement will provide for, among other things, deposit of the Indemnification Escrow Amount and the Special Escrow Amount with the Escrow Agent and the maintenance and distribution thereof by the Escrow Agent for, in respect of the Indemnification Escrow Amount and Special Escrow Amount, a period of 18 months from and after the Closing.
Subject to the terms and conditions of the Merger Agreement, from and after the date of this Agreement, an Authorized Representative of the Buyer, (on behalf of Buyer Indemnified Persons), may be entitled to reimbursement out of the Indemnity Escrow Amount or the Special Escrow Amount, as applicable, for a portion of the Damages for which the Buyer Indemnified Persons are entitled to indemnification pursuant to Article 9 of the Merger Agreement.
The qui tam plaintiffs have not yet specified the claims on which they sue, nor has there been any discovery yet, so Anthem is unable to reduce its estimate of the losses demanded by the qui tam plaintiffs.Notably, the Special Escrow Amount is being held in an interest bearing account.