Deposit of Escrow Funds or Property Sample Clauses

Deposit of Escrow Funds or Property. 2.1 Vencor shall deliver the sum of $2,762,822.25, and Ventas shall deliver the sum of $28,122,357.03, to the Escrow Agent. The Escrow Agent agrees to hold the Escrow Property in an account established with the Escrow Agent (the "Escrow Account"), and to administer the Escrow Property in accordance with the -------------- terms of this Agreement. Each of Vencor and Ventas represents, respectively, that its transfer under this Section 2.1 to the Escrow Agent is the entire amount required to be so transferred pursuant to Section 2(a) of the Refund Agreement. The Escrow Agent shall promptly acknowledge receipt of such funds when received.
Sample 1
AutoNDA by SimpleDocs
Deposit of Escrow Funds or Property. 2.1 Vencor shall deliver the sum of $2,762,822.25, and Ventas shall deliver the sum of $28,122,357.03, to the Escrow Agent. The Escrow Agent agrees to hold the Escrow Property in an account established with the Escrow Agent (the "Escrow Account"), and to administer the Escrow Property in accordance with the -------------- terms of this Agreement. Each of Vencor and Ventas represents, respectively, that its transfer under this Section 2.1 to the Escrow Agent is the entire amount required to be so transferred pursuant to Section 2(a) of the Refund Agreement. The Escrow Agent shall promptly acknowledge receipt of such funds when received. 2.2 Upon delivery of additional funds to the Escrow Agent by either of Vencor or Ventas, pursuant to section 2(b) of the Refund Agreement, such funds shall be added to the Escrow Deposit, and the Escrow Agent shall provide to the depositor a receipt evidencing such deposit. Section 3.
Sample 1
Deposit of Escrow Funds or Property. On October 31, 2003 the Buyer shall deposit with the Escrow Agent in immediately available funds the amount of Three Hundred Seventy-Five Thousand Dollars ($375,000), (the “Escrow Deposit”, and together with any investment income or proceeds received by the Escrow Agent from the investment thereof from time to time pursuant to Section 3 below, collectively, the “Escrow Property”), and the Escrow Agent agrees to hold the Escrow Property in an account established with the Escrow Agent (the “Escrow Account”), and to administer the Escrow Property in accordance with the terms of this Agreement.
Sample 1
Deposit of Escrow Funds or Property. (a) Concurrently with the execution and delivery hereof or promptly thereafter, Escrow Corp. shall deposit or cause to be deposited the Initial Deposit with the Escrow Agent. The Escrow Agent agrees to hold the Escrow Property in a segregated trust account established with the Escrow Agent, which shall at all times be under the sole dominion and control, and the "control" within the meaning of Sections 8-106 and 9-104 of the UCC, of the Trustee (the "Escrow Account"). The Escrow Agent agrees to administer the Escrow Property in accordance with the terms of this Agreement. Upon receipt of the Initial Deposit, the Escrow Agent shall, upon the written request of Escrow Corp., invest all or a portion of the Escrow Property in specific Cash Equivalents, as specifically directed in writing by Escrow Corp. and the Escrow Agent agrees to credit all Cash Equivalents to the Escrow Account and agrees to treat all Cash Equivalents and other assets now or hereafter credited to the Escrow Account as "financial assets" within the meaning of Section 8-102(a)(9) of the UCC. It is understood and agreed that the Escrow Account shall be maintained in the name "Bank of Oklahoma, National Association, as trustee" and the Escrow Agent shall treat the Trustee as its customer and entitlement holder of the Escrow Account. Escrow Agent agrees to comply with all entitlement orders and instructions issued by the Trustee with respect to the Escrow Account and the funds, financial assets and other property now or hereafter credited thereto without further consent of Escrow Corp. or any other person.
Sample 1
Deposit of Escrow Funds or Property. On the date hereof, (i) the Purchasers shall deposit with the Escrow Agent in immediately available funds the aggregate amount of $17,000,000 (the "Escrow Funds"), and (ii) the Company shall deliver to the Escrow Agent the shares of Preferred Stock and Warrants listed on the attached SCHEDULE A (the "Escrow Shares"), and the Escrow Agent shall hold and administer the Escrow Funds and the Escrow Shares (said Escrow Funds, together with any investment income received by the Escrow Agent from the investment thereof from time to time pursuant to Section 4 below, and said Escrow Shares, together with any dividends and other distributions therefrom or proceeds thereof received by the Escrow Agent, are collectively referred to as the "Escrow Property") subject to the terms of this Agreement. The Escrow Agent agrees to hold the Escrow Funds in an account (the "Escrow Account"), and to administer the Escrow Property, in accordance with the terms of this Agreement.
Sample 1
Deposit of Escrow Funds or Property. On the date hereof, the Buyer shall deposit with the Escrow Agent in immediately available funds the amount of $25,000,000 (the “Escrow Deposit”, as increased by any investment income or proceeds received by the Escrow Agent from the investment thereof from time to time pursuant to Section 4 below, or as decreased by any payments disbursed pursuant to Section 3 below or paid to the Escrow Agent pursuant to Section 6 below, collectively, the “Escrow Property”), and the Escrow Agent agrees to hold the Escrow Property in an account established with the Escrow Agent (the “Escrow Account”) and to administer the Escrow Property in accordance with the terms of this Agreement.
Sample 1
Deposit of Escrow Funds or Property. On the Closing Date, Purchaser shall deposit with the Escrow Agent in immediately available funds the amount of JPY One Hundred Ninety Million (¥190,000,000) (the “Escrow Property”), and the Escrow Agent agrees to hold the Escrow Property in an account established with the Escrow Agent (the “Escrow Account”), and to administer the Escrow Property in accordance with the terms of this Agreement. Except as set forth in Section 6(d), Escrow Agent is merely acting as escrow holder and shall have no right, title or interest in or to the Escrow Property covered by this Escrow Agreement, The responsibilities of the Escrow Agent hereunder shall be to act as bailee for Purchaser and Seller, to hold the Escrow Property in safekeeping and to make disposition of the Escrow Property as provided herein. Escrow Agent agrees that the Escrow Account is and shall be a separate and identifiable account from all other funds held by Escrow Agent.
Sample 1
AutoNDA by SimpleDocs

