Definition of Post-Closing Funding Amount

  1. Post-Closing Funding Amount means the sum of $335,000 to be paid by the Purchasers to the Sellers at Closing in full satisfaction of any and all expenses related to up to five (5) employees of Sellers retained by Sellers after the Closing to oversee and perform the Sellers' administrative obligations under the Transition Services Agreement and wind down the Sellers' bankruptcy estates, including the salaries of such employees, the rental expense of office facilities for such employees and any other expenses related to the equipping, furnishing and maintenance of such office facilities; provided that (i) the Post-Closing Funding Amount shall be treated as a non-accountable expense allowance with respect to such employees and the services to be rendered by such employees under the Transition Services Agreement, (ii) Sellers shall not be obligated to account to Purchasers for the proportion of time such employees spend on transition services or other activities and (iii) Purchasers shall not be obligated to pay any other amounts with respect to such employees in connection with their performance of Sellers' obligations under the Transition Services Agreement.

Definition of Post-Closing Funding Amount in Amended and Restated Asset Purchase Agreement

Post-Closing Funding Amount means the sum of $335,000 to be paid by the Purchasers to the Sellers at Closing in full satisfaction of any and all expenses related to up to five (5) employees of Sellers retained by Sellers after the Closing to oversee and perform the Sellers' administrative obligations under the Transition Services Agreement and wind down the Sellers' bankruptcy estates, including the salaries of such employees, the rental expense of office facilities for such employees and any other expenses related to the equipping, furnishing and maintenance of such office facilities; provided that (i) the Post-Closing Funding Amount shall be treated as a non-accountable expense allowance with respect to such employees and the services to be rendered by such employees under the Transition Services Agreement, (ii) Sellers shall not be obligated to account to Purchasers for the proportion of time such employees spend on transition services or other activities and (iii) Purchasers shall not be obligated to pay any other amounts with respect to such employees in connection with their performance of Sellers' obligations under the Transition Services Agreement.