Seller Representative Expense Amount definition

Seller Representative Expense Amount means $500,000.

Seller Representative Expense Amount means $5,000,000.

Seller Representative Expense Amount means $500,000, which shall be deposited at the Closing with the Seller Representative pursuant to the provisions of Section 15.6.

Examples of Seller Representative Expense Amount in a sentence

• The Sellers will not receive any interest or earnings on the Seller Representative Expense Amount and irrevocably transfer and assign to the Seller Representative any ownership right that they may otherwise have had in any such interest or earnings.

• The Seller Representative will not be liable for any loss of principal of the Seller Representative Expense Amount other than as a result of its gross negligence or willful misconduct.

• At the Closing, Buyer shall pay the Seller Representative Expense Amount to the Seller Representative by wire transfer of immediately available funds as provided in Section 1.04(c).

• For Tax purposes, the Seller Representative Expense Amount will be treated as having been received and voluntarily set aside by Xxxxxxx at the time of the Closing.

• As soon as practicable following the completion by the Seller Representative of its duties hereunder, the Seller Representative will deliver the unused portion of the Seller Representative Expense Amount (if any) to the Sellers.

• Without limiting the foregoing, the Seller Representative shall be entitled to deduct any such fees and expenses in excess of the then-remaining portion of the Seller Representative Expense Amount from any amounts payable to the Common Equityholders in accordance with the terms of this Agreement or the Escrow Agreement.

• The Seller Representative may be reimbursed or reimburse any third party for any Representative Expenses from the Seller Representative Expense Amount.

• Neither Buyer nor any Buyer Indemnified Party shall have any right, title or interest to the Seller Representative Expense Amount and shall not make any claims against the Seller Representative Expense Amount under this Agreement or otherwise.

• The Amending Parties acknowledge and agree that the fifth sentence of Section 11.20(h) of the Agreement shall be amended as follows: As soon as practicable following the ultimate release of the remaining amounts in the Indemnity Escrow Fund, the Seller Representative shall distribute the remaining portion of the Seller Representative Expense Amount (if any) to the Sellers in accordance with the percentages set forth on Schedule 6.24.

• For tax purposes, the Seller Representative Expense Amount will be treated as having been received and voluntarily set aside by the Sellers at the time of Closing.

More Definitions of Seller Representative Expense Amount

Seller Representative Expense Amount means $200,000. “Sellers’ Adjustment Statement” is defined in Section 1.5(b).

Seller Representative Expense Amount means $100,000.

Seller Representative Expense Amount means an amount equal to $5,000,000.

Seller Representative Expense Amount means cash in the amount of $1,000,000.

Seller Representative Expense Amount means $200,000.

Seller Representative Expense Amount means an amount equal to $250,000.