Examples of Indemnity Escrowed Funds in a sentence
Promptly following the final determination in accordance with this Article XI of any claim for indemnification made by any Purchaser Group Member, upon request by Purchaser, Sellers shall execute and deliver a certificate requesting the Indemnity Escrow Agent to deliver by wire transfer to an account designated by Purchaser immediately available funds in the amount of such claim as finally determined in accordance with this Article XI (not to exceed the Indemnity Escrowed Funds).
If at any time after the Termination Date the amount of the Indemnity Escrowed Funds then held by the Indemnity Escrow Agent exceeds the sum of any amounts subject to the Outstanding Claims, ResCap and Purchaser shall execute and deliver a certificate requesting the Indemnity Escrow Agent to deliver such excess amount to Sellers by wire transfer to one or more accounts designated by ResCap.
Provide a written statement outlining the timeline of activities as well as a completion date for this project.
The right to receive distributions from the Indemnity Escrowed Funds shall be the sole and exclusive source for indemnification payments to the Buyer Indemnified Parties from Seller in respect of any claim under this A rticle I X for which a claim must be validly asserted prior to the earlier of the twelve (12)-month anniversary of the Closing or December 30, 2011.
If at any time after the Termination Date the amount of the Indemnity Escrowed Funds then held by the Indemnity Escrow Agent exceeds the sum of any amounts subject to the Outstanding Claims, the Vendors’ Representative and Stericycle shall execute and deliver a certificate requesting the Indemnity Escrow Agent to deliver such excess amount to Vendors by wire transfer to one or more accounts designated by the Vendors’ Representative.
There have been small shifts in enrolments and in 2014‐15 a change in funding for ESL resulted in a noticeable decrease in domestic student enrolments in the Faculty of Access and Continuing Education.
The portion of the Purchase Price consisting of the Indemnity Escrowed Funds shall not be treated as received by Seller, and shall not be included in the Purchase Price Allocation, except as and to the extent released to Seller pursuant to the Indemnity Escrow Agreement.
On the first anniversary of the Closing Date, the Escrow Agent shall release the Indemnity Escrowed Funds (to the extent not utilized to pay Purchaser for any indemnification claim) to Seller Representative, except that the Escrow Agent shall retain an amount equal to the amount of claims for indemnification under this Article XI asserted prior to such first anniversary but not yet resolved (“Unresolved Claims”).
The Indemnity Escrowed Funds retained for Unresolved Claims shall be released by the Escrow Agent (to the extent not utilized to pay Purchaser for any such claims resolved in favor of Purchaser) upon their resolution in accordance with this Article XI and the Indemnity Escrow Agreement.
If at any time after the Escrow Termination Date the entire balance remaining in the Indemnity Escrowed Funds exceeds the sum of any amounts subject to claims for indemnification made by any Buyer Indemnified Parties pursuant to this A rticle IX that have not been finally determined in accordance with this A rticle IX as of such time, the Escrow Agreement shall provide that the Indemnity Escrow Agent will deliver such excess to Seller by wire transfer to an account designated in writing by Seller.