Deposit in Escrow Sample Clauses

Deposit in Escrow. (a) Escrow Agent hereby acknowledges the receipt from Purchaser of the sum of ________________________ ($15,612.52) Dollars (the "Escrowed Funds"). Escrow Agent agrees to hold and dispose of said sum, and all interest and gains earned thereon, in accordance with all the terms, conditions and provisions of this Agreement. Escrow Agent acts hereunder as a depository. All deposits are warranted by Purchaser to be valid deposits. (b) Escrow Agent shall invest the Escrowed Funds as directed by the joint written instructions of Seller and Purchaser. All earnings received by Escrow Agent as a result of such investment shall be added to the Escrowed Funds. In the absence of any joint direction by Seller and Purchaser to the contrary, Escrow Agent, in its discretion, shall invest all portions of the Escrowed Funds in certificates of deposit (90 day), and/or money market funds. 2

Deposit in Escrow. Section 4.01 The Deposit paid on execution hereof is being deposited with ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇▇ LLP, attorneys for Seller, at ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (“Escrow Agent”), who shall hold the proceeds thereof in an ▇▇▇▇ Fund account in accordance with Section 497 of the Judiciary Law, conditioned as follows: (a) The parties acknowledge that ▇▇▇▇▇▇ Agent is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent shall not be deemed to be the agent of either party and that Escrow Agent shall not be liable to either party for any act or omission on its part unless taken or suffered in bad faith or in willful disregard of this Agreement or involving gross negligence. Seller and Purchaser jointly and severally indemnify and hold Escrow Agent harmless from and against all costs, claims and expenses (including, but not limited to, reasonable attorneys’ fees as incurred) incurred in connection with the performance of Escrow Agents’ duties hereunder, except with respect to actions or omissions taken or suffered by Escrow Agent in bad faith or in willful disregard of this Agreement or involving gross negligence on the part of Escrow Agent. (b) Escrow Agent may act or refrain from action with respect to any matter referred to herein in full reliance upon and with the advice of counsel which may be selected by it (including any member of its firm) and shall be fully protected in so acting or refraining from action upon the advice of such counsel. (c) Escrow Agent has acknowledged its agreement to the provisions of this Section by signing in the place indicated on the signature page of this Agreement. (d) Escrow Agent or any member of its firm shall be permitted to act as counsel for Seller in any dispute as to the disbursement of the Deposit or any other dispute between the parties whether or not Escrow Agent is in possession of the Deposit and continues to act as Escrow Agent. (e) Escrow Agent shall be released and held harmless by Purchaser and Seller from all liability or obligation in the event that the deposit made hereunder, or any part thereof, shall be lost by reason of the insolvency or failure of the banking depository with whom the Deposit has been placed. The parties hereto acknowledge that Escrow Agent shall deposit the Deposit with Signature Bank in Jericho, New York. (f) If for any reason the Closing does not occur and either party makes a written demand upon Escrow Agent for paym...

Deposit in Escrow. At Closing, Buyer shall deliver cash from the Initial Purchase Price in the amount of Six Million United States Dollars ($6,000,000) (the “Escrow Amount”) to the Escrow Agent pursuant to the Escrow Agreement, to be held and disbursed upon and subject to all of the terms and conditions set forth therein.

Deposit in Escrow. Supplemental to the terms of the Purchase Agreement, on the Closing Date, BancPlus shall deposit or cause to be deposited into the Escrow Account with the Escrow Agent a certain amount of cash in immediately available funds from the Aggregate Cash Consideration (the “Escrow Amount”) equal to $10,000,000.

Deposit in Escrow. PHI is hereby delivering the Escrow Shares to the Escrow Agent, and the Escrow Shares are herewith deposited with the Escrow Agent, to be held and administered as provided herein.

