Indemnification Escrow definition

Indemnification Escrow has the meaning set forth in Section 3.1 of the Agreement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Indemnification Escrow means the Escrow Account opened for the purpose of holding the Microfield Common Stock held back pursuant to Section 2.7.

Indemnification Escrow has the meaning set forth in Section 2.04(d).

Examples of Indemnification Escrow in a sentence

• The Escrow Agent shall be entitled to rely on any such memorandum and distribute funds from the Indemnification Escrow in accordance with the terms thereof.

• In the event Buyer becomes aware of a Third-Party Claim or Damages which Buyer believes may result in a demand against the Indemnification Escrow or a claim for Damages pursuant to the indemnification provisions of Section 6.2 hereof, Buyer shall notify Seller of such claim.

• The Indemnifying Party shall have the right, at its option to assume the defense of any such Claim with its own counsel, reasonably satisfactory to the Indemnified Party, provided that Shareholders may not assume the defense of any Claim unless there are sufficient amounts in the Indemnification Escrow Amount to fully indemnify Purchaser Indemnified Parties against the amount of such Claim and all other pending Claims against the Escrow Amount.

• Such securities shall be considered Indemnification Escrow Shares for purposes hereof.

• Based on the latest annex to the Indemnification Escrow Agreement, dated as of April 5, 2013 (the “Escrow Agreement”), by and among ▇▇▇▇, the Company, the Bonus Executives and U.S. Bank National Association, as escrow agent (the “Escrow Agent”), a total of 4,284,489 shares of Company Common Stock (the “Escrow Share Deposit”) are currently on deposit with the Escrow Agent under the Escrow Agreement.

More Definitions of Indemnification Escrow

Indemnification Escrow shall have the meaning specified in Section 2.03(b).

Indemnification Escrow has the meaning set forth in SECTION 1.05(ii) hereof.

Indemnification Escrow means the escrow account in the amount of $20 million to address Reorganized ASARCO’s anticipated indemnification obligations arising under the Plan or separate order of the Bankruptcy Court, to be established pursuant to Article 11.8(b) of the Plan.

Indemnification Escrow means a dollar amount equal to the Indemnification Cap.

Indemnification Escrow means the portion of the Escrow Account designated for the Indemnification Escrow Amount to be held by the Escrow Agent in accordance with the terms of the Escrow Agreement.

Indemnification Escrow means $15,000,000.

Indemnification Escrow. Section 2.10(a)