Closure of the Escrow Account Sample Clauses

Closure of the Escrow Account. 17.4.1 The Escrow Account shall be closed upon the Termination of the SFM Agreement.
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Closure of the Escrow Account. The Escrow Agent shall be entitled to close the Escrow Account without any further instruction or authority from the Escrow Parties on the date falling 28 days following distribution in full out of the Escrow Account of all the monies standing to the credit of the Escrow Account (including any interest), pursuant to clause 8.2.
Sample 1
Closure of the Escrow Account. The Escrow Account shall be closed upon the Termination of this Agreement. Upon Termination of this Agreement, all amounts standing to the credit of the Escrow Account shall, notwithstanding anything in this Agreement, be first appropriated and dealt with solely by the written instruction of IRSDC in the following order: all taxes, duties, cess and fees due and payable in respect of the Project66; payment to IRSDC of an amount equivalent to then applicable Required Amount, for the purposes of which the calculation date shall be the date of such Termination; outstanding amounts payable to IRSDC including any unpaid liquidated damages; all payments and damages certified by IRSDC as due and payable to it by the Facility Manager pursuant to the Station Facility Management Agreement, including any claims or demands in connection with or arising out of termination of the Station Facility Management Agreement; incurred or accrued O & M Expenses (other than amounts specified in (i) above); and towards discharging outstanding debt for the Project (if any), as obtained by the Facility Manager; The balance, if any, may be withdrawn from the Escrow Account in accordance with the instructions of the Facility Manager. : INSURANCE Maintenance of Insurance The Facility Manager shall effect and maintain, at its own cost during the Term all necessary insurances, including necessary xxxxxxx’x compensation insurance, other insurances for such maximum sums as may be required under Applicable Laws and such insurances as may be necessary or prudent in accordance with Good Industry Practice, in respect of the entire Project. The Facility Manager shall also effect and maintain such insurances as may be necessary for mitigating the risks that may devolve on IRSDC and/or the MoR and/ or Railway Administration as a consequence of any act or omission of the Facility Manager, its Sub-Contractors, Licensees, personnel, agents etc. Without prejudice to the generality of the foregoing, the Facility Manager shall for the duration that the Assets and the Project Utilities (or the relevant parts thereof) are in possession of the Facility Manager under this Agreement (or are otherwise required to be maintained by the Facility Manager), procure the insurance cover in respect of:
Sample 1

Related to Closure of the Escrow Account

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

  • Escrow Accounts Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • Requirements to Establish Escrow Accounts 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Escrow Requirement; Escrow Items Borrower must pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum of money to provide for payment of amounts due for all Escrow Items (the “Funds”). The amount of the Funds required to be paid each month may change during the term of the Loan. Borrower must promptly furnish to Lender all notices or invoices of amounts to be paid under this Section 3.

  • Closing Your Account Unless an agreement relating to a particular product or service says otherwise, you can close your Account at any time provided that you first settle any debit balance owing.

  • BIDDING DEPOSIT Subject to Clause 5.1 below, all intending bidders shall deposit with the Auctioneer, prior to the auction sale, a bank draft or cashier’s order drawn in favour of AmBank (M) Berhad for the a/c of IKHMAS JAYA SDN BHD, a Bidding Deposit equivalent to ten per cent (10%) of the Reserve Price or a minimum of RM2,000.00 whichever is higher. Online Bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit.

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (000) 000-0000. This does not apply to transactions occurring outside the United States.

  • Escrow Escrow shall be opened by Seller and funds deposited in escrow upon acceptance of this Agreement by both parties. The escrow holder will be a nationally-recognized escrow company selected by Seller. A copy of this Agreement will be delivered to the escrow holder and will serve as escrow instructions together with the escrow holder's standard instructions and any additional instructions required by the escrow holder to clarify its rights and duties (and the parties agree to sign these additional instructions). If there is any conflict between these other instructions and this Agreement, this Agreement will control.

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