Warranty Holdback definition

Warranty Holdback has the meaning set out in Section 43.1;

Warranty Holdback shall have the meaning set forth in Section 22.1 of this Agreement.

Warranty Holdback has the meaning set out in Section 45.1; “Warranty Period” has the meaning set out in Section 40.1;

Examples of Warranty Holdback in a sentence

• The Warranty Holdback shall be deposited in an interest bearing account reasonably acceptable to Seller and Purchaser, with interest inuring to the benefit of Seller.

• The Warranty Holdback Amount shall be withheld from the Purchase Price and deposited into an escrow account with the Title Company at Closing, to be held and released in accordance with this Section 10 and the escrow agreement attached hereto as Exhibit K (the “Warranty Escrow Agreement”).

• Purchaser shall pay the Excess Warranty Holdback Amount (to the extent such amount is a positive number) pursuant to the terms of the Contingent Consideration Note on the August 31, 2011 Installment Due Date.

• Such sum shall be held in escrow and disbursed in accordance with the terms of the Warranty Holdback Escrow Agreement, which shall provide that after term of the Seller Warranty has ended, fifty percent (50%) of the funds remaining in the Warranty Holdback will be disbursed to Seller and 50% will be disbursed to Purchaser.

• If Franchisor will not agree to waive its objections to the use of laminates on the millwork, Purchaser shall be responsible for any costs and expenses to take any corrective actions required by Franchisor regarding the laminates on the millwork; provided, however, that Purchaser shall be entitled to use up to One Hundred Thousand Dollars ($100,000) in funds from the Warranty Holdback to pay for such work.

• Within five (5) Business Days after any release from the Warranty Holdback Amount, Seller shall deposit funds with the Title Company in an amount equal to those released.

• For the avoidance of doubt, once all of the Warranty Holdback Amount has been released from the Holdback Account, the Warrantors shall continue to be liable for Relevant Claims subject only to the other provisions of this Schedule 5.

• Pursuant to the terms of the Warranty Holdback Escrow Agreement, Purchaser will have access to the Warranty Holdback funds in the event that Seller does not promptly complete repairs required under the Seller Warranty.

• If the Excess Warranty Holdback Amount is zero or a negative number, Purchaser shall have no obligation to pay the Sellers any portion of the Estimated Remaining Return Amount.

• Purchaser shall also have the right to withdraw funds from the Warranty Holdback in accordance with this Section 22.1.

More Definitions of Warranty Holdback

Warranty Holdback has the meaning as set out in Section H5.1 of the Design Build Agreement;

Warranty Holdback has the meaning set out in Schedule 8 [Payments];

Warranty Holdback shall have the meaning set forth in Section 2.2.