Common use of Payments of Post-Closing Adjustment Clause in Contracts

Payments of Post-Closing Adjustment. Except as otherwise provided herein, any payment of the Post-Closing Adjustment shall (A) be due (x) within five (5) Business Days of acceptance of the applicable Closing Working Capital Statement or (y) if there are Disputed Amounts, then within five (5) Business Days of the resolution described in clause (v) above; and (B) be paid by wire transfer of immediately available funds to such account as is directed by Buyer or the Sellers, as the case may be. Any payment of the Post-Closing Adjustment owed by the Sellers to Buyer first shall be paid by the Escrow Agent from the Escrow Amount pursuant to the terms of the Escrow Agreement and any amounts in excess by Sellers.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Red Lion Hotels CORP)

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Payments of Post-Closing Adjustment. Except as otherwise provided herein, any payment of the Post-Closing Adjustment Adjustment, together with interest calculated as set forth below, shall (A) be due (x) within five (5) Business Days of acceptance of the applicable Closing Working Capital Statement or (y) if there are Disputed Amounts, then within five (5) Business Days of the resolution described in clause (v) above; and (B) be paid by wire transfer of immediately available funds to such account account(s) as is are directed by Buyer or the Sellers, as the case may be. Any payment of the Post-Closing Adjustment owed by the Sellers to Buyer first shall be paid by the Escrow Agent from the Escrow Amount pursuant to the terms of the Escrow Agreement and any amounts in excess by SellersAgreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Diversified Restaurant Holdings, Inc.)

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Payments of Post-Closing Adjustment. Except as otherwise provided herein, any payment of the Post-Closing Adjustment shall (A) be due (x) within five (5) Business Days of acceptance of the applicable Closing Working Capital Statement or (y) if there are Disputed Amounts, then within five (5) Business Days of the resolution described in clause (v) above; and (B) be paid by wire transfer of immediately available funds to such account as is directed by Buyer or the SellersSeller, as the case may be. Any payment of the Post-Closing Adjustment owed by the Sellers Seller to Buyer first shall be paid by the Escrow Agent from the Escrow Amount pursuant to the terms of the Escrow Agreement and Agreement. The amount of any amounts Post-Closing Adjustment shall bear interest in excess by Sellersaccordance with Section 8.12(b) hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Addvantage Technologies Group Inc)

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