Release of Escrow Amount. Within five (5) business days immediately following the first consecutive six (6) month period after the Closing during which all installment payments of the Brand Amount have been timely delivered to Fantex when due (subject to applicable notice and cure periods contained herein), then the Escrow Agent shall deliver to Participant all amounts then remaining in the Escrow Account, the Escrow Agreement shall be terminated, and Participant shall thereafter have no obligation to maintain any amounts in the Escrow Account.
Release of Escrow Amount. As soon as reasonably practicable (but in any event within two (2) Business Days) following the expiration of the Indemnity Period, the Purchaser and the Sellers’ Representative shall cause the Escrow Agent to release to (i) the Purchaser an amount equal to thirty percent (30%) of any income earned on the investment of the Escrow Amount and (ii) to the Sellers (in accordance with their respective Pro Rata Portion) all of the remaining Indemnity Escrow Amount (if any) in excess of an amount (if any) calculated pursuant to the following sentence to satisfy all unresolved indemnity claims for Losses specified in any Claim Notice properly delivered to the Sellers’ Representative before the expiration of the Indemnity Period (if any). If any such indemnity claims are unresolved as of the expiration of the Indemnity Period, then a portion of the Indemnity Escrow Amount that equals the total amount of Losses then being reasonably claimed in good faith by the Purchaser Indemnified Persons in all such unresolved indemnity claims shall be retained in the Escrow Account, and as soon as reasonably practicable (but in any event within two (2) Business Days) following resolution of any such indemnity claim, Purchaser and the Sellers’ Representative shall cause the Escrow Agent to release to the Sellers (in accordance with their respective Pro Rata Portion), the remaining Indemnity Escrow Amount (if any) not required to satisfy any then still unresolved indemnity claims.
Release of Escrow Amount. After release of the Adjustment Shares to the Purchaser in accordance with Section 5.3 above, the Purchaser in its sole discretion, shall have the option to: (i) instruct the Escrow Agent to release the Escrow Amount to the Company, in which case the Purchaser will retain all of the Adjustment Shares, or (ii) have the Escrow Amount returned to Purchaser, at which case Purchaser shall relinquish Two Hundred Fifty Thousand Adjustment Shares back to the Company. In each such instance the Company hereby authorizes the Purchaser to direct the Escrow Agent immediately to release the Escrow Amount as directed by the Purchaser and the Company shall join in such direction, provided that the Escrow Agent may act solely on the direction of the Purchaser
Release of Escrow Amount. If on the date of closing of the Offerings (as more fully described in the Registration Statement) the Escrow Agent has received from the Company or Sandler a certificate stating that the Company has received subscriptions or purchase orders in the Offerings for at least 4,165,000 Shares and that the Offerings have closed, then the Escrow Agent is hereby authorized and instructed to:
Release of Escrow Amount. The Escrow Agent shall hold the Escrow Amount until it delivers the Escrow Amount as provided in this Section 4.
Release of Escrow Amount. (a) Upon receipt of a written notice by Xxxxxxxx, the Escrow Agent shall not pay or otherwise release the Escrow Funds except upon receipt of any of the following:
Release of Escrow Amount. The Escrow Amount shall be released in accordance with the terms, conditions and procedures set forth in the Escrow Agreement.
Release of Escrow Amount. On the day following the eighteen (18) month anniversary of the Closing Date (the “Escrow Release Date”), Buyer and Company Seller shall deliver joint written instructions to the Escrow Agent to release the amount then remaining in the Escrow Account (to the extent not utilized to pay Buyer for any indemnification claim) to the Company Seller provided, however, that the Escrow Agent shall be instructed to retain an amount in the Escrow Account (up to the total amount then held in the Escrow Account) equal to the amount of claims for indemnification under this Article 10 timely asserted pursuant to Section 10.2 prior to the Escrow Release Date but not yet resolved (“Unresolved Claims”). Upon resolution of an Unresolved Claim in accordance with this Article 10, Buyer and the Company Seller shall issue to Escrow Agent joint written instructions to release from the Escrow Account the portion of the Escrow Amount retained in respect of such Unresolved Claim to Company Seller, less the amount utilized to pay Buyer for such Unresolved Claim resolved in favor of Buyer.
Release of Escrow Amount. (a) Promptly following acceptance for purchase of all Securities tendered into the Offers (and not withdrawn), the Purchasers shall deliver to the Escrow Agent a certificate certifying the occurrence of such acceptance and specifying the number of Series A Shares and Series V Shares validly tendered into the Mexican Offer (including pursuant to Notices of Guaranteed Delivery) and accepted for payment and the number of Series A Shares, Series V Shares and ADSs validly tendered into the U.S. Offer (including pursuant to Notices of Guaranteed Delivery) and accepted for payment. On the Business Day immediately following the delivery to the Escrow Agent of the aforementioned certificate, the Escrow Agent shall transfer, assign, deliver and pay over:
Release of Escrow Amount. (a) Any portion of the Escrow Amount not previously released to, or permitted to be retained by, Acquiror as a result of an indemnification claim by Acquiror shall be released to the Series D Holders and Target Retention Bonus Plan Participants on the Release Date pursuant to the Escrow Agreement; provided, however, that a portion of the Indemnity Escrow Amount, which is reasonably necessary (as determined in accordance with Section 9.3) to satisfy any unsatisfied claims specified in any Officer’s Certificate (as defined in Section 9.3) theretofore delivered to the Stockholders’ Agent prior to the Escrow Termination Date with respect to facts and circumstances existing on or prior to the Escrow Termination Date, shall remain in the Indemnity Escrow Fund until such claims have been resolved.
