ESCROW PROCEDURE Sample Clauses

ESCROW PROCEDURE. (1) In the event that there is a Projected Overage for a Salary Cap Year, the following shall apply (subject to subsection (e) below regarding final reconciliation):
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ESCROW PROCEDURE. EXAMPLE ONLY The Escrow Agent will hold the Bid Deposit in a non-interest-bearing account and shall disperse the same only in accordance with the terms and conditions of this Agreement. In the event of a termination of this Agreement or a default under this Agreement, the Bid Deposit shall be delivered or disbursed by Escrow Agent as provided in this Agreement. If either party shall declare the other party in default under this Agreement and such party makes demand (the “Demand”) upon Escrow Agent for possession of the Deposit, said party must provide the other party with a copy of such Demand made upon Escrow Agent including Demands for the Deposit made by Buyer prior to the expiration of a permitted Feasibility Study Period. Escrow Agent shall not disburse the Deposit in accordance with the Demand until the demanding party delivers to Escrow Agent evidence (e.g., returned receipt from U.S. Postal Service) of the other party’s receipt of the Demand and Escrow Agent has not received written objection to such demand within the five (5) business days following said party’s receipt of the copy of such Demand. If any dispute or difference arises between Buyer and Seller or if any conflicting demands shall be timely made upon Escrow Agent or if the Escrow Agent is in doubt as to its duties or liabilities under the provisions of this Agreement, it may, in its sole discretion, continue to hold such funds until the parties mutually agree to disbursement thereof, or until a judgment of a court of competent jurisdiction shall determine the rights of the parties hereto., or Escrow Agent may transfer such funds to another account within the Clerk of the Circuit Court of Highlands County, Florida, pursuant to interpleader procedure, whereupon after notifying all parties concerned with such action and paying all costs imposed by the Clerk as a result of such deposit, Escrow Agent’s role as an escrow agent for the purposes of this Agreement shall terminate except to the extent of accounting for any monies theretofore delivered out of escrow. Buyer hereby agrees to indemnify and hold Escrow Agent harmless against any and all losses, claims, damages, liabilities and expenses, including without limitation, costs of investigation and legal counsel fees which may be imposed upon Escrow Agent or incurred by Escrow Agent in connection with the performance of its duties hereunder and including, without limitation, any litigation arising from this Agreement or involving the subje...
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ESCROW PROCEDURE. On or before , 2012, Seller shall deposit the deed in escrow with the Escrow Agent agreed upon by the parties to be Xxxxxx Land Title Co. located in Painesville, Ohio. The Buyer shall deposit the balance of the purchase price in escrow no later than , 2012. Buyer and Seller shall also deposit in escrow any funds and documents required by the escrow agent in order to complete the transaction contemplated by this offer. The escrow agent shall complete the transaction in accordance with the contract resulting for Seller's acceptance of this offer as promptly as possible after all funds and documents necessary to the completion of this transaction have been deposited in escrow. Otherwise the escrow shall be subject to the standard conditions and acceptance of escrow responsibility imposed by the escrow agent without further approval by Buyer or Seller, except to the extent that such conditions are inconsistent with the provisions of this offer.
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ESCROW PROCEDURE. (a) At any time and from time to time on or prior to the first (1st) anniversary of this Agreement (the “Escrow Release Date”), if any Buyer Indemnitee makes a claim for indemnity pursuant to and in accordance with Section 7.03 (a “Claim”), the Buyer Indemnitee (or Buyer on its behalf) shall deliver to the Escrow Agent and Seller a written notice (an “Escrow Notice”) setting forth in reasonable detail the amount, nature and basis of the Claim by such Buyer Indemnitee. If the Escrow Agent has not received a written objection to such Claim or portion thereof or the amount of such Claim from Seller within ten (10) business days following the Escrow Agent’s and Seller’s receipt of such Escrow Notice, then on the eleventh (11th) day following such receipt, the Escrow Agent shall release, by wire transfer to an account or accounts designated by Buyer, an amount of Parent Common Stock of value equal to the amount of such Claim.
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ESCROW PROCEDURE. (a) If either the Buyer or the Seller is entitled in accordance with Sections 5.2 or Section 5.3 to any amount credited to the Escrow Account, the Escrow Agent shall, upon the joint instruction of the Buyer and the Seller, release the money to the Buyer or the Seller, respectively provided that, in the event that a claim under this Agreement has been Finally Determined, the Buyer and the Seller shall be obliged to sign the relevant instruction for the release from the Escrow Account. The Escrow Agent shall have no obligation to release any monies in respect of the Escrow Account other than in accordance with such written instructions and the terms of the Escrow Account Letter. ** Portions of the Exhibit have been omitted and have been filed separately pursuant to an application for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
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ESCROW PROCEDURE. The Escrow Agent is hereby authorized and directed to deliver the Escrowed Funds only (i) pursuant to the joint written instructions of GAINSCO and Purchaser, or their successors, or (ii) to any of the undersigned in accordance with the terms of a final order, judgment, or decree of any court of competent jurisdiction, or binding arbitration panel (if applicable), which may be filed, entered, or issued.
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ESCROW PROCEDURE 
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Related to ESCROW PROCEDURE

