PPP Escrow Agreement definition

PPP Escrow Agreement means an Escrow Agreement, dated as of or around the Closing Date, by and among the Company and the PPP Lender (as escrow agent), in form and substance acceptable to the PPP Lender.

PPP Escrow Agreement means an agreement by and among the Target Representative, the PPP Escrow Agent and Holdings in form and substance acceptable to the parties.

PPP Escrow Agreement has the meaning set forth in Section 2.1(d).

Examples of PPP Escrow Agreement in a sentence

• If the PPP Lender confirms in writing (for clarity, following review and approval by the Small Business Administration) that all or any portion of the Second PPP Loan has been forgiven, then, promptly after receipt of such confirmation, the PPP Lender shall release the funds held by it pursuant to the PPP Escrow Agreement to Seller.

• On the Seller Parties’ behalf, Buyer will pay and deliver to the PPP Lender the PPP Escrow Amount, to be held pursuant to the terms of the PPP Escrow Agreement.

• The Parent and Securityholders’ Representative shall negotiate in good faith to enter into the PPP Escrow Agreement, which shall provide that upon the CARES Determination Date, the Parent and Securityholders’ Representative shall deliver joint written instructions to the PPP Escrow Agent instructing the PPP Escrow Agent to release the PPP Escrow Amount in accordance with Section 2.13(b) herein.

• The parties hereto acknowledge and agree that it is anticipated that any portion of the PPP Escrow Amount that is not forgiven shall be retained by the PPP Lender pursuant to the terms of the PPP Escrow Agreement in satisfaction of the outstanding balance of the Second PPP Loan.

• At the Closing, the PPP Loan Escrow Amount shall be withheld from the Aggregate Merger Consideration and deposited into the escrow account designated by the PPP Lender pursuant to the PPP Escrow Agreement to pay for all or any portion of the PPP Loan that is not forgiven by the U.S. Small Business Administration following the Closing.

More Definitions of PPP Escrow Agreement

PPP Escrow Agreement has the meaning set forth in Section 2.3(a)(xii).

PPP Escrow Agreement means an escrow agreement by and between the Sellers and the PPP Escrow Agent, in form and substance reasonably satisfactory to the Buyer and in compliance with the applicable requirements of the U.S. Small Business Administration Procedural Notice, substantially in the form attached hereto as Exhibit G.

PPP Escrow Agreement subject to Section 2.5, means that certain escrow agreement substantially in the form attached hereto as Exhibit F for purposes of the PPP Escrow Amount, to be entered into at the Closing by and among Purchaser, Seller and PPP Escrow Agent.

PPP Escrow Agreement means that certain escrow agreement in a customary form reasonably acceptable to the Parent and the Company for purposes of the PPP Escrow Amount, to be entered into at the Closing by and between Parent, Securityholders’ Representative and PPP Escrow Agent.

PPP Escrow Agreement means an Escrow Agreement, in a form to be provided by the PPP Escrow Agent, by and among the Purchaser, the Sellers’ Representative, and the PPP Escrow Agent.

PPP Escrow Agreement means the Escrow Agreement to be entered into at the Closing by and among Link Staffing Services Corporation, a Delaware corporation, the PPP Lender and the PPP Escrow Agent, substantially in the form attached hereto as Exhibit E.

PPP Escrow Agreement means the agreement to be entered into by Company, and the PPP Lender at the Closing, substantially in the form of Exhibit H.