Third Release Date definition
Examples of Third Release Date in a sentence
The Aggregate Tax Holdback Amount (or the applicable portion thereof) will be retained by Heartland from the Closing Date until the First Release Date, the Second Release Date or the Third Release Date, as the case may be.
On or after the Third Release Date, upon receipt by Escrow Agent of a certificate signed by the Representative and an officer of McLe▇▇ ▇▇▇t the conditions of Section 1.5 have been meet, then Escrow Agent shall promptly release from the Escrow Account the shares of stock of McLe▇▇ ▇▇▇., referenced on Exhibit 2.3(c) from the Escrow Shares, the Stock Powers relating to those shares and any Distributions or Secondary Distributions with respect to those shares to the Holders named on Exhibit 2.3(c).
On the Third Release Date, the Escrow Agent shall (i) disburse Twenty Percent (20%) of the Escrow Property less any Cancelled Shares to the Recipients’ Representative, and (ii) disburse the amount of Escrow Property equal to the Cancelled Shares to Quepasa.
The amount payable pursuant to clause 2.11.4(C) shall be reduced by the aggregate of (i) an amount equal to such retained amount and (ii) an amount equal to the aggregate of all Settled Amounts paid out of the Escrow Account on or after the Second Release Date but before the Third Release Date and (iii) an amount equal to the amount by which the aggregate of all amounts paid out of the Escrow Account before the Second Release Date exceeded $1,000,000.
In the event that any shares of the Group B Stock are not released as a result of the failure for the condition to be satisfied with respect to any particular fiscal period, then such shares shall be released from the restrictions on sale set forth in this Section 2.6 on the date the Parent's audited financial statements for Fiscal Year 1999 are released ("Group B Third Release Date").