{"component": "clause", "props": {"groups": [{"snippet": "(a) The Securityholders\u2019 Agent shall be constituted and appointed as the exclusive agent and attorney-in-fact for and on behalf of the Effective Time Holders and shall have full power authority to represent, to give and receive notices and communications, to authorize the release of any portion of the Escrow Consideration to Acquiror in satisfaction of claims under this Agreement by Acquiror, to object to such releases, to agree to, negotiate, enter into settlements and compromises of, and demand arbitration and comply with orders of courts and awards of arbitrators with respect to such claims, to act on the Effective Time Holders\u2019 behalf with respect to the matters set forth herein, in accordance with the terms and provisions set forth herein, including giving and receiving all notices and communications to be given or received with respect to the matters set forth in this Section 9 and to take all actions necessary or appropriate in the judgment of the Securityholders\u2019 Agent for the interpretation of this Agreement and accomplishment of the foregoing. Notwithstanding the foregoing, the Securityholders\u2019 Agent shall have no obligation to act on behalf of the Effective Time Holders, except as expressly provided herein and in the Escrow Agreement and the Securityholders\u2019 Agent engagement agreement, and for purposes of clarity, there are no obligations of the Securityholders\u2019 Agent in any ancillary agreement, schedule, exhibit or the Target Disclosure Schedule. The Securityholders\u2019 Agent may resign at any time and such agency may be changed by the vote of Effective Time Holders representing a majority in interest of the Escrow Consideration from time to time upon not less than ten (10) days\u2019 prior written notice to Acquiror. No bond shall be required of the Securityholders\u2019 Agent. Notices or communications to or from the Securityholders\u2019 Agent shall constitute notice to or from each of the Effective Time Holders. The Securityholders\u2019 Agent shall be entitled to: (i) rely upon the Payment Schedule, (ii) rely upon any signature believed by it to be genuine, and (iii) reasonably assume that a signatory has proper authorization to sign on behalf of the applicable Effective Time Holder or other party. The powers, immunities and rights to indemnification granted to the Securityholders\u2019 Agent Group hereunder: (i) are coupled with an interest and shall be irrevocable and survive the death, incompetence, bankruptcy or liquidation of any Effective Time Holder and shall be binding on any successor thereto, and (ii) shall survive the delivery of an assignment by any Effective Time Holder of the whole or any fraction of his, her or its interest in the Escrow Consideration.\n(b) Certain Effective Time Holders have entered into an engagement agreement with the Securityholders\u2019 Agent to provide direction to the Securityholders\u2019 Agent in connection with its services under this Agreement, the Escrow Agreement and the Securityholders\u2019 Agent engagement agreement (such Effective Time Holders, including their individual representatives, collectively hereinafter referred to as the \u201cAdvisory Group\u201d). Neither the Securityholders\u2019 Agent nor its members, managers, directors, officers, contractors, agents and employees nor any member of the Advisory Group (collectively, the \u201cSecurityholders\u2019 Agent Group\u201d) shall be liable for any act done or omitted hereunder as Securityholders\u2019 Agent while acting in good faith and in the exercise of reasonable judgment and any act done or omitted pursuant to the advice of counsel shall be conclusive evidence of such good faith. The Effective Time Holders shall severally, in accordance with their Pro Rata Portion, indemnify, defend and hold the Securityholders\u2019 Agent Group harmless against any loss, liability, claim, damage, cost, fee, fine, judgment, amount paid in settlement or expense (including fees, disbursements and costs of counsel and other skilled professionals and in connection with seeking recovery from insurers) (collectively, the \u201cSecurityholders\u2019 Agent Expenses\u201d) incurred without gross negligence or bad faith on the part of the Securityholders\u2019 Agent and arising out of or in connection with the acceptance or administration of his duties hereunder. Such Securityholders\u2019 Agent Expenses may be recovered first, from the Expense Fund, second, from any distribution of the Escrow Consideration otherwise distributable to the Effective Time Holders at the time of distribution, and third, directly from the Effective Time Holders. The Effective Time Holders acknowledge that the Securityholders\u2019 Agent shall not be required to expend or risk its own funds or otherwise incur any financial liability in the exercise or performance of any of its powers, rights, duties or privileges or pursuant to this Agreement, the Escrow Agreement or the transactions contemplated hereby or thereby. Furthermore, the Securityholders\u2019 Agent shall not be required to take any action unless the Securityholders\u2019 Agent has been provided with funds, security or indemnities which, in its determination, are sufficient to protect the Securityholders\u2019 Agent against the costs, expenses and liabilities which may be incurred by the Securityholders\u2019 Agent in performing such actions. The immunities and rights to indemnification shall survive the resignation or removal of the Securityholders\u2019 Agent or any member of the Advisory Group and the Closing and/or any termination of this Agreement and the Escrow Agreement.\n(c) The Securityholders\u2019 Agent shall have reasonable access to information about Target and the Target Subsidiaries and the reasonable assistance of Target\u2019s and the Target\u2019s Subsidiaries\u2019 officers and employees for purposes of performing its duties and exercising its rights hereunder, provided that the Securityholders\u2019 Agent shall treat confidentially and not disclose any nonpublic information from or about Target or any Target Subsidiary to anyone (except on a need to know basis to individuals who agree to treat such information confidentially).\n(d) Upon the Closing, Acquiror shall wire to the Securityholders\u2019 Agent $1,000,000 (the \u201cExpense Fund Amount\u201d). The Expense Fund Amount shall be held by the Securityholders\u2019 Agent in a segregated client account and shall be used (i) for the purposes of paying directly or reimbursing the Securityholders\u2019 Agent for any Securityholders\u2019 Agent Expenses incurred pursuant to this Agreement, the Escrow Agreement or any Securityholders\u2019 Agent letter agreement, or (ii) as otherwise determined by the Advisory Group (the \u201cExpense Fund\u201d). The Securityholders\u2019 Agent is not providing any investment supervision, recommendations or advice and shall have no responsibility or liability for any loss of principal of the Expense Fund other than as a result of its gross negligence or willful misconduct. The Securityholders\u2019 Agent is not acting as a withholding agent or in any similar capacity in connection with the Expense Fund, and has no tax reporting or income distribution obligations. The Effective Time Holders will not receive any interest on the Expense Fund and assign to the Securityholders\u2019 Agent any such interest. Subject to Advisory Group approval, the Securityholders\u2019 Agent may contribute funds to the Expense Fund from any consideration otherwise distributable to the Effective Time Holders. As soon as reasonably determined by the Securityholders\u2019 Agent that the Expense Fund is no longer required to be withheld, the Securityholders\u2019 Agent shall distribute the remaining Expense Fund (if any) to the Payment Agent for further distribution to the Effective Time Holders.", "snippet_links": [{"key": "agent-shall", "type": "definition", "offset": [25, 36]}, {"key": "agent-and-attorney", "type": "clause", "offset": [83, 101]}, {"key": "for-and-on-behalf-of", "type": "clause", "offset": [110, 130]}, {"key": "effective-time-holders", "type": "definition", "offset": [135, 157]}, {"key": "authority-to", "type": "clause", "offset": [184, 196]}, {"key": "notices-and-communications", "type": "clause", "offset": [228, 254]}, {"key": "release-of", "type": "clause", "offset": [273, 283]}, {"key": "escrow-consideration", "type": "definition", "offset": [303, 323]}, {"key": "claims-under", "type": "clause", "offset": [355, 