Shareholder Representative Expense Fund definition

Shareholder Representative Expense Fund has the meaning set forth in Section 2.11(b).

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Shareholder Representative Expense Fund means an amount in cash equal to $300,000.

Shareholder Representative Expense Fund means a fund totaling One Million dollars ($1,000,000) that shall be maintained as a separate account in the Escrow, which shall be established on the Closing Date.

Examples of Shareholder Representative Expense Fund in a sentence

Any such fees and expenses payable by Shareholder Representative shall be paid from the Shareholder Representative Expense Fund to the extent funds are available therein.
As soon as practicable after the date on which the final obligation of Shareholder Representative under this Agreement, the Escrow Agreement and the Exchange Agent Agreement has been discharged or such other date as Shareholder Representative deems appropriate, the Escrow Agent shall deliver any cash remaining in the Shareholder Representative Expense Fund to the Shareholders in accordance with their Pro Rata Shares, as set forth in the Escrow Agreement.
The Representative Losses shall be satisfied: (i) from the Shareholder Representative Expense Fund to the extent funds are available therein; and (ii) to the extent the amount of the Representative Losses exceeds amounts available to Shareholder Representative under (i), from the Shareholders, severally and not jointly (in accordance with their Pro Rata Shares).

More Definitions of Shareholder Representative Expense Fund

Shareholder Representative Expense Fund means an amount equal to $500,000, to be held by the Shareholder Representative Escrow Agent, which shall be used to pay for costs and expenses incurred by Shareholder Representative on behalf of the Company Shareholders pursuant to Section 8.12 or otherwise.

Shareholder Representative Expense Fund shall have the meaning given such term in Section 3.5(a).

Shareholder Representative Expense Fund means the Shareholder Representative Expense Amount, including any interest or other amounts earned thereon, and less any disbursements therefrom, to be held for the purpose of funding any expenses of Shareholder Representative arising in connection with the administration of Shareholder Representative’s duties in this Agreement after the Effective Time.

Shareholder Representative Expense Fund means a fund to be established with the Escrow Agent, which shall not be part of the Indemnity Escrow Fund, to be used to reimburse the Shareholder Representative for expenses incurred by the Shareholder Representative in performing its duties hereunder (including legal fees and expenses related thereto).