Amount Claimed definition
Examples of Amount Claimed in a sentence
If and to the extent the Amount Approved and/or the Amount Claimed is not fully covered by the set-off and/or Available Escrow Amount, and further earnout payments become due, the same shall apply until the Amount Approved and/or the Amount Claimed are fully off-settable or covered by the Available Escrow Amount; any remaining amount shall immediately be paid to the Escrow Account Closing.
If the Stockholders’ Representative disagrees with the Amount Claimed, the Stockholders’ Representative may, on or prior to the last day of the Review Period, deliver a notice to Buyer (the “Claim Notice of Objection”) (with a copy to the Escrow Agent), which sets forth the Stockholders’ Representative’s objection to the Amount Claimed.
Buyer and the Stockholders’ Representative shall, during the 30 days following delivery of a Claim Notice of Objection (or any mutually agreed extension thereof), use their commercially reasonable efforts to reach agreement on the disputed items and amounts in order to agree upon the disputed Amount Claimed.
If the Stockholders’ Representative fails to deliver a Claim Notice of Objection within the Review Period, the Stockholders’ Representative and the Stockholders shall be deemed to have accepted the Claim and the Amount Claimed shall be final, conclusive and binding and the Escrow Agent shall be immediately directed by the Buyer and the Stockholders’ Representative to release to the Buyer the Amount Claimed.
If the Stockholders’ Representative delivers a Claim Notice of Objection to Buyer within the Claim Review Period, and such Claim Notice of Objection shows that only a portion of the Amount Claimed is disputed, then such undisputed portion of the Amount Claimed shall be deemed to have been accepted by the Stockholders and the Escrow Agent shall be immediately directed by the Buyer and the Stockholders to release to the Buyer the undisputed portion of the Amount Claimed.