367]}, {"key": "by-acquiror", "type": "clause", "offset": [383, 394]}, {"key": "agree-to", "type": "clause", "offset": [427, 435]}, {"key": "settlements-and-compromises", "type": "clause", "offset": [459, 486]}, {"key": "comply-with", "type": "clause", "offset": [518, 529]}, {"key": "with-respect-to", "type": "clause", "offset": [573, 588]}, {"key": "in-accordance-with", "type": "definition", "offset": [693, 711]}, {"key": "the-terms-and-provisions", "type": "clause", "offset": [712, 736]}, {"key": "all-notices", "type": "clause", "offset": [786, 797]}, {"key": "section-9", "type": "definition", "offset": [887, 896]}, {"key": "actions-necessary", "type": "clause", "offset": [913, 930]}, {"key": "the-judgment", "type": "clause", "offset": [949, 961]}, {"key": "interpretation-of-this-agreement", "type": "clause", "offset": [1000, 1032]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1070, 1099]}, {"key": "no-obligation-to-act", "type": "clause", "offset": [1139, 1159]}, {"key": "except-as-expressly-provided", "type": "clause", "offset": [1201, 1229]}, {"key": "the-escrow-agreement", "type": "clause", "offset": [1244, 1264]}, {"key": "engagement-agreement", "type": "clause", "offset": [1296, 1316]}, {"key": "for-purposes-of", "type": "clause", "offset": [1322, 1337]}, {"key": "obligations-of-the", "type": "clause", "offset": [1360, 1378]}, {"key": "ancillary-agreement", "type": "definition", "offset": [1409, 1428]}, {"key": "target-disclosure-schedule", "type": "clause", "offset": [1455, 1481]}, {"key": "at-any-time", "type": "clause", "offset": [1521, 1532]}, {"key": "a-majority-in-interest", "type": "clause", "offset": [1615, 1637]}, {"key": "from-time-to-time", "type": "clause", "offset": [1666, 1683]}, {"key": "notice-to", "type": "clause", "offset": [1732, 1741]}, {"key": "no-bond", "type": "clause", "offset": [1752, 1759]}, {"key": "notices-or-communications", "type": "clause", "offset": [1809, 1834]}, {"key": "payment-schedule", "type": "clause", "offset": [2011, 2027]}, {"key": "sign-on", "type": "definition", "offset": [2161, 2168]}, {"key": "applicable-effective-time", "type": "definition", "offset": [2183, 2208]}, {"key": "other-party", "type": "clause", "offset": [2219, 2230]}, {"key": "granted-to", "type": "clause", "offset": [2285, 2295]}, {"key": "agent-group", "type": "definition", "offset": [2317, 2328]}, {"key": "coupled-with-an-interest", "type": "clause", "offset": [2348, 2372]}, {"key": "bankruptcy-or-liquidation", "type": "clause", "offset": [2435, 2460]}, {"key": "delivery-of", "type": "clause", "offset": [2564, 2575]}, {"key": "assignment-by", "type": "clause", "offset": [2579, 2592]}, {"key": "entered-into", "type": "clause", "offset": [2745, 2757]}, {"key": "to-provide", "type": "definition", "offset": [2814, 2824]}, {"key": "direction-to", "type": "clause", "offset": [2825, 2837]}, {"key": "in-connection-with", "type": "clause", "offset": [2865, 2883]}, {"key": "services-under-this-agreement", "type": "clause", "offset": [2888, 2917]}, {"key": "advisory-group", "type": "clause", "offset": [3111, 3125]}, {"key": "agents-and-employees", "type": "clause", "offset": [3225, 3245]}, {"key": "the-advisory", "type": "clause", "offset": [3264, 3276]}, {"key": "acting-in-good-faith", "type": "clause", "offset": [3420, 3440]}, {"key": "exercise-of", "type": "clause", "offset": [3452, 3463]}, {"key": "pursuant-to-the", "type": "definition", "offset": [3512, 3527]}, {"key": "advice-of-counsel", "type": "definition", "offset": [3528, 3545]}, {"key": "evidence-of", "type": "clause", "offset": [3566, 3577]}, {"key": "pro-rata-portion", "type": "definition", "offset": [3664, 3680]}, {"key": "any-loss", "type": "definition", "offset": [3759, 3767]}, {"key": "amount-paid", "type": "definition", "offset": [3822, 3833]}, {"key": "costs-of-counsel", "type": "clause", "offset": [3894, 3910]}, {"key": "agent-expenses", "type": "clause", "offset": [4035, 4049]}, {"key": "bad-faith", "type": "definition", "offset": [4089, 4098]}, {"key": "arising-out-of", "type": "definition", "offset": [4145, 4159]}, {"key": "the-acceptance", "type": "clause", "offset": [4182, 4196]}, {"key": "administration-of", "type": "clause", "offset": [4200, 4217]}, {"key": "distribution-of", "type": "clause", "offset": [4341, 