Definition of Withholding Tax Escrow Amount


Withholding Tax Escrow Amount means an amount equal to 25% of the amount (if any) by which the applicable Sellers' share of the Adjusted Purchase Price exceeds the Certificate Limit set forth in the Certificate (if any) provided by or on behalf of that Seller to Purchaser at or before Closing.
Sample 1

Examples of Withholding Tax Escrow Amount in a sentence

Escrow Agent will provide the applicable Seller with proof that the Withholding Tax Escrow Amount and the interest earned thereon while held by Escrow Agent have been disbursed by Escrow Agent in accordance with the provisions of this Section 2.5.
The Purchase Price means an amount equal to: (i) $500,000,000, minus (ii) $52,000,000 (the Escrow Amount), minus (iii) the PRC Withholding Tax Escrow Amount (as defined below), minus (iv) the Affiliate Payments Amount, minus (v) $500,000 (the Seller HK Stamp Duty Withheld Amount), minus (vi) $3,904,526.84 (the Options Payment Amount).
The Canadian Withholding Tax Escrow Agent will provide Sellers with proof that the Canadian Withholding Tax Escrow Amount and the interest earned thereon while held by the Canadian Withholding Tax Escrow Agent have been disbursed by the Canadian Withholding Tax Escrow Agent in accordance with the provisions of this Section 2.7.
Concurrently with the payments pursuant to Sections 2.7.4 or 2.7.5, if applicable, the Canadian Withholding Tax Escrow Agent will pay to Sellers the interest earned on the Canadian Withholding Tax Escrow Amount while on deposit with the Canadian Withholding Tax Escrow Agent to the date of that payment (less any Tax required to be withheld and remitted).
Concurrently with the payments pursuant to Sections 2.5(f) or 2.5(g), if applicable, Escrow Agent will pay to the applicable Seller the interest earned on the Withholding Tax Escrow Amount while on deposit with Escrow Agent to the date of that payment (less any applicable withholding Tax).