Deposit with Escrow Sample Clauses
The 'Deposit with Escrow' clause establishes that a specified sum of money or asset will be held by a neutral third party (the escrow agent) until certain conditions of the agreement are met. In practice, this means that one party deposits funds into an escrow account, and the escrow agent releases the funds only when both parties fulfill their contractual obligations, such as the completion of a service or delivery of goods. This arrangement protects both parties by ensuring that payment is not made until agreed-upon terms are satisfied, thereby reducing the risk of non-performance or breach.
Deposit with Escrow. Within two (2) business days following the execution of this Agreement, Licensor and Licensee shall deposit this Agreement into an escrow account (the “Licensee Escrow Account”) established with Escrow, and Licensee shall deposit with Escrow funds in an amount equal to the 99-Year Fee set forth in Section 1(e) of the Specific Provisions. This Agreement and the 99-Year Fee shall be held in escrow until closing of the Licensor’s acquisition of the Property in accordance with the Master Purchase Agreement.
Deposit with Escrow. Within two (2) business days following the execution of this Agreement, (i) Licensor and Licensee shall deposit into an escrow account (the “Licensee Escrow Account”) established with Escrow a fully-executed copy of this Agreement; (ii) Licensee shall deposit with Escrow funds in an amount equal to the Loan amount set forth in Section 1(e) of the Specific Provisions and (iii) Licensee shall deposit with Escrow an executed, undated original copy of the Note. This Agreement, the Loan proceeds and the Note shall be held in escrow until closing of the Licensor’s acquisition of the Property in accordance with the Master Purchase Agreement.
Deposit with Escrow. The terms and conditions of the Option granted hereunder and Seller's sale of the Property to Buyer, and the instructions to Escrow Holder with regard to the escrow (the "Escrow") created pursuant hereto are as set forth in this Agreement. Within five (5) business days of the execution of this Agreement, Seller and Buyer shall deliver a fully executed original counterpart of this Agreement and a fully executed and notarized original of the Memorandum of Option (as defined below) to Escrow Holder.