Working Capital Escrow Amount definition
Examples of Working Capital Escrow Amount in a sentence
In the event that the Working Capital Escrow Amount is less than the absolute value of the Actual Adjustment, then the instruction described in the preceding sentence shall include a joint written instruction to the Escrow Agent instructing the Escrow Agent to deliver to Parent OP from the Escrow Units then remaining in the Escrow Account) Escrow Units equal in value (valued at the Parent Closing Price) to the difference between the absolute value of the Actual Adjustment and Working Capital Escrow Amount.
The Working Capital Escrow Amount and the Shares Escrow Amount are being paid out of the Closing Purchase Price and are being paid to the Escrow Agent in lieu of being paid directly to Sellers.
In addition, in no event shall the Working Capital Escrow Amount and any interest and earnings earned thereon under this Agreement and the Escrow Agreement paid to the Company Stockholders exceed two million one hundred thousand dollars ($2,100,000).
At the Closing, the Purchaser shall pay (or cause to be paid) to the Seller, by wire transfer of immediately available funds to such account as specified in instructions delivered to the Purchaser by the Seller prior to the Closing, a cash amount equal to the Estimated Aggregate Purchase Price minus the sum of the Indemnity Escrow Amount and the Working Capital Escrow Amount (the “Closing Date Payment”).
In the event there is a Working Capital Underpayment after the Final Working Capital Statement has become final, the entire Working Capital Escrow Amount shall be released to the Sellers’ Representative and Purchaser shall within three (3) Business Days of such final determination pay to the Sellers’ Representative (as nominee for the account of Trust 1 and for the account of Trust 2) by wire transfer an amount equal to the Working Capital True-Up Payment.