Escrow Account Statement Clause Samples
The Escrow Account Statement clause requires the escrow agent to provide regular statements detailing the status and activity of the escrow account. Typically, these statements include information such as deposits, withdrawals, interest earned, and the current balance, and are delivered to the parties involved at specified intervals, such as monthly or upon request. This clause ensures transparency and accountability in the management of escrowed funds, allowing all parties to monitor the account and promptly address any discrepancies.
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Escrow Account Statement. At least 30 days prior to each Interest Payment Date, the Escrow Agent shall deliver to the Company and the Trustee a statement setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds are invested ("Escrow Account Statement"). The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all U.S. Government Securities) is reduced to zero, the Escrow Agent shall deliver to the Company and to the Trustee a notice that the balance in the Escrow Account has been reduced to zero.
Escrow Account Statement. Each month, the Escrow Agent shall deliver to the Company and the Trustee a statement of the Escrow Agent in a form satisfactory to the Company and the Trustee setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds have been and are invested (the "Escrow Account State- 7 -7- ment"). The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all Marketable Securities) is reduced to zero, the Escrow Agent shall deliver to the Company and to the Trustee a written notice that the balance in the Escrow Account has been reduced to zero.
Escrow Account Statement. At least 30 days prior to each Interest Payment Date, the Escrow Agent shall deliver to the Leasing Company, the Trustees and the escrow agent for the Company Senior Note Escrow Account a statement setting forth with reasonable particularity the balance of funds then in the Leasing Company Escrow Account and the manner in which such funds are invested (the "Escrow Account Statement").
Escrow Account Statement. Each month, the Escrow Agent shall deliver to the Company and the Trustee a statement in a form satisfactory to the Company and the Trustee setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds are invested. The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow account is reduced to zero, the Escrow Agent shall deliver to the Company and to the Trustee a notice that the balance in the Escrow Account has been reduced to zero.
Escrow Account Statement. At least 30 days prior to each Interest Payment Date, the Escrow Agent shall deliver to the Company, the Trustee and the Existing Notes Trustee a statement setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds are invested ("Escrow Account Statement"). The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all U.S. Government Securities) is reduced to zero, the Escrow Agent shall deliver to the Company, to the Trustee and the Existing Notes Trustee a notice that the balance in the Escrow Account has been reduced to zero.
Escrow Account Statement. At least 30 days prior to each ------------------------ Interest Payment Date, the Escrow Agent shall deliver to the Company and the Trustee a statement setting forth with reasonable particularity the Collateral then held by the Escrow Agent, including the balance of funds then in the Escrow Account, and the manner in which such funds are invested (the "Escrow Account -------------- Statement"). The books and records of the Escrow Agent with respect to the --------- Escrow Account shall be open to inspection and audit at reasonable times during reasonable business hours by the Trustee and the Company or their respective representatives. The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all Temporary Cash Investments) is reduced to zero, the Escrow Agent shall deliver to the Company and to the Trustee a notice that the balance in the Escrow Account has been reduced to zero.
Escrow Account Statement. The Escrow Agent shall deliver to the Company and the Trustee a statement setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds are invested ("Escrow Account Statement"). The Escrow Account Statement shall be delivered by the Escrow Agent 30 days after the date of this Agreement and every 30 days thereafter until the Applicable Time, at which point the Escrow Account Statement shall be delivered at least 30 days prior to each Interest Payment Date. The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all Government Securities) is reduced to zero, the Escrow Agent shall deliver to the Company and to the Trustee a notice that the balance in the Escrow Account has been reduced to zero.
Escrow Account Statement. On each Payment Date (as defined ------------------------ herein), the Escrow Agent shall deliver to Aquarion and the Sellers a statement setting forth with reasonable particularity the balance of funds then in the Escrow Account ("Escrow Account Statement") and the calculation of the disbursement on such Payment Date.
Escrow Account Statement. 10 ARTICLE X. NOTICE........................................................................... 11 ARTICLE XI. MISCELLANEOUS................................................................... 11 Section 11.1. Waiver..................................................................... 11 Section 11.2. Invalidity................................................................. 11 i
Escrow Account Statement. EACH MONTH, THE ESCROW AGENT SHALL DELIVER TO THE COMPANY AND THE TRUSTEE A STATEMENT IN A FORM SATISFACTORY TO THE COMPANY AND THE TRUSTEE SETTING FORTH WITH REASONABLE PARTICULARITY THE BALANCE OF FUNDS THEN IN THE ESCROW ACCOUNT AND THE MANNER IN WHICH SUCH FUNDS ARE INVESTED. THE PARTIES HERETO IRREVOCABLY INSTRUCT THE ESCROW AGENT THAT ON THE FIRST DATE UPON WHICH THE BALANCE IN THE ESCROW ACCOUNT IS REDUCED TO ZERO, THE ESCROW AGENT SHALL DELIVER TO THE COMPANY AND TO THE TRUSTEE A NOTICE THAT THE BALANCE IN THE ESCROW ACCOUNT HAS BEEN REDUCED TO ZERO.