ICP First Payment definition
ICP First Payment means the aggregate amount of all payments owing to ICP Partners pursuant to the ICP Program as of the last day of the ICP First Escrow Period.
Examples of ICP First Payment in a sentence
Upon the expiration of the ICP First Escrow Period, the ICP First Payment shall be disbursed to the applicable ICP Partners.
If the ICP Escrow Amount is not sufficient to cover the ICP Closing Payments, the ICP First Payment, the ICP Second Payment, and any indemnification obligations of Seller with respect to Losses incurred by the Buyer Indemnitees in accordance with Section 6.02(f), Seller shall pay to Buyer (or its designee) an amount equal to such outstanding amount to such amount.
Following the ICP First Payment, any remaining balance of the ICP Escrow Amount minus the maximum ICP Second Payment and the remaining balance of the ICP Expense Fund to the extent not yet disbursed, shall be disbursed to Seller.