4356]}, {"key": "time-of-distribution", "type": "definition", "offset": [4443, 4463]}, {"key": "own-funds", "type": "clause", "offset": [4633, 4642]}, {"key": "financial-liability", "type": "clause", "offset": [4666, 4685]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [4771, 4797]}, {"key": "contemplated-hereby-or-thereby", "type": "clause", "offset": [4840, 4870]}, {"key": "any-action", "type": "definition", "offset": [4942, 4952]}, {"key": "expenses-and-liabilities", "type": "clause", "offset": [5142, 5166]}, {"key": "removal-of", "type": "definition", "offset": [5325, 5335]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [5426, 5455]}, {"key": "access-to-information", "type": "clause", "offset": [5535, 5556]}, {"key": "target-subsidiaries", "type": "definition", "offset": [5578, 5597]}, {"key": "reasonable-assistance", "type": "clause", "offset": [5606, 5627]}, {"key": "officers-and-employees", "type": "clause", "offset": [5671, 5693]}, {"key": "rights-hereunder", "type": "clause", "offset": [5751, 5767]}, {"key": "provided-that", "type": "definition", "offset": [5769, 5782]}, {"key": "information-from", "type": "clause", "offset": [5868, 5884]}, {"key": "target-subsidiary", "type": "definition", "offset": [5908, 5925]}, {"key": "need-to-know-basis", "type": "definition", "offset": [5949, 5967]}, {"key": "to-individuals", "type": "clause", "offset": [5968, 5982]}, {"key": "such-information", "type": "definition", "offset": [6002, 6018]}, {"key": "upon-the-closing", "type": "clause", "offset": [6040, 6056]}, {"key": "wire-to", "type": "definition", "offset": [6073, 6080]}, {"key": "expense-fund-amount", "type": "definition", "offset": [6125, 6144]}, {"key": "segregated-client-account", "type": "clause", "offset": [6221, 6246]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [6269, 6288]}, {"key": "expenses-incurred", "type": "clause", "offset": [6378, 6395]}, {"key": "letter-agreement", "type": "clause", "offset": [6475, 6491]}, {"key": "liability-for", "type": "clause", "offset": [6703, 6716]}, {"key": "loss-of", "type": "definition", "offset": [6721, 6728]}, {"key": "principal-of", "type": "definition", "offset": [6729, 6741]}, {"key": "gross-negligence-or-willful-misconduct", "type": "clause", "offset": [6789, 6827]}, {"key": "withholding-agent", "type": "definition", "offset": [6875, 6892]}, {"key": "tax-reporting", "type": "clause", "offset": [6968, 6981]}, {"key": "distribution-obligations", "type": "clause", "offset": [6992, 7016]}, {"key": "interest-on-the", "type": "clause", "offset": [7066, 7081]}, {"key": "subject-to", "type": "definition", "offset": [7155, 7165]}, {"key": "distribute-the", "type": "clause", "offset": [7493, 7507]}, {"key": "payment-agent", "type": "definition", "offset": [7547, 7560]}, {"key": "further-distribution", "type": "clause", "offset": [7565, 7585]}], "size": 9, "samples": [{"hash": "aY0dOQYvGAj", "uri": "/contracts/aY0dOQYvGAj#securityholders-agent", "label": "Merger Agreement (INPHI Corp)", "score": 27.8336753845, "published": true}], "hash": "8c088f3542df3afa56eacc903d3c9ee5", "id": 1}, {"snippet": "(a) By virtue of the approval of the Merger and this Agreement by the Indemnifying Holders and without any further action of any of the Indemnifying Holders or the Company, at the Closing, Fortis Advisors LLC shall be constituted and appointed as the Securityholders\u2019 Agent. The Securityholders\u2019 Agent shall be the exclusive agent and attorney in fact for and on behalf of the Indemnifying Holders to: (i) execute, as the Securityholders\u2019 Agent, this Agreement and any agreement or instrument entered into or delivered in connection with the Transactions, (ii) give and receive notices, instructions and communications permitted or required under this Agreement, or any other agreement, document or instrument entered into or executed in connection herewith, for and on behalf of any Indemnifying Holder, to or from Acquirer (on behalf of itself or any other Indemnified Person) relating to this Agreement or any of the Transactions and any other matters contemplated by this Agreement or by such other agreement, document or instrument (except to the extent that this Agreement expressly contemplates that any such notice or communication