Examples of Escrow Accounts in a sentence
For the avoidance of doubt, under no circumstances shall the Company and the Selling Shareholder be entitled to the receipt of or benefit of the amounts lying in the Escrow Accounts, the Public Offer Account or the Refund Account, except in accordance with provisions of Section 3.2.3 of this Agreement.
The Escrow Collection Bank, the Refund Bank and the Public Offer Account Bank shall not in any case whatsoever use any amounts held in the Escrow Accounts, the Public Offer Account and the Refund Account, respectively, to satisfy this indemnity in any manner whatsoever.
Such termination shall be effected by prior written notice of not less than fourteen (14) days, and shall come into effect only on the transfer of the amounts standing to the credit of the Escrow Accounts, the Public Offer Account or the Refund Account to the substituted escrow collection bank, the public offer account bank or refund bank.
The Servicer will pay (or cause the applicable Subservicer to pay) to the Borrowers interest on funds in Escrow Accounts to the extent required by Law or the applicable Asset Documents.
Except as otherwise directed by the Manager, the Servicer will (including through applicable Subservicers) establish and maintain one or more Escrow Accounts, each of which will be held in trust for the benefit of the Company for amounts deposited or required to be deposited therein by the applicable Borrower.