Definition of Tendered Cash

  1. Tendered Cash means, in respect of an Unpaid Claim, cash which the Sellers' Representative deposits with the Escrow Agent as Escrow Share Property and specifies in a notice given to the Escrow Agent and the Buyer on or before the date of such deposit that such cash is to be available for distribution to the Buyer at such time as the liquidation of Escrow Share Property in respect of such claim would otherwise be required pursuant to this Agreement; provided that the amount of such cash is at least equal to the amount of such Unpaid Claim.

Examples of Tendered Cash in a sentence

  1. To the extent the Sellers' Representative deliver to the Escrow Agent Tendered Cash pursuant to clause (ii)(2) above, the Escrow Agent shall use such Tendered Cash to satisfy the obligation of the Sellers' Representative pursuant to Section I.3(a), (b) or (c), as the case may be.

Definition of Tendered Cash in Escrow Agreement

Tendered Cash means, in respect of an Unpaid Claim, cash which the Sellers' Representative deposits with the Escrow Agent as Escrow Share Property and specifies in a notice given to the Escrow Agent and the Buyer on or before the date of such deposit that such cash is to be available for distribution to the Buyer at such time as the liquidation of Escrow Share Property in respect of such claim would otherwise be required pursuant to this Agreement; provided that the amount of such cash is at least equal to the amount of such Unpaid Claim.