Examples of Stockholder Representative Escrow Amount in a sentence
At the Closing, amounts equal to each Stockholder’s Pro Rata Percentage of the Stockholder Representative Escrow Amount shall be withheld from the Upfront Cash Consideration otherwise payable to such Stockholder and shall be deposited by the Parent with the Escrow Agent.
Notwithstanding the foregoing, all rights of a Stockholder Representative to compensation and/or expense reimbursement, whether arising under this Agreement or otherwise, shall be satisfied exclusively by payment out of, and only to the extent of, the Stockholder Representative Escrow Amount, which shall be maintained by Bowditch & Xxxxx, LLP, as escrow agent.
Following the Closing, the Stockholder Representative Escrow Amount shall be distributed to the Stockholder Representative and/or the Stockholders in accordance with the terms of this Agreement and the Escrow Agreement.
A portion of the Cash Amount otherwise distributable to the Consideration Recipients shall be set aside and constitute the Primary Escrow Amount, the Secondary Escrow Amount and the Stockholder Representative Escrow Amount, respectively.
At the Closing, a portion of the Merger Consideration in an amount equal to the Stockholder Representative Escrow Amount shall be deposited by the Buyer for a period of two (2) years with the Escrow Agent pursuant to the Escrow Agreement.