Indemnity Escrow Deposit definition

Indemnity Escrow Deposit has the meaning set forth in Section 1.7(b).

Indemnity Escrow Deposit means $17,500,000.

Indemnity Escrow Deposit shall have the meaning set forth in Section 1.02 hereof.

Examples of Indemnity Escrow Deposit in a sentence

• At the Closing, Buyer shall deliver to the Trust (for the benefit and account of Sellers) an amount equal to the Asset Value as reflected on the Estimated Closing Statement minus the sum of the Indebtedness Payoff Amount and the Indemnity Escrow Deposit (the “Acquisition Proceeds”).

• All interest and earnings on the Indemnity Escrow Deposit shall be distributed and paid from time to time to Sellers and shall, in no event, constitute part of the Indemnity Escrow Deposit.

• The Indemnity Escrow Deposit or any portion thereof that remains on deposit with the Escrow Agent as of the 12-month anniversary of the Closing Date shall be disbursed to Sellers in accordance with the Indemnity Escrow Agreement.

• Promptly following final and conclusive resolution of any such claims, the Escrow Agent shall pay to the Buyer Indemnified Parties any amounts due to the Buyer Indemnified Parties under the Piedmont Companies’ indemnity set forth herein and shall disburse the remainder of the Indemnity Escrow Deposit, if any, and any accrued interest to Sellers.

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More Definitions of Indemnity Escrow Deposit

Indemnity Escrow Deposit has the meaning given to such term in Section 1.3.

Indemnity Escrow Deposit means $30,175,000.

Indemnity Escrow Deposit means Three Hundred Eighty-Five Thousand Nine Hundred Seventy-Five Dollars ($385,975).

Indemnity Escrow Deposit is defined in Section 2.7(b).

Indemnity Escrow Deposit means One Million Two Hundred Fifty Thousand Dollars ($1,250,000).

Indemnity Escrow Deposit means the sum of Seven Hundred Fifty Thousand Dollars ($750,000). "Joint Written Direction" shall mean a written direction executed by a Parent Representative and a Stockholder Representative in accordance with Section 15 and directing Escrow Agent to disburse all or a portion of the Escrow Funds or to take or refrain from taking any other action pursuant to this Agreement. "Losses" shall have the meaning set forth in Section ll. 2 "Parent Representative" shall mean each person so designated on Schedule C hereto or any other person designated in a writing signed by Parent and delivered to Escrow Agent and the Stockholder Representative in accordance with the notice provisions of this Agreement, to act as its representative under this Agreement. "Representatives" shall mean the Parent Representative and the Stockholder Representative. "Stockholder Representative" shall mean each person so designated on Schedule C hereto or any other person designated in a writing signed by Stockholders and delivered to Escrow Agent and the Parent Representative in accordance with the notice provisions of this Agreement, to act as its representative under this Agreement. 2. Appointment of and Acceptance by Escrow Agent. Parent and Stockholders hereby appoint Escrow Agent to serve as escrow agent hereunder. Escrow Agent hereby accepts such appointment and, upon receipt by wire transfer of the Escrow Funds in accordance with Section 3, agrees to hold, invest and disburse the Escrow Funds in accordance with this Agreement. 3.

Indemnity Escrow Deposit means $500,000.