Examples of Indemnification Escrow Account in a sentence
Amounts to be paid to Parent Indemnified Parties shall be paid solely from the Indemnification Escrow Account pursuant to the Indemnification Escrow Agreement and the terms hereof.
At Closing, Seller shall fund an Indemnification Escrow Account from the Purchase Price proceeds, in the amount of seven hundred fifty thousand dollars ($750,000.00) (the “Indemnification Escrow Amount”) to be held by the Escrow Agent pursuant to the Indemnification Escrow Agreement to secure Seller’s indemnification obligations for the Survival Period, subject to the limitations of Section 8.1 and this Article 8.
For the avoidance of doubt, neither the Sole Stockholder nor its members, owners, offices, employees or Affiliates, shall have any obligation to transfer or contribute any amounts (whether in cash, Subordinate Voting Shares, Multiple Voting Shares or any other item of value) to the Indemnification Escrow Account for any reason.
In the event that the Subordinate Voting Shares available in the Adjustment Escrow Account are less than the required number of shares to satisfy the Merger Consideration Deficit, then such shortfall amount shall be deducted from the Indemnification Escrow Account and delivered to Parent.
All recoverable Losses shall be first applied to the Indemnification Escrow Account.