Escrow of Purchase Price. 3.6.1 Simultaneously with the execution and delivery of a counterpart to this Agreement by the Purchaser, such Purchaser shall promptly cause a wire transfer of immediately available funds (U.S. dollars) in an amount representing such Purchaser’s “Aggregate Purchase Price”, as set forth on such Purchaser’s signature page, to be paid to the non-interest bearing escrow account of Lxxxxxxxxx Xxxxxxx PC, the Placement Agent’s counsel (“Placement Agent’s Counsel”), set forth on Appendix I hereto (the aggregate amounts being held in escrow are referred to herein as the “Escrow Amount”). Placement Agent’s Counsel shall hold the Escrow Amount in escrow until (i) Placement Agent’s Counsel receives written instructions from the Company and the Placement Agent authorizing the release of the Escrow Amount; (ii) Placement Agent’s Counsel receives written instructions from the Company and/or the Purchaser that the Agreement has been terminated in accordance with Section 21 in which case Placement Agent’s Counsel shall return to the Purchaser the portion of the Escrow Amount such Purchaser delivered to the Placement Agent’s Counsel; or (iii) ninety (90) days after the date of this Agreement in which case Placement Agent’s Counsel shall return to such Purchaser the portion of the Escrow Amount such Purchaser delivered to the Placement Agent’s Counsel. The Company hereby authorizes the Placement Agent’s Counsel to release from the Escrow Amount, at the Initial Closing and the Second Closing, without further action or deed (other than receipt of the written instructions from the Company and the Placement Agent authorizing the release of the Escrow Amount), the (i) the cash commission (the “Placement Fee”) to be paid to the Placement Agent pursuant to the terms of the agreement between the Company and the Placement Agent; and (ii) the Escrow Amount less the Placement Fee to the Company.
Escrow of Purchase Price. (a) In accordance with the Escrow Agreement, but in any event no later than simultaneously with the execution and delivery of this Agreement and the other Principal Agreements required to be executed on the date hereof by the parties hereto and thereto, Eco Telecom shall deposit with the Escrow Agent by wire transfer of immediately available funds that portion of the Purchase Price as is specified opposite Eco Telecom's name in Schedule 2.02. Thereafter, such portion of the Purchase Price shall be held in escrow, shall accrue interest as set forth in the Escrow Agreement, and shall be returned to Eco Telecom or paid over to the Issuer, in each case, in accordance with this Agreement and the Escrow Agreement.
Escrow of Purchase Price. With respect to Eco Telecom, from and after the date on which US$50,000,000 of the Purchase Price specified opposite Eco Telecom's name in Schedule 2.02 has been deposited with the Escrow Agent and until such portion of the Purchase Price has been repaid to Eco Telecom or paid to the Issuer, in each case, in accordance with the terms of the Escrow Agreement, shall ensure and hereby covenants and agrees that no Liens securing Indebtedness of Eco Telecom shall attach to such portion of the Purchase Price.
Escrow of Purchase Price. 3.1. Simultaneously with the execution and delivery of this Agreement by an Investor, such Investor shall (i) promptly cause a wire transfer of immediately available funds (U.S. dollars) in an amount representing such Investor’s “Aggregate Purchase Price”, as set forth on such Investor’s signature page and opposite such Investor’s name on Schedule I affixed hereto, to be paid to the non-interest bearing escrow account of Xxxxxxxxxx Xxxxxxx PC, the Placement Agent’s counsel (“Placement Agent Counsel”), set forth on Schedule II affixed hereto (the aggregate amounts being held in escrow are referred to herein as the “Escrow Amount”) and (ii) deliver to the Placement Agent a duly executed counterpart to the Registration Rights Agreement. Placement Agent Counsel shall hold the Escrow Amount in escrow until Placement Agent Counsel receives written instructions from the Company and the Placement Agent authorizing the release of the Escrow Amount in accordance with Section 4. If Placement Agent Counsel has not released the Escrow Amount pursuant to this Section 3.1, then, on the sooner of (x) June 30, 2004, or (y) receipt of written instructions from the Company or the Placement Agent to terminate the escrow and return the Escrow Amount to the Investors, Placement Agent Counsel shall return to each Investor the portion of the Escrow Amount such Investor delivered to the Placement Agent Counsel, but only to the extent of the funds actually received by the Placement Agent Counsel pursuant to this Agreement.
Escrow of Purchase Price. Within five (5) business days of Effective Date, Buyer shall consummate payment of Purchase Price to Escrow Agent for the transaction contemplated by this Agreement in accordance with Escrow Agent standard terms of escrow.
Escrow of Purchase Price. Buyers shall deposit their respective portion of the Purchase Price, as listed in Schedule A hereunder, in accordance with the terms of the Escrow Agreement.
Escrow of Purchase Price. In the event Stockholder Approval is not obtained prior to a Closing Date, such Purchase Price that is due on the respective Closing Date shall be deposited into an escrow account pursuant to the terms of the escrow agreement between the Company, the Investor and Xxxxxx & Xxxxxx, LLP (as escrow agent) in substantially the form attached hereto as Exhibit B (the “Escrow Agreement”).
Escrow of Purchase Price. In the event that: (i) at the Closing Seller fails to deliver the documents specified in clauses 3.1.1(b), 3.1.1(c), or 3.1.1(d) above; or (ii) on the Closing Date any other lien or encumbrance against the Intellectual property exists, then, in such event, the entire of the purchase price specified in Subsection 2.2 above shall be placed in escrow to be held by an escrow agent satisfactory to Buyer pursuant to an escrow agreement in form and substance satisfactory to Buyer. The purchase price shall be released from escrow upon the delivery to Seller of the documents specified in clauses 3.1.1(b), 3.1.1(c), and 3.1.1(d) above and the release of any other such lien or encumbrance against the Intellectual Property.
Escrow of Purchase Price. (a) The Company, New IAC and JPMorgan Chase Bank, N.A., (in such capacity, the “Escrow Agent”) have entered into, or shall enter into, an Escrow Agreement substantially in the form attached as Exhibit A hereto (the “Escrow Agreement”). Purchaser and the Company agree that the Company may direct the Escrow Agent to release the Purchase Price, as the Company may direct, in the event that the Closing occurs. The Company agrees to promptly deliver an instruction to the Escrow Agent to release the Purchase Price to the Purchaser (if applicable) in the event of the termination of this Agreement if the Closing does not occur, and the Purchaser covenants and agrees with the Company that the Company may instruct the Escrow Agent to wire the Purchase Price to the account set forth on the signature page to this Agreement, without any further confirmation with or from the Purchaser.
Escrow of Purchase Price. At Closing Date One Million Dollars ($1,000,000) in cash and One Hundred Eighty-One Thousand Eight Hundred Eighteen (181,818) shares of CNCP Stock of the Merger Consideration defined in Section 2.2 shall be deposited in an escrow account pursuant to the terms and conditions of the Escrow Agreement attached as Exhibit 2.3.
