Common use of Delivery into Escrow Clause in Contracts

Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (i) $270,000 divided by (ii) the Initial Offering Price shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount"). The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount falls below $270,000 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 hereof, the Seller shall contribute additional cash or shares of DocuNet Common Stock to the Escrow Amount in an amount necessary so that the amount of cash plus the Value of the shares of Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount would equal the Threshold Value.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Imagemax Inc), Agreement and Plan of Reorganization (Imagemax Inc)

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Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (a) $6,670 in cash and (b) (i) $270,000 26,680 divided by (ii) the Initial Public Offering Price shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount"), in the individual amount for each Seller as indicated on Schedule 2.4 attached hereto. The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller the Sellers under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) Price in the Escrow Amount falls below $270,000 33,350 (the "Threshold Value") due to payment from the Escrow Amount Account pursuant to Section 2.8 hereof, the Seller Sellers shall contribute additional cash or shares of DocuNet Common Stock to the Escrow Amount Account in an amount necessary so that the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount would equal the Threshold Value.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Imagemax Inc)

Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (i) $270,000 187,500, divided by (ii) the Initial Public Offering Price Price, shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount")) by the Seller. The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller and Shareholders under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount falls below $270,000 187,500 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 2.3 hereof, the Seller (or the Shareholders pursuant to Section 2.3(c)) shall contribute additional cash or shares of DocuNet Common Stock (valued at the Initial Public Offering Price) to the Escrow Amount in an amount necessary so that the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount would equal the Threshold Value.

Appears in 1 contract

Samples: Asset Purchase Agreement (Imagemax Inc)

Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (i) $270,000 160,000 divided by (ii) the Initial Public Offering Price Price, shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount"). The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount falls below $270,000 160,000 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 2.2 hereof, the Seller shall contribute additional cash or shares of DocuNet Common Stock to the Escrow Amount in an amount necessary so that the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount Account would equal the Threshold Value.

Appears in 1 contract

Samples: Stock Purchase Agreement (Imagemax Inc)

Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (i) $270,000 292,500 divided by (ii) the Initial Offering Price be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement by the Signatory Shareholders and $32,500 in cash shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement by Xxxxx Xxxxxxxx (together, the "Escrow Amount"), in the individual amount for each Seller as indicated on Schedule 2.9 attached hereto. The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller the Sellers under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount falls below $270,000 325,000 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 hereof, the Seller Sellers shall contribute additional cash or shares of DocuNet Common Stock to the Escrow Amount in an amount necessary so that the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount would equal the Threshold Value.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Imagemax Inc)

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Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock Stock, having a Value equal to (i) $270,000 divided by (ii) the Initial Offering Price 170,000 shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount"), by the Seller. The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller and Shareholders under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount Account falls below $270,000 170,000 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 2.3 hereof, the Seller or Shareholder shall contribute additional cash or shares of DocuNet Common Stock (valued at the Initial Public Offering Price) to the Escrow Amount Account in an amount necessary so that the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount Account would equal the Threshold Value.

Appears in 1 contract

Samples: Asset Purchase Agreement (Imagemax Inc)

Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (i) $270,000 150,000 divided by (ii) the Initial Public Offering Price Price, shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount"). The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount falls below $270,000 150,000 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 2.2 hereof, the Seller shall contribute additional cash or shares of DocuNet Common Stock (valued at the Initial Public Offering Price) to the Escrow Amount Account in an amount necessary so that the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount Account would equal the Threshold Value.

Appears in 1 contract

Samples: Stock Purchase Agreement (Imagemax Inc)

Delivery into Escrow. Notwithstanding the foregoing, a number of shares of DocuNet Common Stock equal to (i) $270,000 195,000 divided by (ii) the Initial Public Offering Price Price, shall be delivered at Closing to the Escrow Agent pursuant to the Escrow Agreement (the "Escrow Amount"), in the individual amount for each Seller as indicated on Schedule 2.4 attached hereto. The Escrow Amount shall be available to fund (but shall not be the sole source of funding) any obligations of Seller Sellers under this Agreement pursuant to the terms of the Escrow Agreement; provided, however, if the amount of cash plus the Value value of the shares of DocuNet Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount falls below $270,000 195,000 (the "Threshold Value") due to payment from the Escrow Amount pursuant to Section 2.8 hereof, the Seller Sellers shall contribute additional cash or shares of DocuNet Common Stock to the Escrow Amount in an amount necessary so that the amount of cash plus the Value value of the shares of Common Stock (valued at the Initial Public Offering Price) in the Escrow Amount would equal the Threshold Value.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Imagemax Inc)

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