Escrow Amount definition
Examples of Escrow Amount in a sentence
Upon receipt by the Transfer Agent of any portion of the Escrow Amount upon release in accordance with the terms of this Agreement and the Escrow Agreement, the Transfer Agent shall issue such shares of Parent Common Stock to the Stockholders that have delivered a Letter of Transmittal in accordance with Section 2.04(a) in an amount equal to each such Stockholder’s Pro Rata Share.
Simultaneously with the execution and delivery of this Agreement, Depositor will deliver the Escrow Amount to an account designated by Agent.
Instead, Depositor shall deliver, or cause to be delivered, such Escrow Amount to Agent, and Agent shall deposit and hold such property in a separate escrow account (the “Escrow Account”) in accordance with the terms hereof.
At the Closing, a portion of the Merger Consideration in the form of Depositor Common Stock otherwise payable to the Stockholders equal to the Escrow Amount, shall not be delivered to the Stockholders.
The Underlying Agreement provides that Depositor shall deposit on behalf of the stockholders of [the Company] (the “Stockholders”) the Escrow Amount (as defined below) in a segregated deposit account to be held by Agent for the purpose as described in Section 3(c) of this Agreement.