  • Settlement Procedure 4.1. The Client has the right to withdraw his/her own funds which are not encumbered with deposit obligations or Commission payments in case of Copy Trading.

  • Dispute Settlement Procedures (1) If a dispute relates to:

  • Disbursement Procedure Subject to compliance by the Contracting Party with all the terms, provisions and conditions of this Agreement, including, but not limited to, the conditions precedent set forth within Sections 3, 4 and 5 hereof, the Board will cause its Depository to disburse sums to the Contracting Party, or to the appropriate payee, for the purpose of paying Costs of Construction items specified in the Approved Budget, in accordance with the following procedures:

  • DISPUTE SETTLEMENT PROCEDURE A major objective of this Agreement is to eliminate lost time and/or production arising out of disputes or grievances. Disputes over any work related or industrial matter should be dealt with as close to its source as possible. Disputes over matters arising from this agreement shall be dealt with according to the following procedure. An employee or the union delegate or site xxxxxxx or Enterprise should initially submit any work related grievance and/or industrial matter to the site foreperson, supervisor or other appropriate site representative of the company or appropriate site union representative as relevant. If the matter remains unresolved the union delegate or site xxxxxxx may then submit the matter to the appropriate senior management person. Where relevant the Enterprise may submit the matter to a union official. If still not resolved the delegate or site xxxxxxx shall refer the matter to an appropriate official of the union, who shall discuss the matter with the nominated representative of the Enterprise. If still not resolved there may be discussions between the state secretary and senior management representative. Whilst the above procedures are being followed work should continue as normal. This procedure is to be followed in good faith and without unreasonable delay by any party. Should the matter remain unresolved and where the issue is within the jurisdiction of the Victorian Building Industry Disputes Board (“the Board”), either of the parties shall refer the dispute at first instance to the Board (which shall deal with the dispute in accordance with VBIA procedures and, where required, determine issues of jurisdiction). The Board’s decision will be accepted by all parties subject to the right of either party to refer the dispute to the Australian Industrial Relations Commission for conciliation and if required arbitration. The Commission’s decision will be accepted by all parties subject to legal rights of appeal. This dispute settlement procedure does not apply to health and safety issues or issues of industry, state or national significance.

  • Claim Procedure Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall impair any Person’s right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties shall have a right to retain one separate counsel, chosen by the Holders representing a majority of the Registrable Securities included in the registration if such Holders are indemnified parties, at the expense of the indemnifying party.

  • Claims Procedure An Executive or Beneficiary (“claimant”) who has not received benefits under this Agreement that he or she believes should be distributed shall make a claim for such benefits as follows:

  • Dispute Settling Procedures (1) The principles of conciliation and direct negotiation shall be adopted for the purpose of prevention and settlement of any questions, disputes or difficulties that may arise in the operation of this Agreement.

  • Payment Procedure (a) The Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the Collection Account or Companion Distribution Account pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer acting on its behalf) shall (i) deposit such amounts to the applicable account within two (2) Business Days after receipt of properly identified and available funds by the Lead Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower and (ii) remit from the applicable account (A) prior to the Securitization Date, within two Business Days of receipt of properly identified funds (unless otherwise specified pursuant to an interim servicing agreement) and (B) on or after the Securitization Date, (1) with respect to the Lead Securitization Note, the remittance date under the Lead Securitization Servicing Agreement for the Lead Securitization Note and (2) with respect to the Non-Lead Securitization Note, (x) prior to the Non-Lead Securitization, the remittance date under the Lead Securitization Servicing Agreement for the Lead Securitization Note and (y) on or after the Non-Lead Securitization, the earlier of the remittance date under the Lead Securitization Servicing Agreement and the business day immediately succeeding the “determination date” set forth in the Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization Note, all payments received and allocable pursuant to this Agreement and the Lead Securitization Servicing Agreement with respect to the Non-Lead Securitization Note (net of amounts payable or reimbursable from such account) by wire transfer to accounts maintained by the applicable Note Holder.

  • Disbursement Procedures The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement.

  • Review Procedure If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial, as follows:

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