Retention Escrow Account definition

Retention Escrow Account shall have the meaning set forth in Section 1E(i).

Retention Escrow Account has the meaning set forth in Section 2.10(b).

Retention Escrow Account means the account set up with the Escrow Agent (pursuant to the provisions of the Escrow Agreement) in which the Retention Escrow Amount is deposited.

Examples of Retention Escrow Account in a sentence

• On the Closing Date, Transferee agrees to deliver an amount equal to the estimated maximum amount of retention payments which would be due to employees under the Retention Plan, which amount shall be no more than $2,056,739 (the "Retention Fund") to the Retention Escrow Agent to be held in an interest bearing escrow account (the "Retention Escrow Account").

• The parties agree that in the event the Bonus Retention Escrow Amount earns any income while in the Bonus Retention Escrow Account, it shall belong to the Surviving Corporation and shall be treated for accounting and tax purposes as the income of the Surviving Corporation and not the Company or the Shareholders.

• The Seller and the Purchaser shall open the Retention Escrow Account on the basis that all funds paid into it will be held by Crédit Agricole Indosuez, Société Générale, BNP Paribas or another bank acceptable to the Purchaser (the “Bank”) on the terms of the Escrow Agreement in the agreed terms, as amended to reflect the terms of this Part C.

• If a Retention Employee is continuously employed by a Purchaser or its Affiliate from the Closing Date through the end of the Retention Period, the applicable Vendor shall be entitled to receive any remaining funds held in the Retention Escrow Account maintained for, or otherwise allocable to, such Retention Employee.

• The Bonus Retention Escrow Account shall be in existence just prior to the Effective Time and shall terminate at 5:00 p.m., Washington, D.C. time, on the fifth (5/th/) day following the Bonus Retention Escrow Termination Date.

More Definitions of Retention Escrow Account

Retention Escrow Account shall have the meaning ascribed to such term in Section 8.1 hereof.

Retention Escrow Account. Section 1.06(e)

Retention Escrow Account means the escrow account established, designated and maintained by the Escrow Agent pursuant to the terms of the Escrow Agreement and that is hereby agreed to be established by Xxxxx and Parent at the Closing solely for the purposes described in Section 5.7.

Retention Escrow Account is defined in Section 2.3(f).

Retention Escrow Account means the interest bearing deposit account to be operated in accordance with clause 7 and the Escrow Accounts Instruction Letter in the joint names of the Sellers’ Solicitors and the Buyer’s Solicitors at National Westminster Bank plc; Sale Shares means the issued shares in the capital of the Company (including the Treasury Share) as set out in Schedule 1 and which, on Completion, together with the Partly Paid Shares constitute the entire issued and to be issued share capital of the Company; Scheme Loan means any loan entered into between the Company and a Treasury Share Seller for the purpose of enabling the Treasury Share Seller to finance the Treasury Share Purchase Price;

Retention Escrow Account means a deposit account to be established and operated as further detailed in clause 6.4(b)(ii), Schedule 19 and the Retention Escrow Agreement;

Retention Escrow Account has the meaning ascribed to such term in Section 1.1(c).