Offset Escrow Amount definition
Offset Escrow Amount means an amount equal to $2,475,000.
Examples of Offset Escrow Amount in a sentence
The aggregate consideration (to be delivered in the manner described in Section 2.6(c) and subject to adjustment pursuant to Section 2.9) for the Purchased Assets to be purchased by Buyer hereunder shall be an aggregate amount equal to (a) the Final Closing Cash Payment, plus (b) the Offset Escrow Amount, plus (c) Deposit Escrow Amount (collectively, the “Purchase Price”), plus (d) the assumption of the Assumed Liabilities.
The Offset Escrow Amount shall be maintained in the Escrow Account by the Escrow Agent and administered and payable in accordance with this Agreement and the Escrow Agreement.
At Closing, Buyer shall deposit the Offset Escrow Amount with the Escrow Agent into the Escrow Account.