Escrow Disbursement Date definition
Examples of Escrow Disbursement Date in a sentence
Escrow Agent will disburse the remainder of the GCI Escrow Cash not required to be retained pursuant to the preceding sentence to GCI on the Escrow Disbursement Date.
If, prior to the Escrow Disbursement Date, Escrow Agent receives a certificate signed on behalf of Seller (a "Seller's Claim Certificate") in the form of Exhibit B with completed information concerning the nature and amount of an indemnification claim by Seller under the Purchase Agreement ("Seller's Claim Amount"), Escrow Agent shall retain in the Escrow Fund that amount of GCI Escrow Cash as is equal to the certified Seller Claim Amount for disbursement ("Retained GCI Cash").
If, prior to the Escrow Disbursement Date, Escrow Agent receives a certificate signed on behalf of GCI (a "GCI Claim Certificate") in the form of Exhibit A with completed information concerning the nature and amount of an indemnification claim by GCI under the Purchase Agreement ("GCI Claim Amount"), Escrow Agent will retain in the Escrow Fund that amount of cash equal to the certified GCI Claim Amount for disbursement in accordance with Section 3(a)(i) or (ii) as applicable ("Retained Seller's Cash").
Escrow Agent will disburse the remainder of the Seller's Escrow Cash not required to be retained pursuant to the preceding sentence to Seller on the Escrow Disbursement Date.
Escrow Agent will disburse to each Seller such Seller's Deposited Escrow Shares on that date (the "Escrow Disbursement Date") which is one year and five days after the Closing Date.
Except as otherwise provided in this Section 4, the Escrow Agent will disburse the Escrow Shares to the Securityholders on September 30, 2000 (the "Escrow Disbursement Date") on a pro rata basis (based on the number of shares of CGC Common Stock held by each Securityholder immediately prior to the Effective Time relative to the total number of outstanding shares of CGC Common Stock immediately prior to the Effective Time).
Notwithstanding the foregoing, if on the Escrow Disbursement Date there are one or more pending Claims (as defined in the Escrow Agreement), which have not been the subject of a final resolution, then the Escrow Agent shall not disburse amounts from the Indemnity Escrow Amount that would deplete the cash value of the escrow account below the amount of the Losses so claimed, unless and until there has been final resolution of such matter pursuant to the Escrow Agreement.
Except as otherwise expressly provided herein, all such payments shall be made to the Agent, for the account of the respective Lenders to which such payment is owed, at the Agent’s Office in immediately available funds not later than 11:00 a.m. (Central time) on the date specified herein.
Escrow Agent will disburse the remainder of the GCI Escrow Notes that are not required to be retained pursuant to the preceding sentence to GCI on the Escrow Disbursement Date.
For purposes hereof, the term "Disputed Amount" shall mean the amount reasonably estimated in good faith by Buyer, and communicated (as provided in Section 11 of this Escrow Agreement and with explanation regarding how such estimated amount was calculated) to the Escrow Agent and Sellers prior to the Escrow Disbursement Date, that relates to unresolved claims for indemnification brought by Buyer pursuant to the terms of the Purchase Agreement.