Settlement Escrow Amount definition

Settlement Escrow Amount means the amount determined by the Sellers and the Purchaser prior to the Closing that shall be sufficient to pay all financial obligations under the Settlement Agreement, including all payments to be made by the Sellers and the estimated costs of the Purchaser (or any Company or Subsidiary) in repairing, replacing, servicing or recalling any products under the Settlement Agreement.
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Settlement Escrow Amount means the aggregate of the Bond Amount, the NWC Adjustment Amount, the Sellers’ Indemnity Retention Amount and the US PPP Amount;
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Examples of Settlement Escrow Amount in a sentence

  • The payment of the Settlement Escrow Amount under Clause 3.1 is deemed to be made upon the receipt of the Settlement Escrow Amount in full by the Settlement Escrow Agent.

  • This Agreement shall be automatically terminated, without any formalities if the full amount of the Settlement Escrow Amount was not credited to the Settlement Escrow Account by 15 January 2021.

  • The Settlement Escrow Agent shall notify the Buyer, the Sellers’ Closing Representative and the Sellers’ Claims Representative by e-mail of its receipt of the Settlement Escrow Amount without undue delay after the Settlement Escrow Amount is credited in full to the Settlement Escrow Account.

  • This Agreement shall be automatically terminated, without any formalities if the full amount of the Settlement Escrow Amount has been released from the Settlement Escrow Account in accordance with this Agreement.

  • On the Closing Date or immediately following the Closing Date, the Principals shall procure that the Closing Escrow Agent transfers the Settlement Escrow Amount from the Closing Consideration Escrow Account into the Settlement Escrow Account.

  • The Principals wish to designate the Settlement Escrow Agent to act as an escrow agent and keep in escrow and then release from the escrow the Settlement Escrow Amount (as defined below) subject to the terms and conditions of this Agreement.

  • As used in this Agreement, "Escrow Fund" shall mean the Settlement Escrow Amount and the Employment Agreement Payment Escrow Amount, including all proceeds and income derived (directly or indirectly) from them.

  • The Escrow Agent hereby acknowledges receipt of the Settlement Escrow Amount and the Employment Agreement Payment Escrow Amount and agrees to hold, invest and disburse the Escrow Fund in accordance with the terms and conditions set forth herein.

  • All Earnings on the Settlement Escrow Amount and the Employment Agreement Payment Escrow Amount shall be held in trust by the Escrow Agent and disbursed only upon the termination of the Escrow Fund, in accordance with a Disbursement Notice from the Company and Dina.

  • Concurrently with the execution and delivery of this Escrow Agreement by the parties hereto, the Company is delivering to the Escrow Agent, the Settlement Escrow Amount and the Employment Agreement Payment Escrow Amount, each by wire transfer of immediately available funds.