Holdback Escrow Amount definition

Holdback Escrow Amount means the sum of (a) the aggregate amounts withheld by the Debtors as of the Confirmation Date as a holdback on payment of Professional Claims pursuant to the Professional Fee Order and (b) twenty (20) percent of that portion of the unbilled fees of Professionals estimated pursuant to Article 2.3(b) of the Plan attributable to fees incurred as of the Confirmation Date; provided, however, that if a Professional does not provide an estimate pursuant to Article 2.3(b), the Debtors may estimate the unbilled fees of such Professional incurred as of the Confirmation Date, and the sum of provision (a) above and the total amount so estimated shall comprise the Holdback Escrow Amount.

Holdback Escrow Amount means the sum of (a) Holdback Amount and (b) 100% of the unbilled fees and expenses of Professionals estimated pursuant to Section 2.02(b) of the Plan attributable to fees incurred as of the Effective Date that are not the subject of any objection; provided, however, that if a Professional does not provide an estimate pursuant to Section 2.02(b), the Debtors may estimate the unbilled fees of such Professional incurred as of the Confirmation Date. The sum of provisions (a) and (b) above shall constitute the Holdback Escrow Amount.

Holdback Escrow Amount means $500,000.

Examples of Holdback Escrow Amount in a sentence

• The Holdback Escrow Amount will be deposited with the Escrow Agent in conjunction with the purchase of the Assets and in proportion to the Assets that are purchased.

• Except for the Holdback Escrow Amount and the Down Payment all payments owed by Purchasers to Sellers under this Agreement, including the Purchase <PAGE> 15 Price and the Purchase Price Interest, shall be paid by Purchasers in immediately available funds free of any charges, taxes or other deductions by wire transfer to Sellers' bank account, the details of which will be notified in writing by the Sellers to Purchasers at the latest five (5) Business Days prior to the Closing Date ("SELLERS' ACCOUNT").

• Argonaut has caused to be deposited with Escrow Agent into an escrow account which is hereby established (the "Escrow Account") the Holdback Escrow Amount and the Purchase Price Adjustment Amount, which shall be held by Escrow Agent in trust for the benefit of Argonaut and Queensway, and shall be released and disbursed by Escrow Agent only in accordance with the terms of this Agreement.

• At Closing, Buyer shall (a) deposit (by Wire Transfer) the Holdback Escrow Amount and the Purchase Price Adjustment Escrow Amount with the Escrow Agent pursuant to Section 2.2(c) and Section 2.2(d), respectively, and (b) pay to Broker (by Wire Transfer) the Broker Closing Payment Amount pursuant to Section 2.2(b).

• The Holdback Escrow Amount is Purchaser’s exclusive remedy for any indemnity claim.

More Definitions of Holdback Escrow Amount

Holdback Escrow Amount has the meaning specified in the CT Merger Agreement (as in effect on the Closing Date).

Holdback Escrow Amount means $4,600,000.

Holdback Escrow Amount means the amount equal to three percent (3%) of the portion of the Purchase Price of the Assets that are purchased at each Closing and which will be deposited with the Escrow Agent upon each separate closing before any of the Purchase Price allocable to the Assets is disbursed.

Holdback Escrow Amount means $25 million, which amount will be paid by the Purchaser to the Escrow Agent on the Closing Date and shall be held by the Escrow Agent pending the Sellers post-Closing delivery of financial statements to the Purchaser pursuant to the terms of Section 5.34(f).

Holdback Escrow Amount means the sum of (a) the aggregate amounts withheld by the Debtors as of the Confirmation Date as a holdback on payment of

Holdback Escrow Amount as defined in Section 2.9.

Holdback Escrow Amount means the sum of (a) Holdback Amount and (b) 100% of the unbilled fees and