TEC definition
Examples of TEC in a sentence
As part of the transaction, TEC structured its payment obligations to address outstanding compliance costs, beginning with a first tranche payment directed towards settling ACC’s overdue SEC filing fees for the quarters ending March 31, June 30, and September 30, 2024.
Notwithstanding any other provision in this Agreement, the Escrow Agent shall disburse the Escrow Funds (or any portion thereof) in accordance with a notice from either the Company or TEC of a final and non-appealable order from a court of competent jurisdiction, along with a copy of the order, pursuant to which such court has determined whether and to what extent the Company or TEC are entitled to distribution of the Escrow Funds (or any portion thereof).
Upon closing the stock purchase agreement, as defined below, the Parties agreed to revert the balance of the purchase price paid by TEC to the Xxxxxxxx Entities at least one hundred and thirty-five thousand dollars ($135,000.00).
Pursuant to Section 2.02 of the stock purchase agreement, within three business days after the execution of the stock purchase agreement, TEC shall deposit twenty-five thousand dollars ($25,000) (the "Initial Deposit") into the Escrow Account.
Following the completion of these filings, TEC will provide a second tranche payment covering ACC’s auditing, legal, and accounting expenses required for filing its annual SEC report on Form 10-K.