Related to Deposit of Escrow Funds or Property

  • Deposit of Escrow Funds By its execution hereof, Recipient acknowledges that the deposit of the Escrow Funds into escrow with Escrow Agent does not confer any rights or claims to the Escrow Funds by Recipient unless all of the conditions in Section 2 above and the conditions as set forth in the Grant Agreement, have been satisfied.

  • Deposit of Escrow Fund The Escrow Agent shall establish an account in the name of Mercantile Absolute Return Fund LLC, Escrow Account for the Benefit of Members (the "Subscription Account") and an account in the name of Mercantile Absolute Return Fund LLC Repurchase Account (the "Repurchase Account") and together with the Subscription Account, (the "Accounts"). The Escrow Agent shall promptly deposit in the Subscription Account checks remitted by Potential Members and made payable to the Company. Potential Members also may deposit monies in the Subscription Account by wire transfer pursuant to instructions provided to them by the Company. Balances on deposit in the Subscription Account will earn interest at prevailing market rates pursuant to arrangements approved by the Company.

  • Deposit of Escrow Shares On or before the Effective Date, each of the Initial Stockholders shall deliver to the Escrow Agent certificates representing his respective Escrow Shares, to be held and disbursed subject to the terms and conditions of this Agreement. Each Initial Stockholder acknowledges that the certificate representing his Escrow Shares is legended to reflect the deposit of such Escrow Shares under this Agreement.

  • Deposit of Escrow Securities On or before the Closing Date, the Initial Holders shall deliver to the Escrow Agent certificates representing their respective Escrow Securities, in proper transfer order with Medallion guaranteed stock powers, to be held and disbursed subject to the terms and conditions of this Agreement. The Initial Holders acknowledge and agree that the certificates representing the Escrow Securities will bear a legend to reflect the deposit of such Escrow Securities under this Agreement.

  • Disbursement of Escrow Funds (a) Subject to Section 3(b) and Section 10, NCPS shall promptly disburse in accordance with the Instruction Letter the liquidated value of the Escrow Funds from the Escrow Account to Issuer by wire transfer no later than one Business Day following receipt of the following documents:

  • Release of Escrow Funds The Escrow Funds shall be paid by the Escrow Agent in accordance with the following:

  • Investment of Escrow Funds The Escrow Agent shall deposit the Escrow Funds in a non-interest bearing money market account. If Escrow Agent has not received a Joint Written Direction at any time that an investment decision must be made, Escrow Agent may retain the Escrow Fund, or such portion thereof, as to which no Joint Written Direction has been received, in a non-interest bearing money market account.