shall be given or received by each Indemnifying Holder individually), (iii) review, negotiate and agree to and authorize Acquirer to reclaim an amount of cash from the Indemnity Escrow Fund in satisfaction of claims asserted by Acquirer (on behalf of itself or any other Indemnified Person, including by not objecting to such claims) pursuant to this Article VIII, (iv) object to such claims pursuant to Section 8.6, (v) consent or agree to, negotiate, enter into, or, if applicable, contest, prosecute or defend, settlements and compromises of, and demand arbitration and comply with Orders of courts and awards of arbitrators with respect to, such claims, resolve any such claims, take any actions in connection with the resolution of any dispute relating hereto or to the Transactions by arbitration, settlement or otherwise, and take or forego any or all actions permitted or required of any Indemnifying Holder or necessary in the judgment of the Securityholders\u2019 Agent for the accomplishment of the foregoing and all of the other terms, conditions and limitations of this Agreement, (vi) consult with legal counsel, independent public accountants and other experts selected by it, solely at the cost and expense of the Indemnifying Holders, (vii) consent or agree to any amendment to this Agreement or to waive any terms and conditions of this Agreement providing rights or benefits to the Indemnifying Holders (other than with respect to the payment of the Merger Consideration less the Indemnity Escrow Amount) in accordance with the terms hereof and in the manner provided herein, (viii) pursuant to Section 1.6, review, negotiate, object to, accept or agree to Acquirer\u2019s calculation of Company Net Working Capital, and (ix) take all actions necessary or appropriate in the judgment of the Securityholders\u2019 Agent for the accomplishment of the foregoing, in each case without having to seek or obtain the consent of any Person under any circumstance. Notwithstanding the foregoing, the Securityholders\u2019 Agent shall have no obligation to act on behalf of the Indemnifying Holders, except as expressly provided herein, in the Escrow Agreement and in the Securityholders\u2019 Agent Engagement Agreement, and for purposes of clarity, there are no obligations of the Securityholders\u2019 Agent in any ancillary agreement, schedule, exhibit or the Company Disclosure Letter. Acquirer, Merger Sub and their respective Affiliates (including after the Effective Time, the Surviving Corporation) shall be entitled to rely on the appointment of Fortis Advisors LLC as the Securityholders\u2019 Agent and treat such Securityholders\u2019 Agent as the duly appointed attorney-in-fact of each Indemnifying Holder and has the duties, power and authority provided for in this Section 8.7. The Indemnifying Holders, and such Indemnifying Holder\u2019s successors as if expressly confirmed and ratified in writing by such Indemnifying Holder, shall be bound by all actions taken and documents executed by the Securityholders\u2019 Agent in connection with this Article VIII, the Escrow Agreement or the Securityholders\u2019 Agent Engagement Agreement, and all defenses which may be available to any Indemnifying Holder to contest, negate or disaffirm the action of the Securityholders\u2019 Agent taken in good faith under this Agreement, the Escrow Agreement or the Securityholders\u2019 Agent Engagement Agreement are waived. Acquirer and other Indemnified Persons shall be entitled to rely exclusively on any action or decision of the Securityholders\u2019 Agent. The Person serving as the Securityholders\u2019 Agent may be removed or replaced from time to time, or if such Person resigns from its position as the Securityholders\u2019 Agent, then a successor may be appointed, by the holders of a majority in interest of the aggregate amount of cash then held in the Indemnity Escrow Fund (or, in the event that there is no cash then held in the Indemnity Escrow Fund by the Indemnifying Holders collectively having a Pro Rata Share greater than 50%) upon not less than 30 days\u2019 prior written notice to Acquirer. The immunities and rights to indemnification shall survive the resignation or removal of the Securityholders\u2019 Agent or any member of the Advisory Group and the Closing and/or any termination of this Agreement and the Escrow Agreement. No bond shall be required of the Securityholders\u2019 Agent.