Common use of Deferred Payment Balance Clause in Contracts

Deferred Payment Balance. On the six month anniversary of the ------------------------ Closing Date, DoveBid shall pay the balance of the Deferred Payment, if any, to the Representative (for distribution by him to the Shareholders) provided that, if on such date, there is outstanding an unresolved Notice of Claim or Contested Claim (as defined in Article VIII hereof), an amount equal to the amount of Damages (as defined in Article VIII hereof), claimed in such Notice of Claim or Contested Claim shall be withheld from such payment to the Representative, pending resolution of the Notice of Claim or Contested Claim pursuant to the Article VIII hereof.