  • Disbursements of Escrow Funds (a) Escrow Agent shall disburse Escrow Funds at any time and from time to time, upon receipt of, and in accordance with, a Joint Written Direction received by Escrow Agent as set forth in Section 15. Such Joint Written Direction will contain Complete Payment Instructions.

  • Release of Escrow Fund (a) On the first Business Day after the date that is six (6) months from the closing of the Merger (the “Termination Date”), the Escrow Agent shall distribute and deliver to each Owner certificates representing shares of Parent Common Stock equal to the original number of shares placed in such Owner’s account, less that number of shares in such Owner’s account equal to the sum of (i) the number of shares applied in satisfaction of Indemnification Claims made prior to that date and (ii) the number of shares in the Pending Claims Reserve allocated to such Owner’s account, as provided in the following sentence. If, at such time, there are any Indemnification Claims with respect to which Notices have been received but which have not been resolved pursuant to Section 3 hereof or in respect of which the Escrow Agent has not been notified of, and received a copy of, a final determination (after exhaustion of any appeals) by a court of competent jurisdiction, as the case may be (in either case, “Pending Claims”), and which, if resolved or finally determined in favor of Parent, would result in a payment to Parent in excess of the Deductible, the Escrow Agent shall retain in the Pending Claims Reserve that number of shares of Parent Common Stock having a Fair Market Value equal to the dollar amount for which indemnification is sought in such Indemnification Claim in excess of the Deductible to the extent all Established Claims have not exceeded, in the aggregate, the Deductible, allocated pro rata from the account maintained on behalf of each Owner. The Parent Representative and the Holder Representative shall certify to the Escrow Agent the Fair Market Value to be used in calculating the Pending Claims Reserve, and the number of shares of Parent Common Stock to be retained therefor. Thereafter, if any Pending Claim becomes an Established Claim, the Parent Representative and the Holder Representative shall deliver to the Escrow Agent a Joint Notice directing the Escrow Agent to deliver to Parent the number of shares in the Pending Claims Reserve in respect thereof determined in accordance with paragraph 3(f) above and to deliver to each Owner the remaining shares in the Pending Claims Reserve allocated to such Pending Claim, all as specified in a Joint Notice. If any Pending Claim is resolved against Parent, the Parent Representative and the Holder Representative shall deliver to the Escrow Agent a Joint Notice directing the Escrow Agent to pay to each Owner its pro rata portion of the number of shares allocated to such Pending Claim in the Pending Claims Reserve.

  • Investment of Escrow Fund During the term of this Escrow Agreement, the Escrow Fund shall be invested and reinvested by the Escrow Agent in the investment indicated on Schedule 1 or such other investments as shall be directed in writing by the Issuer and the Depositor and as shall be acceptable to the Escrow Agent. All investment orders involving U.S. Treasury obligations, commercial paper and other direct investments may be executed through broker-dealers selected by the Escrow Agent. Periodic statements will be provided to the Issuer and the Depositor reflecting transactions executed on behalf of the Escrow Fund. The Issuer and the Depositor, upon written request, will receive a statement of transaction details upon completion of any securities transaction in the Escrow Fund without any additional cost. The Escrow Agent shall have the right to liquidate any investments held in order to provide funds necessary to make required payments under this Escrow Agreement. The Escrow Agent shall have no liability for any loss sustained as a result of any investment in an investment indicated on Schedule 1 or any investment made pursuant to the instructions of the parties hereto or as a result of any liquidation of any investment prior to its maturity or for the failure of the parties to give the Escrow Agent instructions to invest or reinvest the Escrow Fund. The Escrow Agent may earn compensation in the form of short-term interest (“float”) on items like uncashed distribution checks (from the date issued until the date cashed), funds that the Escrow Agent is directed not to invest, deposits awaiting investment direction or received too late to be invested overnight in previously directed investments.

Time is Money Join Law Insider Premium to draft better contracts faster.