Examples of Escrow Participant in a sentence
All interest or other income earned under the Escrow Agreement shall be allocated and paid as provided herein and reported by the recipient Escrow Participant to the Internal Revenue Service as having been so allocated and paid.
The cash comprising the Escrow Fund shall be deposited by Parent with respect to each Escrow Participant without any act by them, in accordance with their respective Pro Rata Portions of the Escrow Amount.
It is intended that for U.S. federal income tax purposes that while the Indemnification Escrow Shares are held by the Escrow Agent, the Escrow Participant shall be treated as the owner of the Indemnification Escrow Shares, and to the extent required by Applicable Law, the Escrow Agent shall report in a manner consistent with such treatment.
The Escrow Shares shall be released upon notice to the Escrow Agent by any Escrow Participant or the Company that the foregoing requirements have been met.
At the times provided for in Section 10.3(d), the Indemnification Escrow Shares shall be distributed to the Escrow Participant.