\n(b) Certain Indemnifying Holders have entered into an engagement agreement (the \u201cSecurityholders\u2019 Agent Engagement Agreement\u201d) with the Securityholders\u2019 Agent to provide direction to the Securityholders\u2019 Agent in connection with its services under this Agreement, the Escrow Agreement and the Securityholders\u2019 Agent Engagement Agreement (such Indemnifying Holders, including their individual representatives, collectively hereinafter referred to as the \u201cAdvisory Group\u201d). Neither the Securityholders\u2019 Agent nor its members, managers, directors, officers, contractors, agents and employees nor any member of the Advisory Group (collectively, the \u201cSecurityholders\u2019 Agent Group\u201d) shall be liable to any Indemnifying Holder for any act done or omitted hereunder, under the Escrow Agreement or under the Securityholders\u2019 Agent Engagement Agreement as the Securityholders\u2019 Agent while acting in good faith (and any act done or omitted pursuant to the advice of counsel shall be conclusive evidence of such good faith) and without gross negligence or willful misconduct. The Indemnifying Holders shall severally but not jointly indemnify the Securityholders\u2019 Agent Group and hold it harmless against any loss, Liability, claim, damage, fee, cost or expense (including fees, disbursements and costs of skilled professionals and in connection with seeking recovery from insurers), judgments, fines or amounts paid in settlement incurred without gross negligence, willful misconduct or bad faith on the part of the Securityholders\u2019 Agent and arising out of, resulting from or in connection with the acceptance or administration of its duties hereunder, under the Escrow Agreement or under the Securityholders\u2019 Agent Engagement Agreement including all reasonable out-of-pocket costs and expenses and legal fees and other legal costs reasonably incurred by the Securityholders\u2019 Agent (collectively, the \u201cSecurityholders\u2019 Agent Expenses\u201d). If not paid directly to the Securityholders\u2019 Agent by the Indemnifying Holders, such Securityholders\u2019 Agent Expenses may be recovered by the Securityholders\u2019 Agent first, from the Expense Fund, and second, from the portion of the Indemnity Escrow Fund otherwise distributable to the Indemnifying Holders (and not distributed or distributable to an Indemnified Person or subject to a pending indemnification claim of an Indemnified Person) on or after the Escrow Release Date pursuant to the terms hereof, at the time of distribution, and such recovery will be made from the Indemnifying Holders according to their respective Pro Rata Share of such Securityholders\u2019 Agent Expenses. The Indemnifying Holders acknowledge that the Securityholders\u2019 Agent shall not be required to expend or risk its own funds or otherwise incur any financial liability in the exercise or performance of any of its powers, rights, duties or privileges or pursuant to this Agreement, the Escrow Agreement or the transactions contemplated hereby or thereby. Furthermore, the Securityholders\u2019 Agent shall not be required to take any action unless the Securityholders\u2019 Agent has been provided with funds, security or indemnities which, in its determination, are sufficient to protect the Securityholders\u2019 Agent against the costs, expenses and liabilities which may be incurred by the Securityholders\u2019 Agent in performing such actions.\n(c) After the Closing, any notice or communication given or received by, and any decision, action, failure to act within a designated period of time, agreement, consent, settlement, resolution or instruction of, the Securityholders\u2019 Agent that is within the scope of the Securityholders\u2019 Agent\u2019s authority under Section 8.7(a) shall constitute a notice or communication to or by, or a decision, action, failure to act within a designated period of time, agreement, consent, settlement, resolution or instruction of all the Indemnifying Holders and their successors and shall be final, binding and conclusive upon each such