Release on Disbursement Date Clause Samples

Release on Disbursement Date. On the Disbursement Date, subject to Section 11.4, the Escrow Agent shall distribute to each Stockholder a number of shares corresponding to its Percentage Interest of the remaining balance of the Escrow Shares less (a) its Percentage Interest of the number of shares equal to the aggregate amount of any unresolved Indemnity Claims against the Escrow Shares of which the Escrow Agent has received written notice during the Claims Period and (b) its Percentage Interest of the number of shares equal to any unresolved Merger Adjustment Claim. Escrow Agent shall use commercially reasonable efforts to send to the Stockholders set forth in Annex A attached hereto their pro rata portion of the Escrow Shares in the number and to the addresses set forth in Annex A as promptly as practicable. Any remaining Escrow Shares held by the Escrow Agent after the Disbursement Date with respect to an unresolved Indemnity Claim or an unresolved Merger Adjustment Claim shall continue to be held and not released to any Party except pursuant to this Agreement or pursuant to a final non-appealable order of a court of competent jurisdiction.