Common use of Administration Fee Clause in Contracts

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.

Appears in 4 contracts

Sources: Escrow Agreement (Tattooed Chef, Inc.), Escrow Agreement (Tattooed Chef, Inc.), Merger Agreement (Forum Merger II Corp)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing transaction deposit account, FDIC insured to the applicable limits.

Appears in 2 contracts

Sources: Escrow Agreement (Jaguar Animal Health, Inc.), Purchase and Sale Agreement (Talen Energy Supply, LLC)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Agreement. Fee is based on the amount of the Escrow Amount Fund being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Escrow Agreement (Turnstone Biologics Corp.)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow accountaccounts, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount Amounts being deposited in a non-interest bearing deposit accountaccount with a duration of at least a year, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Escrow Agreement (Genetic Technologies LTD)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow accountEscrow Account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing transaction deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Stock Purchase Agreement (Penn National Gaming Inc)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account Accounts including safekeeping of assets in the escrow accountEscrow Accounts, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Asset and Securities Purchase Agreement (CSS Industries Inc)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account Accounts including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow AgentEscrow’s records, follow-up of the Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Agreement. Fee is based on Escrow Amount being deposited invested in a non-an interest bearing deposit accountobligation of Citibank, N.A., FDIC insured to the applicable limits.. Fee: WAIVED

Appears in 1 contract

Sources: Securities Purchase Agreement (Perimeter Solutions, Inc.)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Agreement. Fee is based on Escrow Amount being deposited held in a non-an interest bearing deposit accountobligation of Citibank, N.A., FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Purchase Price Guarantee

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Merger Agreement (Tilray, Inc.)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Escrow Agreement (Siebert Financial Corp)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing transaction deposit accountaccount with a duration of at least a year, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Interest Purchase Agreement (Chegg, Inc)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow accountEscrow Account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.:

Appears in 1 contract

Sources: Escrow Agreement (Kaleyra, Inc.)

Administration Fee. The annual administration fee covers maintenance of the Escrow Account including safekeeping of assets in the escrow account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the this Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the this Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing transaction deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Escrow Agreement (RMG Networks Holding Corp)

Administration Fee. Waived The annual administration fee covers maintenance of the Adjustment Escrow Account including safekeeping of assets in the escrow accountAdjustment Escrow Account, normal administrative functions of the Escrow Agent, including maintenance of the Escrow Agent’s records, follow-up of the Escrow Agreement’s provisions, and any other safekeeping duties required by the Escrow Agent under the terms of the Escrow Agreement. Fee is based on Escrow Amount being deposited in a non-interest bearing deposit account, FDIC insured to the applicable limits.

Appears in 1 contract

Sources: Merger Agreement (Methode Electronics Inc)