Hold Back is a portion of the purchase price that is placed in escrow to guarantee the validity of the accounts being acquired. The "hold back percentage" for this acquisition is 20% and shall be held by the closing agent. Disbursement of the hold back amount shall be calculated based on the total monthly revenue at closing minus the monthly revenue generated by the number of remaining accounts at 120 days after close of purchase. Said amount shall be multiplied times seven point 5 (7.5) and subtracted from the total "Gross Price including hold back" to determine the "actual hold back amount", which shall be disbursed to InReach within 135 days of close. The remainder, if any, shall be disbursed to the Seller within 135 days of close. In no event shall the purchase price be reduced by more than the "holdback" percentage. Buyer shall provide verification of remaining customer accounts on their billing system as of 120 days after close for sellers review.
Hold Back means an amount withheld under the terms of the contract to ensure the complete performance of the contract and to avoid overpayment in relation to progress of work;
Hold Back. The Contractor’s hold back will be the same as the Agreement for the original unit. Group Insurance: Contractors will be covered if they drive on a full-time basis. Drivers will be covered if they drive on a full-time basis. (One policy coverage per Truck) Insurance: Policy period will be for an ongoing renewable twelve (12) month period commencing the date the concept is implemented. The Contractor will be invoiced, on a fleet basis, a premium rate equal to the current percentage rate charged to his lowest unit provided his units are accident free for the past twelve (12) months. If any unit in the Contractor’s fleet is involved in a preventable accident, his fleet insurance premium rate will be immediately increased by 1% for the twelve (12) month period. His renewal period will commence at the increased rate. If the Contractor’s fleet is preventable accident free for the twelve (12) month policy period, his fleet insurance premium rate will be reduced by 0.5%. His renewal period will commence at the decreased rate. Worker’ Compensation: The Contractor will provide the Company with a certificate of clearance, and/or proof of payment of an account in good standing with the Worker’s Compensation Board. Endorsement: Endorsement of the attached by both Carrier and Contractor will form Schedule “D” of the Contractor’s Agreement.
Examples of Hold Back in a sentence
HOLD BACK: Sheridan College reserves the right to retain a hold-back of ten(10) percent of the total amount due on this contract for forty five (45) days past completion as security against a construction lien or other claims.
Invoices must be provided in PDF format and sent directly to Accounts Payable at; AP@Clarence-Rockland.com HOLD BACK: The City of Clarence-Rockland reserves the right to retain a hold- back of ten (10) percent of the total amount due on this contract for sixty (60) days past completion as security against a construction lien or other claims.
HOLD BACK FROM ANY MONIES DUE THE CONTRACTOR, THE REASONABLE VALUE OF THE REJECTED MATERIAL, REPLACEMENT PARTS, WORKMANSHIP, OR SERVICES, BASED UPON THE CONTRACT PRICE.
CONSTRUCTION LOAN HOLD BACK AND DISBURSEMENT ESCROW 23CHAPTER VI- ACCOUNT SERVICING 24E601.
HOLD BACK: The City of Clarence-Rockland reserves the right to retain a hold-back of ten (10) percent of the total amount due on this contract for forty five (45) days past completion as security against a construction lien or other claims.
More Definitions of Hold Back
Hold Back means $2,925,000, being 15% of $19,500,000;
Hold Back. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company's initial public offering, Grantee shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any option shares acquired under this Agreement without the prior written consent of the Company or its underwriters. The period of such restriction (the "Blackout Period") shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the Company or such underwriters. In no event, however, shall such period exceed 180 days. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company's outstanding shares of Common Stock without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any option shares subject to the Blackout Period, or into which such option shares thereby become convertible, shall immediately be subject to the restrictions set forth herein. In order to enforce such restriction, the Company may impose stop-transfer instructions with respect to the option shares acquired under this Agreement until the end of the applicable stand-off period. The Company's underwriters shall be beneficiaries of the agreement set forth in this subsection. This subsection shall not apply to option shares registered in the public offering under the Securities Act, and Grantee shall be subject to this subsection only if the directors and officers of the Company are subject to similar arrangements.
Hold Back shall have the meaning set out in Section 2.2.6.
Hold Back means the hold-back of the Hold-back Amount and the Hold-back Shares pursuant to Article 3 hereof;
Hold Back. Has the meaning set forth in SECTION 2.3(D) hereof.
Hold Back has the meaning set forth in Section 2.2(a).
Hold Back shall have the meaning ascribed to it in Section 3.1.3.