Indemnifying Holder and its successors; and each Indemnified Person shall be entitled to rely exclusively upon any such notice, communication, decision, action, failure to act within a designated period of time, agreement, consent, settlement, resolution or instruction as being a notice or communication to or by, or a decision, action, failure to act within a designated period of time, agreement, consent, settlement, resolution or instruction of, each and every such Indemnifying Holder. Acquirer, Merger Sub, the Surviving Corporation and the Indemnified Persons are hereby relieved from any Liability to any Person for any acts done by them in accordance with such notice, communication, decision, action, failure to act within a designated period of time, agreement, consent, settlement, resolution or instruction of the Securityholders\u2019 Agent.\n(d) Acquirer will withhold each Indemnifying Holder\u2019s Pro Rata Share of $100,000 (the aggregate amount so withheld from all Indemnifying Holders, the \u201cExpense Fund Amount\u201d) from the portion of the Merger Consideration otherwise payable by Acquirer to such Indemnifying Holders pursuant to Section 1.3(a)(i), Section 1.3(a)(ii), Section 1.3(a)(iii)(A) and Section 1.3(a)(iv) and pay such amount at Closing to the Securityholders\u2019 Agent (the aggregate Expense Fund Amount held by the Securityholders\u2019 Agent at any given time, the \u201cExpense Fund\u201d). The Expense Fund Amount shall be available for use by the Securityholders\u2019 Agent in connection with the performance of the Securityholders\u2019 Agent\u2019s duties and obligations under this Agreement, the Securityholders\u2019 Agent Engagement Agreement and the Escrow Agreement, and the Securityholders\u2019 Agent shall pay any amounts remaining in the Expense Fund to Acquirer for distribution by Acquirer to the Indemnifying Holders in accordance with their respective Pro Rata Shares at such time as the Securityholders\u2019 Agent determines to be appropriate. The Securityholders\u2019 Agent is not providing any investment supervision, recommendations or advice and shall have no responsibility or liability for any loss of principal of the Expense Fund other than as a result of its gross negligence or willful misconduct. The Securityholders\u2019 Agent is not acting as a withholding agent or in any similar capacity in connection with the Expense Fund, and has no tax reporting or income distribution obligations. The Indemnifying Holders shall not receive interest or other earnings on the Expense Fund Amount. For tax purposes, the Expense Fund Amount shall be treated as having been received and voluntarily set aside by the applicable Indemnifying Holders following the Effective Time. For the avoidance of doubt, no Indemnifying Holders shall have any rights in or claims to the Expense Fund Amount.\n(e) The Securityholders\u2019 Agent shall be entitled to: (i) rely upon the Spreadsheet, (ii) rely upon any signature believed by it to be genuine, and (iii) reasonably assume that a signatory has proper authorization to sign on behalf of the applicable Indemnifying Holder or other party.\n(f) The powers, immunities and rights to indemnification granted to the Securityholders\u2019 Agent Group hereunder: (i) are coupled with an interest and shall be irrevocable and survive the death, incompetence, bankruptcy or liquidation of any Indemnifying Holder and shall be binding on any successor thereto, and (ii) shall survive the delivery of an assignment by any Indemnifying Holder of the whole or any fraction of his, her or its interest in the Indemnity Escrow Fund.", "snippet_links": [{"key": "approval-of-the-merger", "type": "clause", "offset": [21, 43]}, {"key": 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Representations and Warranties of Purchaser ......................................................................... 33 4.1 Standing ............................................................................................................................ 33 4.2 Authority and Due Execution ........................................................................................... 