Escrow Holder Clause Samples
The Escrow Holder clause designates a neutral third party responsible for holding funds, documents, or other assets on behalf of the parties involved in a transaction until certain conditions are met. In practice, this clause outlines the duties of the escrow holder, such as safeguarding the assets, releasing them only upon fulfillment of specified terms, and providing instructions for dispute resolution if disagreements arise. Its core function is to ensure security and trust between parties by preventing premature release of assets and reducing the risk of non-performance or fraud.
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Escrow Holder. Seller and Buyer covenant and agree that in performing any of its duties under this Agreement, Title Company shall not be liable for any loss, costs or damage which it may incur as a result of serving as Escrow Holder hereunder, except for any loss, costs or damage arising out of its willful default or gross negligence. Accordingly, Title Company shall not incur any liability with respect to (i) any action taken or omitted to be taken in good faith upon advice of its counsel given with respect to any questions relating to its duties and responsibilities, or (ii) to any action taken or omitted to be taken in reliance upon any document, including any written notice of instruction provided for in this Agreement, not only as to its due execution and the validity and effectiveness of its provisions, but also to the truth and accuracy of any information contained therein, which Title Company shall in good faith believe to be genuine, to have been signed or presented by a proper person or persons and to conform with the provisions of this Agreement.
Escrow Holder. At the Close of Escrow, Escrow Holder will promptly undertake all of the following:
(a) Cause the Grant Deed (with documentary transfer tax information to be affixed AFTER recording) to be recorded with the County Recorder and obtain conformed copies thereof for distribution to Buyer and Seller.
(b) Direct the Title Company to issue the Title Policy to Buyer within 15 BUSINESS DAYS after Closing.
(c) Deliver to Buyer the FIRPTA Certificate, the Form 590 and any other documents (or copies thereof) deposited into Escrow by Seller. Deliver to Seller any other documents (or copies thereof) deposited into Escrow by Buyer.
(d) Notify the Transfer Agent by telephone and facsimile that the Close of Escrow has occurred.
Escrow Holder. The escrow holder shall be Commonwealth Land Title Insurance Company (“Escrow Holder”), whose address is ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Escrow Officer: ▇▇▇ ▇▇▇▇▇; Telephone: (▇▇▇) ▇▇▇-▇▇▇▇; Telecopier: (▇▇▇) ▇▇▇-▇▇▇▇.
Escrow Holder. Escrow Holder shall hold and dispose of ------------- the Deposit in accordance with the terms of this Agreement. Seller and Buyer agree that the duties of the Escrow Holder hereunder are purely ministerial in nature and shall be expressly limited to the administration of the Escrow and the safekeeping and disposition of the Deposit and any closing funds delivered into Escrow in accordance with this Agreement. Escrow Holder shall incur no liability in connection with the safekeeping or disposition of the Deposit for any reason other than Escrow Holder's failure to comply with any written escrow instructions signed by Buyer and Seller, willful misconduct or gross negligence. If Escrow Holder is in doubt as to its duties or obligations with regard to the Deposit, or if Escrow Holder receives conflicting instructions from Buyer and Seller with respect to the Deposit, then Escrow Holder shall not be required to disburse the Deposit and may, at its option, continue to hold the Deposit until both Buyer and Seller agree as to its disposition, or until a final judgment is entered by a court of competent jurisdiction directing its disposition, or Escrow Holder may interplead the Deposit in accordance with the laws of the state in which the Property is located. Escrow Holder shall not be responsible for any interest on the Deposit except as is actually earned, or for the loss of any interest resulting from the withdrawal of the Deposit prior to the date interest is posted thereon. Escrow Holder shall execute this Agreement solely for the purpose of being bound by the provisions of Sections 1.4, 1.5, 1.6, 1.7 and Article IV hereof. The parties agree to be bound by Escrow Holder's General Provisions attached hereto as Exhibit G; provided, however in the event of a discrepancy between this --------- Agreement and Escrow Holder's General Provisions, this Agreement shall prevail.
Escrow Holder. The Closing shall occur through the Escrow opened at the Escrow Holder named in Section 1.4. Escrow Holder is designated, authorized and instructed to act as Escrow Holder pursuant to the terms of this Agreement.
Escrow Holder. Each stock certificate representing issued and outstanding Unvested Shares shall be held in escrow by the Escrow Holder, together with a stock assignment executed in blank by the Optionee with respect to the Unvested Shares represented by such stock certificate. Each stock certificate representing Unvested Shares shall be held in escrow pursuant to this Section 8 until all of such Unvested Shares become fully vested pursuant to, and in accordance with, the provisions of Section 6 or Section 7 hereof or until all of such Unvested Shares are repurchased by the Company pursuant to, and in accordance with, the provisions of Section 7 hereof, whichever occurs earlier.
Escrow Holder. The ▇▇▇▇▇▇▇ Money shall be delivered to Chicago Title Insurance Company, Two Gateway Center, 19th Floor, 603 Stanwix Street, Pittsburgh, Pennsylvania 15222- 1402, with the individual contact being ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ at (▇▇▇) ▇▇▇-▇▇▇▇ and ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇ ("Escrow Holder"). Escrow Holder shall deposit and hold the ▇▇▇▇▇▇▇ Money in Escrow Holder's escrow account which is a non-interest bearing account at an FDIC insured financial institution.
Escrow Holder. The escrow holder shall be Chicago Title Company ("ESCROW HOLDER"), whose address is ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, Irvine, California 92606, Escrow Officer: ▇▇▇ ▇▇▇▇▇; Telephone: (▇▇▇) ▇▇▇-▇▇▇▇; Telecopier: (949) 263-0356.
Escrow Holder. 13 13.2 By Transfer Agent . . . . . . . . . . . . . . . . . . . . . . . . . .13 13.3 Possession.. . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Escrow Holder. Pepperdine University Real Estate Operations 24255 Pacific Coast Hwy. Malibu, CA ▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇ Telephone (▇▇▇) ▇▇▇-▇▇▇▇ Facsimile Outside Escrow Company (See Paragraph 2.4)