Cash Escrow. The Seller herewith deposits with the Escrow Agent, and the Escrow Agent acknowledges receipt of the sum of ($) which said sum shall be held by the Escrow Agent and disbursed as follows:
Cash Escrow. Within sixty (60) days of the Effective Date of this ----------- Agreement, or such other time period as mutually agreed by the parties, CP and NSI shall enter into an escrow deposit agreement ("Escrow Agreement") with a mutually agreeable escrow agent for the establishment of an escrow account. CP shall deposit the amount of Two Hundred Fifty Thousand Dollars (US $250,000) (the "Deposit") in such escrow account and shall list NSI as the beneficiary thereof upon occurrence of a Release Condition as defined below. NSI agrees to pay all applicable fees for the establishment and maintenance of the escrow account.
Cash Escrow. At Closing, as contemplated by Section 2(a)(ii), Xxxxx Enterprises shall deposit, on behalf of the Turecamo Stockholders, an aggregate of $2,000,000 in cash from the Cash Portion (allocated among the Turecamo Stockholders as set forth on Schedule 1) (collectively, the "ESCROW CASH PORTION") into an escrow account (the "CASH ESCROW ACCOUNT") maintained with a mutually agreed upon independent escrow agent (the "ESCROW AGENT"). Such Escrow Cash Portion will be held for the Turecamo Stockholders (or, if applicable, Xxxxx Enterprises) as specified in an escrow agreement substantially in the form of Exhibit B hereto (the "CASH ESCROW AGREEMENT") to be executed by Xxxxx Enterprises, the Turecamo Stockholders and the Escrow Agent. Interest earned on such Escrow Cash Portion shall be paid to the Turecamo Stockholders on a quarterly basis and shall not constitute a part of the Escrow Cash Portion. Xxxxx Enterprises and the Turecamo Stockholders agree that the Cash Escrow Account shall be used solely to satisfy any obligations of the Turecamo Stockholders set forth in Section 7(b) hereof, including, with respect to all Third Party Claims for which the Turecamo Stockholders are the Indemnifying Parties, reimbursement of the fees and expenses (including court costs and attorneys' fees and expenses) of the Party conducting the defense of such Third Party Claims in accordance with Section 7(e) hereof. With respect to each Third Party Claim for which the Turecamo Stockholders are the Indemnifying Parties, the Cash Escrow Account may be used for the reimbursement of the fees and expenses of only one counsel for all of the Turecamo Stockholders. If and to the extent that not all the Escrow Cash Portion is used to satisfy obligations of the Turecamo Stockholders pursuant to this Section 2(f), then any remaining funds in the Cash Escrow Account shall be released to the Turecamo Stockholders by the Escrow Agent in accordance with the terms of the Cash Escrow Agreement. The fees and expenses of the Escrow Agent shall be paid by Xxxxx Enterprises.
Cash Escrow. An assurance of completion of HUD required repairs. The amount(s) identified in the Property at a Glance. The cash escrow shall be held by HUD.
Cash Escrow. The parties hereto each acknowledge and agree that RTIC will deposit the Cash Consideration in an escrow account (the "Escrow Account"), to be held until the Effective Date or earlier termination of this Agreement pursuant to the terms and conditions of an escrow agreement, in substantially the form of Exhibit 5.9 hereto.
Cash Escrow. The Sellers identified in Schedule 4.5.1 attached hereto shall deliver to the issuer of the credit enhancement for the applicable Bonds as escrow agent (each an "Escrow Agent") immediately available funds on the Closing Date in the respective amounts as specified on Schedule 4.5.1. Such amounts shall be held by the Escrow Agent in escrow pursuant to a separate agreement for each Asset Motel financed with the Bonds, such escrow agreements to be entered into at Closing and to incorporate the applicable provisions of this Section 4.5. Such funds shall be invested as directed by mutual agreement of the applicable Sellers and the applicable Buyers, as specified on Schedule 4.5.1 hereto, or if they are unable to agree, in a money market investment, with the earnings to be disbursed as set forth herein. Such funds shall not be invested at a yield in excess of the yield on the applicable Bonds unless an opinion of Bond Counsel is delivered to the applicable Sellers stating that investment at a yield in excess of the yield on the applicable Bonds will not cause such Bonds to lose their tax exempt status.
Cash Escrow. At the Closing, Purchaser will deliver to Purchaser's counsel, Benesch Xxxxxxaxxxx Xxxxxx & Xxxxoff XXX ("BFCA"), for deposit into the IOLTA account of BFCA, by wire transfer of immediately available funds, an amount equal to Two Hundred Thousand Dollars ($200,000) (the "Escrow Amount"), to be held in trust on behalf of Purchaser and Retsky. Purchaser and Retsky hereby authorize and instruct BFCA to disburse the Escrow Amount (without further instructions from Retsky or Purchaser) as promptly as possible following receipt by BFCA of wire instructions for an interest-bearing escrow account in the joint name of Orion HealthCorp and Retsky (the "Cash Escrow Account") set up by City National Bank (the "Escrow Agent") to Escrow Agent for deposit into the Cash Escrow Account, by wire transfer of immediately available funds, to be held pursuant to the terms of an Escrow Agreement between Retsky, Purchaser and Escrow Agent (the "Escrow Agreement"). Purchaser and Retsky hereby release BFCA from all liability associated with holding of the Escrow Amount other than claims arising as a result of BFCA's willful misconduct and will jointly and severally indemnify BFCA from any and all liability associated with holding of the Escrow Amount. Purchaser and Retsky acknowledge that BFCA is an intended third party beneficiary of this Agreement for the purpose of enforcing the release and indemnity provisions of this section."
Cash Escrow. Svenxxxxxxx xxxnowledges that the purpose of the Loan is to enable Rittxxxxxx xx pay the income taxes due on the Shares to be issued to Rittxxxxxx xxxsuant to the Stock Agreement. In order to insure that the funds for the Loan will be available to Rittxxxxxx xx the Loan Advancement Dates, Svenxxxxxxx xxxees to deposit with the Escrow Agent within five (5) business days after the closing of the IPO, a sum (the "Fund") equal to the Maximum Amount of the Loan, which sum shall be held, invested and disbursed by the Escrow Agent as provided in this Agreement.
Cash Escrow. The defined term "Stock Escrow Amount" in the Original Stock Purchase Agreement is hereby deleted and replaced with the defined term "Escrow Amount", which is defined as follows:
Cash Escrow. $1.0 million of the Acquisition Consideration shall be placed into an interest bearing escrow account (the "Escrow Account") on the Closing Date with the Escrow Agent (the "Escrow Agent") pursuant to an escrow agreement in the form of Exhibit B (the "Escrow Agreement"). The Escrow Agreement shall provide that the cash deposited into the Escrow Account, plus interest accrued thereon (the "Cash Escrow"), shall be distributed within 10 days following the final approval of the Transferor's Closing Balance Sheet pursuant to Section 2.6. The Cash Escrow shall be distributed as follows:
