Examples of General Escrow in a sentence
The General Escrow Fund shall be disbursed in accordance with the General Escrow Agreement.
In addition, the General Escrow Fund shall be security for costs incurred by BUYER to complete Additional Remediation begun by SELLER, but which has not been timely completed by SELLER pursuant to Section 21, if SELLER has not met a Milestone in the Additional Remediation Schedule as a result of its failure to diligently pursue same.
The General Escrow Fund shall not be used for any purposes other than those set forth in Section 10.b.ii.
Except as modified by this Agreement, the terms of the General Escrow Instructions which both parties have agreed to electronically are adopted by the Parties and incorporated herein by this reference.
Upon the funding of such Security Deposit Fund by the assignee, LESSOR shall have no further rights or claims upon or with respect to the General Escrow Fund or General Escrow Agreement for matters related to the LEASE.
Any Company Options shall no longer be exercisable by the former holder thereof, but shall only entitle such holder to the payment of the applicable Option Payments in accordance with this Section 2.6(d), which for the avoidance of doubt includes the right to receive payments in connection with any Excess Payment or any release of funds from the General Escrow Account or the Equityholders’ Representative Escrow Account.
The General Escrow Amount shall be delivered to the Escrow Agent at or prior to the Effective Time to be held in escrow as security for the payment of any Shortfall Reduction under Section 2.7(e) and indemnification claims under Article IX pursuant to the provisions of the Escrow Agreement.
You agree that all disclosures and communications regarding this Agreement and the Service shall be made by e-mail or on the Site, unless the parties make other arrangements as set forth in the General Escrow Instructions.
The General Escrow Fund shall be held as security for: (w) any Environmental Claims that BUYER may have under this Agreement; (x) costs incurred by SELLER to perform Additional Remediation pursuant to Section 21; (y) payment of one hundred thirty percent (130%) of the Final Remediation Cost Estimate to BUYER pursuant to Section 21; and (z) satisfaction of all of SELLER’s obligations as provided under the Lease (without limiting BUYER’s other rights and remedies under this Agreement or the Lease).
The General Escrow Account shall be established pursuant to the Escrow Agreement to provide funds against which Buyer-Related Parties may assert claims of indemnification pursuant to ARTICLE VIII, and security for post-Closing adjustments relating to Working Capital, Closing Cash and Closing Debt.