Common use of Dividends and Other Distributions in Respect of the Escrow Shares Clause in Contracts

Dividends and Other Distributions in Respect of the Escrow Shares. During the Escrow Period, all dividends payable in cash with respect to the Escrow Shares held in escrow at the time of the dividend shall be paid to the Initial Stockholders, but all dividends payable in stock or other non-cash property (“Non-Cash Dividends”) with respect to the Escrow Shares held in escrow at the time of the dividend shall be delivered to the Escrow Agent to hold in accordance with the terms hereof. As used herein, the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

Appears in 4 contracts

Samples: Stock Escrow Agreement (MedWorth Acquisition Corp.), Stock Escrow Agreement (MedWorth Acquisition Corp.), Stock Escrow Agreement (Hyde Park Acquisition Corp. II)

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