Open Claim Amounts definition

Open Claim Amounts means the aggregate dollar amount of the Escrow Funds, if any, which is the subject of one or more pending Claim Notices made against such fund that were duly provided to the Escrow Agent and Sellers prior to the close of business on the Escrow Termination Date.
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Open Claim Amounts means the aggregate dollar amount of the Escrow Fund, if any, which is the subject of one or more pending claims by a Buyer Indemnified Party under the indemnification provisions the Merger Agreement.. This Agreement shall terminate when there are no funds remaining to be distributed hereunder.
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Open Claim Amounts shall have the meaning ascribed thereto in Section 6;
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Examples of Open Claim Amounts in a sentence

  • On the Escrow Termination Date (as defined below), the Escrow Agent shall distribute to Sellers the then-remaining balance (plus all accrued interest and other earnings thereon earned from the Closing Date to the date of such distribution), less any Open Claim Amounts (as defined below).

  • Any Open Claim Amounts shall be subject to this Escrow Agreement and shall be distributed in accordance herewith.

  • On the third Business Day after the Termination Date, Escrow Agent shall distribute to P▇▇▇▇▇▇, pursuant to written instructions of P▇▇▇▇▇▇, the then-remaining balance of the Escrow Amount (including any interest earned on such amount), if any, minus any Open Claim Amounts, if any, and interest earned on such Open Claim Amounts.

  • On April 20, 2015, Escrow Agent shall distribute to P▇▇▇▇▇▇, pursuant to written instructions of P▇▇▇▇▇▇, an amount equal to $75,000, minus any Open Claim Amounts, if any, as of such date.

  • On July 20, 2015, Escrow Agent shall distribute to P▇▇▇▇▇▇, pursuant to written instructions of P▇▇▇▇▇▇, an amount equal to an additional $75,000, minus any Open Claim Amounts, if any, as of such date (other than any Open Claim Amounts that were outstanding in the previous period and were therefore already deducted).

  • On October 20, 2015, Escrow Agent shall distribute to P▇▇▇▇▇▇, pursuant to written instructions of P▇▇▇▇▇▇, an amount equal to an additional $75,000, minus any Open Claim Amounts, if any, as of such date (other than any Open Claim Amounts that were outstanding in the previous periods and were therefore already deducted).


More Definitions of Open Claim Amounts

Open Claim Amounts shall have the meaning ascribed thereto in Section 6; (xv) “Parties” shall mean Sellers, the Tekelec Parties and the Escrow Agent; and “Party” shall mean any one of them; and (xvi) “Receiving Party” shall have the meaning ascribed thereto in Section 4(a). (xvii) “Resignation Date” shall have the meaning ascribed thereto in Section 8(a). The terms “Escrow Agent”, “Purchase Agreement”, “Purchaser”, “Sellers”, “Tekelec” and “Tekelec Parties” shall have the respective meanings contained in the appearance and recitals to this Agreement. (b)
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