Escrow of Proceeds. Concurrently with the closing of this offering, the Escrow Issuer will enter into the Escrow Agreement with the Trustee and the Escrow Agent. The Escrow Issuer will deposit (or cause to be deposited) into the Escrow Account an amount equal to the gross proceeds of the Notes sold on the Issue Date, plus accrued interest on the Notes through and including September 10, 2022 (the “Outside Date”) (collectively and, together with any other property from time to time held by the Escrow Agent in the Escrow Account, the “Escrowed Property”). Escrow Issuer will cause an additional amount to be deposited into the Escrow Account such that the Escrowed Property is sufficient to yield the Special Mandatory Redemption Price as of the Special Mandatory Redemption Date (each as defined under Section 14.02). The Escrowed Property will be held in the Escrow Account until the earlier of (i) an Escrow Release (as defined below) following the delivery by Issuer to the Escrow Agent of the Officer’s Certificate referred to in the next succeeding paragraph and (ii) a Special Mandatory Redemption Date. The Escrow Issuer will grant the Trustee, for its benefit and the benefit of the Holders, subject to certain Liens of the Escrow Agent, a first-priority Lien in the Escrow Account and all Eligible Escrow Investments therein to secure the payment of the Special Mandatory Redemption Price (as defined below); provided, however, that such Lien shall automatically be released and terminated at such time as the Escrowed Property is released from the Escrow Account on the Escrow Release Date (as defined below). The Escrow Agent will invest the Escrowed Property in such Eligible Escrow Investments, and liquidate such Eligible Escrow Investments, as the Issuer will from time to time direct in writing. Subject to the provisions described in Section 14.02, the Escrow Issuer will only be entitled to direct the Escrow Agent to release Escrowed Property (in which case the Escrowed Property will be paid to or as directed by the Escrow Issuer) (the “Escrow Release”) upon delivery to the Escrow Agent, on or prior to the Outside Date, of an Officer’s Certificate, certifying that the following conditions (the “Escrow Release Conditions”) have been or, substantially concurrently with the release of the Escrowed Property, will be satisfied (the date of the Escrow Release is hereinafter referred to as the “Escrow Release Date”):
Escrow of Proceeds. On the Closing Date, the Company will deposit or cause to be deposited with the Escrow Agent an amount in cash, which, together with the net proceeds of the offering of the Notes deposited by the Initial Purchase hereof and the Escrow Agreement, is sufficient to redeem the Notes at the Special Redemption Price on July 9, 2015, pursuant to the terms of the Escrow Agreement.
Escrow of Proceeds. (a) The Escrow Issuer, contemporaneously with entering into this Indenture, is entering into an escrow agreement (the “Escrow Agreement”) with U.S. Bank National Association, as escrow agent (the “Escrow Agent”), the Trustee, the trustee under the Secured Indenture and Scripps.
Escrow of Proceeds. The Company shall deposit, or cause to be deposited, the net proceeds of the offering of the Notes issued on the Issue Date into the Escrow Account on the Issue Date and shall comply with the terms of the Escrow Agreement.
Escrow of Proceeds. (a) Concurrently with the issuance of the Notes, WRECO shall enter into the Escrow Agreement on the Issue Date with the Trustee and the Escrow Agent, pursuant to which WRECO shall deposit (or cause to be deposited) into a segregated Escrow Account under the control of the Escrow Agent, the gross proceeds from the offering of the Notes. WRECO shall grant to the Trustee for the benefit of the Holders a first-priority security interest in the Escrow Account.
Escrow of Proceeds. (a) The Issuer shall apply the Escrowed Property in accordance with the terms of the Escrow Agreement.
Escrow of Proceeds. (a) On the Issue Date, and on or about the time of the issuance of the Notes, the Initial Purchasers, at the direction of the Company, shall, pursuant to the Escrow Agreement, deposit into a segregated escrow account (the “Escrow Account”) the gross proceeds of the offering of the Notes (collectively with the Escrow Account and any other property from time to time held in the Escrow Account, the “Escrowed Property”). The Company shall grant the Trustee, for the benefit of itself and Holders of the Notes, a first-priority security interest in the Escrow Account in accordance with the terms of the Escrow Agreement.
Escrow of Proceeds. The proceeds from the sale of all of the Shares offered in the offering will be deposited into the Escrow Account. If the proceeds, in cleared funds, from the sale of a minimum of 300,000 Shares have not been deposited with the Escrow Agent within one year from the date of the Company's definitive Prospectus, the full amount paid will be refunded to the purchasers. No certificates evidencing the Shares will be issued unless and until the escrow amount has been deposited with the Escrow Agent, and such funds have been released and the net proceeds thereof delivered to the Company. If the escrow amount is deposited within the time period provided above, all amounts so deposited will be delivered to the Company except that the Underwriter may deduct its underwriting commissions from the proceeds of the offering prior to delivery of such proceeds to the Company. No commissions will be paid by the Company or commissions allowed by the Underwriter unless and until proceeds, in cleared funds, from the sale of at least 300,000 Shares, have been deposited with the Escrow Agent and such funds have been released and the net proceeds thereof delivered to the Company.
Escrow of Proceeds. The aforesaid $16.35 million to $20.0 million purchase price for the GMI Stock shall be deposited with the Escrow Agent and released to the Bell/Xxxxxx Group only upon the closing (the “Plan Closing”) of the transactions contemplated by the Fourth Amended and Restated Joint Plan of Reorganization of the General Media Debtors (the “Plan”), including, but not limited to, the purchase of up to 48.3% of the GMI Stock by the Company and the consummation of the transactions contemplated by the Transaction Documents. A copy of the GMI Purchase Agreement and the Plan has been made available to each Purchaser.
Escrow of Proceeds. (a) The Company, contemporaneously with entering into this Indenture, is entering into an escrow agreement (the “Escrow Agreement”) with U.S. Bank National Association, as escrow agent (the “Escrow Agent”) and Xxxx TV. The Company shall apply the Escrowed Funds in accordance with the terms of the Escrow Agreement.
