U.S. Purchaser definition
Examples of U.S. Purchaser in a sentence
The US Purchaser shall be treated for U.S. federal income Tax purposes as the owner of all amounts deposited with the Escrow Agent prior to the release of such amounts and shall be entitled to a quarterly tax distribution from any interest or earnings paid on the Escrow Fund, subject to and in accordance with the Escrow Agreement.
Without limitation of the foregoing, in the event the Seller or any of its Affiliates receives any payment in respect of any Purchased Asset, the Seller shall promptly deliver such payment to an account designated in writing by the US Purchaser by wire transfer of immediately available funds.
If the Seller or the US Purchaser, as applicable, and the Indemnified Parties reach an agreement, a memorandum setting forth such agreement shall be prepared and signed by all applicable parties (any claims covered by such an agreement, “Settled Claims”).
By virtue of this Agreement and without any act of the Seller, at the Closing, the US Purchaser shall deposit with the Escrow Agent the Escrow Amount as security for the Net Working Capital Amount adjustment set forth in Section 1.10 and the indemnification obligations of the Seller provided for in Article V.
Prior to any such transfer in accordance with this Section 1.4(b), the Seller or its Affiliates receiving or possessing such asset or right shall hold such asset in trust for the US Purchaser.