Net Initial Consideration definition
Examples of Net Initial Consideration in a sentence
If the Net Initial Consideration is a negative amount, the Reinsurer shall remit the absolute value of such amount to the Ceding Company within [REDACTED] Business Days of receipt of the report by the Reinsurer.
If the Net Initial Consideration is a positive amount, the Ceding Company shall remit such amount to the Reinsurer within [REDACTED] Business Days of submission of the report.
Within [REDACTED] Business Days of the Closing Date of this Agreement, the Ceding Company shall deliver a report to the Reinsurer setting forth the Initial Consideration, Initial Modified Coinsurance Adjustment, Initial Funds Withheld Adjustment and the Net Initial Consideration.
For each Ordinary Shareholder, the Lockup will expire as to fifty percent of such Ordinary Shareholder’s pro rata portion of the II-VI Shares comprising the Net Initial Consideration on the date that is six months after the Closing Date and will expire as to such Ordinary Shareholder’s remaining II-VI Shares comprising the Net Initial Consideration on the date that is twelve months after the Closing Date.
At the Closing, each holder of a certificate representing outstanding shares of ▇▇▇▇▇▇ Stock (the “Certificates”) shall surrender to II-VI the Certificates, duly endorsed in blank or in a form appropriate for transfer, in exchange for the Net Initial Consideration for each share of ▇▇▇▇▇▇ Stock.