Voluntary Escrow Agreement definition
Examples of Voluntary Escrow Agreement in a sentence
The Voluntary Escrow Agreement provides that thirty-three (33%) of the Escrowed Securities will be released from escrow on the date that is six months after completion of the Liquidity Event and thirty-three percent (33%) of the Escrowed Securities will be released from escrow 12 months after completion of the Liquidity Event and the remaining thirty-four percent (34%) of the Escrowed Securities will be released 18 months following completion of the Liquidity Event.
Eagle Ridge and Strategic hereby agree to pay the Escrow Agent for its reasonable legal fees and disbursements, and hereby agree to release, indemnify and save harmless the Escrow Agent from all costs, charges, claims, demands, damages, losses and expenses resulting from administering this Voluntary Escrow Agreement in good faith and in accordance with this agreement.
Subject to and from completion of the early release of the Released Shares from voluntary escrow pursuant to clause 2, each party is bound by the Amended Voluntary Escrow Agreement to which it is a party.
Each party acknowledges that this deed is made in accordance with each Voluntary Escrow Agreement.
The Purchase Price Special Warrants issued to the Vendors, and the underlying common shares issuable upon conversion, shall be issued and held in escrow (the “Escrowed Securities”) in accordance with the terms and conditions of the Voluntary Escrow Agreement between the Vendors, the Corporation, the Purchaser and Heighington Law, to be dated and executed on the First Closing Date (the “Voluntary Escrow Agreement”).
A copy of the Voluntary Escrow Agreement is attached to this Agreement as Schedule “3”.