Examples of Special Escrow Amount in a sentence
Subject to the following requirements, the Special Escrow Amount shall be in existence immediately following the Effective Time and shall terminate at 5:00 p.m., local time on the fifth (5th) business day after the date on which Parent receives notice that it is eligible to accrue expenses against, and receive reimbursement for, the entire SBIR Amount (the "Special Escrow Period").
Following the termination of the Special Escrow Period, Parent shall direct the Escrow Agent to deliver to each of the Indemnifying Parties such person's Pro Rata Portion of the Special Escrow Amount.
If Parent receives notice that it is not eligible to accrue expenses against, and receive reimbursement for, the entire SBIR Amount the Special Escrow Period shall terminate and Parent shall be entitled to retain the entire Special Escrow Amount.
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 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.