the Working Capital Escrow Account definition

the Working Capital Escrow Account the interest bearing deposit account opended for this purpose in the joint names of the Vendors’ Solicitors and the Purchaser’s Solicitors at the Royal Bank of Scotland; and the Working Capital Target: the sum of £500,000.
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Examples of the Working Capital Escrow Account in a sentence

  • On the Closing Date, Ten Million Dollars ($10,000,000) of the Merger Consideration (the “Working Capital Escrow Amount”) shall be deposited by Buyer into the Working Capital Escrow Account and will be released along with any other property in the Working Capital Escrow Account in accordance with the Working Capital Escrow Agreement.

  • If any Working Capital Escrowed Cash (or interest thereon) remains in the Working Capital Escrow Account on the date that such Working Capital Adjustment is resolved and there is no Working Capital Adjustment payable to Buyer, the Parties shall execute and deliver to the Working Capital Escrow Agent joint written instructions promptly to deliver all such amounts by wire transfer of immediately available funds to Seller.

  • To the extent such difference in the Estimated Closing Balance Sheet from the Final Closing Balance Sheet exceeds the Working Capital Escrowed Funds held in the Working Capital Escrow Account, the Stockholders’ Representative shall deliver such excess amounts to Parent on behalf of the Stockholders.

  • At the Effective Time, the Merger Consideration shall represent the amount payable by Buyer to fund, in the aggregate: (A) the Working Capital Escrow Account pursuant to this Section 1.7(a), (B) the aggregate Per Share Stock Consideration payable by Buyer to the Stockholders pursuant to Section 1.7(b) and Section 1.13 and (C) the Hill Gross-Up Payment payable by Buyer to Hill pursuant to Section 1.7(c).

  • Purchaser shall deposit (A) the Indemnity Escrow Amount in the Indemnity Escrow Account in accordance with Section 2.04(a), and (B) the Working Capital Escrow Amount in the Working Capital Escrow Account in accordance with Section 2.04(b).

  • In addition, as of the time of such payment, all Working Capital Escrowed Funds and any other property held in the Working Capital Escrow Account shall be distributed to the Stockholders’ Representative (for distribution to the Stockholders).

  • The amount payable to Purchaser after the Closing pursuant to this Section 2.3 shall be limited solely to the available funds in the Working Capital Escrow Account and, if applicable, the Indemnity Escrow Account.

  • Within fifteen (15) calendar days after the Final Closing Balance Sheet is deemed final, (i) in the case of Section 3.03(b)(i), the Parent shall pay to Stockholders’ Representative the requisite dollar amount, if any, required pursuant to Section 3.03(b) and (ii) in the case of Section 3.03(b)(ii), the requisite dollar amount shall be delivered to Parent from the Working Capital Escrow Account or the Stockholders’ Representative, as required by Section 3.03(b)(ii).

  • To the extent such difference in the Estimated Closing Balance Sheet from the Final Closing Balance Sheet is less than the Working Capital Escrowed Funds held in the Working Capital Escrow Account, after payment of the difference to Parent, the remaining funds held in the Working Capital Escrow Account shall be distributed to the Stockholders’ Representative (for distribution to the Stockholders).

  • The proceeds of the Tranche B-2 Term Loans made on the Closing Date shall be applied by Borrower on the Closing Date to fund the Working Capital Escrow Account in an aggregate principal amount of $90,000,000 to provide for the general corporate and working capital purposes of Borrower and its Subsidiaries in accordance with Section 3.2 (and to repay the Tranche B-2 Term Loans on the Maturity Date as described in Section 2.26).

Related to the Working Capital Escrow Account

  • Working Capital Escrow Amount means $2,000,000.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Indemnity Escrow Account means the indemnity escrow account established by the Escrow Agent pursuant to the Escrow Agreement.

  • Working Capital Reserve means a cash reserve held in the Operating Account that is readily available to Manager during the Term to finance the services, repairs and maintenance described in Section 5.2 including Minor Capital Expenditures and Major Capital Expenditures, insurance premiums for the Property described in Section 9.1, and utilities for the Property, in such amounts as determined by the Owner in its sole discretion.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).