Deposit in Escrow. Upon issuance, the certificates for the Shares shall be deposited in escrow with the Company to be held in accordance with the provisions of this Section 4. Each deposited certificate shall be accompanied by a duly executed Assignment Separate from Certificate in the form of Exhibit B. The deposited certificates, together with any other assets or securities from time to time deposited with the Company pursuant to the requirements of this Agreement, shall remain in escrow until such time or times as the certificates (or other assets and securities) are to be released or otherwise surrendered for cancellation in accordance with Section 4.3.

Deposit in Escrow. A. Within ten (10) days after the execution of this Escrow Agreement in accordance with Section 13.5 of said AGREEMENT, COMPANY shall deliver to Escrow Agent a sealed package containing: (i) a copy of a completely documented, then current version of the source code for SW in human readable form, as amended, the same being referred to hereinafter as the "Source Code". COMPANY shall identify each item in said package and certify the completeness and accuracy of the Source Code in a letter forwarding the same to Escrow Agent, with a copy of said letter to SIEMENS. Immediately upon receipt of the Source Code, Escrow Agent shall notify SIEMENS of such receipt. B. Escrow Agent shall hold the Source Code in a secure facility and shall release the same to SIEMENS upon the terms and conditions hereinafter provided. C. Unless otherwise provided by the AGREEMENT or this Escrow Agreement, or Addenda, Exhibits or Riders thereto, COMPANY has the obligation to keep the Source Code deposit updated with replacement Source Code in accordance with the following: SIEMENS / CASTLE OEM CONTRACT a. Replacement Source Code shall replace the existing Source Code as SW is updated or modified or revised. COMPANY will deliver the Replacement Source Code to the Escrow Agent, identifying each item of said Replacement Source Code delivered to said Escrow Agent and certifying the completeness and accuracy of the Replacement Source Code in a letter forwarding the same to Escrow Agent, with a copy of said letter to SIEMENS. Immediately upon receipt of the Replacement Source Code, Escrow Agent shall notify SIEMENS of such receipt. Escrow Agent will then destroy or return to COMPANY the previously deposited Source Code which has now been replaced, and the Replacement Source Code shall thereafter be referred to as Source Code.

Deposit in Escrow. The amounts deposited in Trust shall be deposited by the Company with the Trustee which shall be a national bank or Trust company selected by the Indemnitee, with the consent of the Company, which consent the Company shall not unreasonably withhold, and shall be subject to an escrow agreement in customary form. The cost of the Trust shall be a cost of the Company, and the estimated amount of such cost shall also be deposited by the Company in the Trust.

Deposit in Escrow. Pursuant to Section 1.01, concurrently with the execution and delivery of this Agreement, each holder of Escrow Shares shall (i) execute and deliver to Parent and Citigroup Global Markets Inc. (the “Escrow Agent”) a copy of the Escrow Agreement in the form attached hereto as Exhibit A (the “Escrow Agreement”), and (ii) deliver to the Escrow Agent a certificate or certificates (the “Escrow Certificates”) representing the shares of Company Common Stock set forth opposite such Shareholder’s name under the heading “Escrow Shares” on Annex I (the “Escrow Shares”) as provided in the Escrow Agreement, duly endorsed or accompanied by stock powers duly executed in blank. All Escrow Certificates so delivered to the Escrow Agent shall remain subject to the Escrow Agreement until the earliest of (1) the tender of such Escrow Shares in the Offer pursuant to the Escrow Agreement, (2) the date the Offer shall have been abandoned or terminated by Merger Subsidiary in accordance with the terms of the Merger Agreement, or (3) the date that this Agreement is terminated in accordance with Section 4.03 (the earlier such date, the “Termination Date”). If the Termination Date occurs in respect of the occurrence of an event described in clause (2) or (3) above, Parent and the Chief Executive Officer of the Company on behalf of the Shareholders shall give notice to the Escrow Agent of such event and, upon receipt of such notice, the Escrow Agent shall as promptly as practicable, but in no event later than two Business Days after the date of such notice, return all Escrow Certificates to their respective holders of record.