Common use of Action by Buyer Clause in Contracts

Action by Buyer. Subject to the terms and conditions herein contained, on the Closing Date, Buyer shall deliver to the Selling Shareholders (in addition to the documents and instruments to be delivered by it pursuant to Sections 4 and 10 hereof), on account of the Purchase Price for the Company Shares plus or minus any adjustments thereto as provided in Section 2.2, (i) $20,848,192.82 adjusted pursuant to Sections 2.1, 2.2.5, 2.3.7, 3.4 and 4.15), by wire transfer of immediately available funds to the accounts designated by the Selling Shareholders, which consideration shall be paid pro rata in accordance with their share ownership of the Company; and (ii) $1,000,000 deposited into an interest bearing escrow account (the "Escrow Account") with ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ LLP (the "Escrow Agent") pursuant to the terms of the escrow agreement, substantially in the form attached hereto as Exhibit B (the "Escrow Agreement"), which consideration shall be held pending the determination of any adjustments to the Purchase Price as may be required pursuant to Section 2.2.3.