Examples of Litigation Escrow in a sentence
Said amount shall be paid into the California Litigation Escrow and allocated among the California Utilities on a pro rata basis determined with reference to the total principal amount of the refund (including Deemed Distributions) allocated to each of the California Utilities in the Allocation Matrix for that period.
Notwithstanding the provisions of Section 11.15 of the Purchase Agreement, Shareholder hereby appoints Xxxxx Xxxxxxxxx as his Seller’s Representative solely for the purposes of (a) receiving and distributing funds under the Short-Term Note and (b) the duties and responsibilities of Seller’s Representative under the Pre-Closing Litigation Escrow, if any.
The Escrow Agent will be entitled to rely on any such memorandum and will distribute the cash as soon as practicable from the Litigation Escrow Fund in accordance with the terms thereof.
Said amount shall be paid into the California Litigation Escrow and allocated among the California Utilities on a pro rata basis determined with reference to the total principal amount of the refund (including Deemed Distributions) allocated to each of the California Utilities in the FERC Refund Allocation Matrix for that period.
All funds in the California Litigation Escrow shall be distributed in accordance with the terms of a separate agreement among the California Parties (the “Allocation Agreement”).
Upon such termination, Buyer shall be deemed to pay or otherwise forfeit the $2.5 Million contributed to the Litigation Escrow, which $2.5 Million shall in such case be treated as a signing payment to the Subject Companies for this Agreement and such related Agreements and the right of Buyer to hold the Subject Companies off the market during the period prior to the Closing.
Approves the cancellation of policy memoranda or conversion into the Departmental Directives Program.
In the event that neither the Representative Fund nor the Litigation Escrow Fund are available to reimburse the Representative for Litigation Representative Expenses, the Indemnifying Founders shall indemnify the Representative according to their Aggregate Litigation Funding Percentage for such expenses.
At the Closing, the Buyer and Shareholders shall enter into the Indemnification Escrow Agreement, pursuant to Section 9.8, shall enter into the Severance Escrow Agreement, pursuant to Section 7.19, and, to the extent the parties have not already done so, shall enter into the agreement establishing the Litigation Escrow with Buyer pursuant to Section 7.9, and Buyer shall make the deposits (to the extent not already done) into the escrows thereunder.
Said amount shall be paid into the California Litigation Escrow and allocated among the California Utilities pursuant to an allocation set forth in the Allocation Agreement.