Subsequent Release Sample Clauses

Subsequent Release. The Company’s obligations under Section 2 of this Agreement are strictly contingent upon Executive’s execution and non-revocation of a re-affirmation of the general waiver and release of all Claims against the Released Parties and the other covenants set forth in Section 5 of this Agreement (the “Subsequent Release”) within twenty-one (21) days following the Separation Date. The date of Executive’s execution of the Subsequent Release is referred to herein as the “Re-Execution Date.” By executing the Subsequent Release, Executive advances to the Re-Execution Date Executive’s general waiver and release of all Claims against the Released Parties and the other covenants set forth in Section 5 of this Agreement. Executive has seven (7) calendar days from the Re-Execution Date to revoke his re-execution of the Agreement. Such revocation must be in writing and must be e-mailed to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇. Notice of such revocation must be received within the seven (7) calendar days referenced above. In the event of such revocation by Executive, the date of the releases and covenants set forth in Section 5 of this Agreement shall not be advanced, but shall remain effective up to and including the date upon which Executive originally signs this Agreement. If the Subsequent Release does not become effective within thirty (30) days of the Separation Date, the Company shall not be required to provide any of the payments or benefits set forth in Section 2 of this Agreement.

Subsequent Release. Subject to Section 3 of this Escrow Agreement, on the date that is nine (9) months following the Closing Date (the "Subsequent Release Date"), all cash then held in Escrow, less the cash subject to any and all Claim Notices delivered to the Shareholder Representative prior to the Subsequent Release Date, shall be released from Escrow and delivered by the Escrow Agent to the Shareholders pursuant Section 5.2. The Initial Release Date and the Subsequent Release Date are hereinafter referred to collectively as the "Release Date." Any cash subject to any Claim Notices prior to the Subsequent Release Date shall be promptly distributed following satisfaction of any Claims specified therein to the extent of the excess of the cash actually used in satisfaction of such Claims.

Subsequent Release. Notwithstanding anything herein to the contrary, the Company’s payments described in Section 3(a) hereof shall be contingent on Employee’s execution of, and delivery to, the Company on or after March 16, 2009 and on or before March 20, 2009, the General Release attached hereto as Exhibit A and Employee not revoking such release within seven days of his delivery of such release. If Employee fails to timely execute and deliver the release or revokes the release, the Company shall not be obligated to make the payments described in Section 3(a) hereof.

Subsequent Release. Within forty (40) days after the end of the Collection Period, Buyer shall instruct the Escrow Agent in writing to release Escrow Funds in an amount equal to the lesser of (1) the Net Escrow Funds Available as of the last day of the Collection Period, determined after giving effect to any disbursements or required disbursements of Escrow Funds to Buyer on account of a Reduction in Net Current Assets and on account of any Receivable Shortfall, and (2) US$450,000 less the Receivable Shortfall, if any (the lesser of (1) and (2) is referred to herein as the "Subsequent Release Amount").

Subsequent Release. Upon the termination of Executive’s employment as Chairman or Vice-Chairman of the Company for any reason, including the expiration of the term of employment on the Employment Expiration Date, any payments or benefits to be paid or provided to Executive (or obligations of the Company to the Trust or Executive) under this Agreement are expressly conditioned on Executive’s prior execution and delivery of a general release and waiver in a form acceptable to the Company, the substance of which shall be substantially similar to the release and waiver set forth in Section 5.1 and Section 5.3, respectively except the term “Continuing Agreements” will not include the Second Closing Notes or the Pledge Agreements if the transactions contemplated by Section 2.2(C) and Section 2.2(D) have been consummated.

Subsequent Release. In further consideration of the Company's agreement to employ Zunk▇▇ ▇▇ the capacities described in this Agreement through August 31, 1998 and the Company's delivery of the Release Payment to Zunk▇▇ ▇▇▇er the terms of this Agreement, Zunk▇▇ ▇▇▇ees to execute and deliver to the Company a release dated August 31, 1998 substantially similar to the release described in Sections 5.2.1 and 5.3 of this Agreement.

Subsequent Release. All Escrowed Shares shall be issued within 15 days following the delivery of the final annual consolidated audit report for the first annual audit subsequent to 2009 in which CNC meets the Threshold Net Income Target for the year covered by the audit report, as set forth in Section 1.3; the distribution of the EPS Adjustment Shares shall be to Stockholders of record as of December 31 of the year of the qualifying audit report, and the issuance shall be in proportion to such Stockholders’ holdings of Sing Kung Stock on such record date. The value of shares distributable under Section 1.4(ii) shall also be available for indemnification pursuant to ARTICLE X to the extent not previously paid. In any subsequent release, if CC has not made an election to exchange its Sing Kung shares, then the shares distributed to CC shall be the applicable number of original CC shares deposited to the escrow and Stockholders shall receive the applicable number of CNC shares.” 4. A new Section 6.21 shall be added to the Purchase Agreement as follows: