Commencement of Duties. Upon receipt by the Escrow Agent of the shares of DGSE Common Stock provided in Section 1.2, (i) the Escrow Agent shall deliver a notice to DGSE and to the Stockholder Agent acknowledging such receipt, and (ii) the Escrow Agent shall hold any Escrow Cash (defined below) the Escrow Shares (defined below) and any proceeds of the foregoing in escrow pursuant to the terms of this Agreement. The Escrow Agent shall hold and safeguard the Escrow Account during the Escrow Period (defined below), shall treat such accounts as trust funds in accordance with the terms of this Agreement and not as the property of the Escrow Agent, DGSE, the Stockholders or the Stockholder Agent and shall hold and dispose of the cash and shares in the Escrow Account only in accordance with the terms set forth in this Agreement.
Commencement of Duties. Parent, concurrently with the execution and delivery of this Agreement and pursuant to Section 3.2 of the Merger Agreement, is transferring to the Depository Agent the Escrow Fund consisting entirely of the Escrowed Shares. Upon receipt of the Escrowed Shares by the Depository Agent, the duties and obligations of each of the parties to this Agreement will commence.
Commencement of Duties. The Employee shall commence his duties as an employee of the Employer on September 20, 1999.
Commencement of Duties. Operating Partnership, simultaneously with the execution and delivery of this Agreement, will transfer to the Escrow Agent by wire transfer the aggregate sum of [$ ] (the “Indemnification Escrow Fund”) from the cash proceeds otherwise payable or distributable to the Cash Transferor Parties under the Contribution Agreement. Upon receipt of the Indemnification Escrow Fund, the duties and obligations of each of the parties to this Agreement will commence.
Commencement of Duties. Parent, on the date hereof, in accordance with Section 3.01 of the Merger Agreement and simultaneously with the execution and delivery of this Agreement, shall deposit by wire transfer with the Escrow Agent the sum of Fifteen Million Dollars ($15,000,000) (such amount, as may be increased pursuant to Section 9.01(b)(i) of the Merger Agreement, being the “Deposit”). Upon the Escrow Agent’s initial receipt of funds pursuant to this Section, the duties and obligations of each of the parties to this Agreement will commence.
Commencement of Duties. FTDI, simultaneously with the execution and delivery of this Agreement, will transfer to the Escrow Agent the aggregate sum of $1.4 million ($1,400,000.00) (the "Escrowed Funds"). Upon receipt of the Escrowed Funds, the duties and obligations of each of the parties to this Agreement will commence. The parties shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Parties entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent.
Commencement of Duties. On or prior to the commencement of the offering of Shares pursuant to the Offering Document, the Company shall establish the Escrow Account which shall be entitled “Paragon Commercial Bank N.A. as Agent for Chanticleer Dividend Fund, Inc.—Escrow Account”, with the Escrow Agent. The Company will cause all Dealer Managers and Selected Dealers to instruct subscribers to make checks for subscriptions payable to the order of “Paragon Commercial Bank, N.A., as agent for Chanticleer Dividend Fund, Inc.” This Agreement shall be effective on the date on which the Offering Document becomes effective. The escrow period shall commence upon the effectiveness of this Agreement and shall continue until the earlier of (i) the date upon which the Escrow Agent receives confirmation from the Company and the Dealer Manager that the Company has raised an aggregate of at least $1.5 million of gross offering proceeds from persons who are not affiliated with the Company or the Advisor (the “Minimum Proceeds”), (ii) the Closing Date, or (iii) the termination of the Offering by the Company prior to the receipt of the Minimum Proceeds (the “Escrow Period”).
Commencement of Duties. On or prior to the commencement of the offering of Shares pursuant to the Offering Document, the Company shall establish the Escrow Account with the Escrow Agent. This Agreement shall be effective on the date on which the Escrow Agent shall receive funds from the Transfer Agent for deposit into the Escrow Account (the “Escrowed Funds”).
Commencement of Duties. Parent, simultaneously with the execution and delivery of this Agreement and pursuant to the terms and conditions of the Merger Agreement, shall transfer to the Depository Agent twenty percent (20%) of the aggregate cash consideration to which the Shareholders are entitled pursuant to Section 3.1(b) of the Merger Agreement (collectively, the "Escrow Cash") and twenty percent (20%) of the aggregate number of shares of Parent Common Stock to which the Shareholders are entitled pursuant to Section 3.1(b) of the Merger Agreement (collectively, the "Escrow Shares" and, together with the Escrow Cash, the "Escrow Consideration"). Upon receipt of the Escrow Consideration by the Depository Agent, the duties and obligations of each of the parties to this Agreement will commence.
Commencement of Duties. Upon receipt by the Escrow Agent of the shares of DGSE Common Stock provided in Section 1.2, (i) the Escrow Agent shall deliver a notice to DGSE and to the Stockholder Agent acknowledging such receipt, and (ii) the Escrow Agent shall hold any Escrow Cash (defined below), the Escrow Shares (defined below) and any proceeds of the foregoing (other than Escrow Share Dividends (defined below)) in escrow pursuant to the terms of this Agreement. The Escrow Agent shall hold and safeguard the Escrow Account during the Escrow Period (defined below), shall treat such accounts as trust funds in accordance with the terms of this Agreement and not as the property of the Escrow Agent, DGSE, the Stockholders or the Stockholder Agent and shall hold and dispose of the cash and shares in the Escrow Account only in accordance with the terms set forth in this Agreement.