33 4.3", "snippet_links": [{"key": "no-other-representations-or-warranties", "type": "clause", "offset": [151, 189]}, {"key": "no-reliance", "type": "clause", "offset": [191, 202]}, {"key": "representations-and-warranties-of-purchaser", "type": "clause", "offset": [262, 305]}, {"key": "authority-and-due-execution", "type": "clause", "offset": [528, 555]}], "size": 1, "samples": [{"hash": "9umuw7ZZvS3", "uri": "/contracts/9umuw7ZZvS3#securityholders-agent", "label": "Share Purchase Agreement (Air T Inc)", "score": 35.4544832307, "published": true}], "hash": "6708669bbb95f71e05c154164f0c23c9", "id": 9}, {"snippet": "By virtue of their approval of the Merger and the Reorganization Agreement, the Shareholders shall have approved the indemnification and escrow terms set forth in the Reorganization Agreement and this Agreement and shall have agreed to irrevocably appoint _______________ as Securityholders' Agent, to give and receive notices and communications, to authorize delivery to Parent of Parent Common Stock, cash or other property from the Escrow Fund, to object to such deliveries, to agree to, negotiate, enter into settlements and compromises of, and demand dispute resolution pursuant to Section 3 of this", "snippet_links": [{"key": "approval-of-the-merger", "type": "clause", "offset": [19, 41]}, {"key": "reorganization-agreement", "type": "definition", "offset": [50, 74]}, {"key": "the-shareholders", "type": "clause", "offset": [76, 92]}, {"key": "escrow-terms", "type": "definition", "offset": [137, 149]}, {"key": "this-agreement", "type": "clause", "offset": [196, 210]}, {"key": "agreed-to", "type": "definition", "offset": [226, 235]}, {"key": "notices-and-communications", "type": "clause", "offset": [319, 345]}, {"key": "to-parent", "type": "definition", "offset": [369, 378]}, {"key": "parent-common-stock", "type": "clause", "offset": [382, 401]}, {"key": "other-property", "type": "clause", "offset": [411, 425]}, {"key": "the-escrow-fund", "type": "clause", "offset": [431, 446]}, {"key": "agree-to", "type": "clause", "offset": [481, 489]}, {"key": "settlements-and-compromises", "type": "clause", "offset": [513, 540]}, {"key": "dispute-resolution", "type": "clause", "offset": [556, 574]}, {"key": "pursuant-to-section-3", "type": "clause", "offset": [575, 596]}], "size": 1, "samples": [{"hash": "1s2D8dkJqAM", "uri": "/contracts/1s2D8dkJqAM#securityholders-agent", "label": "Merger Agreement (Softbank Holdings Inc Et Al)", "score": 18.0, "published": true}], "hash": "3b97c9ebaf2f03a9e7cf80a665d05cef", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih5zZWN1cml0eWhvbGRlcnMtYWdlbnQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"children": [["authority", "Authority"], ["replacement", "Replacement"], ["power-of-attorney", "Power of Attorney"], ["appointment", "Appointment"], ["expense-fund", "Expense Fund"]], "parents": [["miscellaneous-provisions", "Miscellaneous Provisions"], ["indemnification", "Indemnification"], ["escrow-fund-and-indemnification", "Escrow Fund and Indemnification"], ["registration", "REGISTRATION"], ["conditions-precedent-to-obligations-of-parent-and-merger-sub", "Conditions Precedent to Obligations of Parent and Merger Sub"]], "size": 41, "title": "Securityholders Agent", "id": "securityholders-agent", "related": [["stockholders-agent", "Stockholders\u2019 Agent", "Stockholders\u2019 Agent"], ["shareholders-agent", "Shareholders' Agent", "Shareholders' Agent"], ["securityholders-agreement", "Securityholders Agreement", "Securityholders Agreement"], ["securityholders-meetings", "Securityholders Meetings", "Securityholders Meetings"], ["shareholders-representative", "Shareholders\u2019 Representative", "Shareholders\u2019 Representative"]], "related_snippets": [], "updated": "2026-06-18T06:05:23+00:00", "also_ask": [], "drafting_tip": "", "explanation": "The Securityholders\u2019 Agent clause designates a representative to act on behalf of all securityholders in matters related to the agreement. This agent is typically empowered to make decisions, give consents, receive notices, and handle disputes or claims that may arise after the transaction closes. By centralizing authority in a single agent, the clause streamlines communication and decision-making, preventing delays and confusion that could result from requiring input from numerous individual securityholders."}, "json": true, "cursor": ""}}