Examples of Working Capital Escrow Amount in a sentence
In the event that the Working Capital Escrow Amount is less than the absolute value of the Actual Adjustment, then the instruction described in the preceding sentence shall include a joint written instruction to the Escrow Agent instructing the Escrow Agent to deliver to Parent OP from the Escrow Units then remaining in the Escrow Account) Escrow Units equal in value (valued at the Parent Closing Price) to the difference between the absolute value of the Actual Adjustment and Working Capital Escrow Amount.
The Shareholder Representative shall be authorized to make such distributions to the Sellers who sold Shares or Company Warrants in the Closing with respect to proceeds otherwise payable to the Minority Holders selling their Minority Shares or Minority Warrants in the Second Closing, to reflect the Sellers’ pro rata portion of the Escrow Amount and Working Capital Escrow Amount.
Upon the conclusive determination of the Certified Working Capital, pursuant to the Escrow Agreement, Buyer and Seller shall promptly (but in no event later than five (5) Business Days) following the date of such determination instruct the Escrow Agent to release the Working Capital Escrow Amount that was subject to the Working Capital Escrow Account (after giving effect to any deductions and/or payments to Buyer pursuant to the Escrow Agreement and Section 2.9(d)) pursuant to the Escrow Agreement.
If the Net Adjustment Amount is a negative number, such amount shall be paid to Buyer within five (5) Business Days, first by distribution from the Working Capital Escrow Amount and, in the event the Working Capital Escrow Amount is insufficient, any remaining amount by distribution from the Indemnity Escrow Amount.
The Working Capital Escrow Amount and the Shares Escrow Amount are being paid out of the Closing Purchase Price and are being paid to the Escrow Agent in lieu of being paid directly to Sellers.