Escrowed Items Clause Samples
Escrowed Items. Proceeds received from subscribers will be deposited into the Escrow Account, as defined below, (the Proceeds collectively with the Escrowed Documents hereinafter are referred to as "Escrowed Items"). The foregoing property and/or funds, plus all interest, dividends and other distributions and payments thereon (collectively the “Distributions”) received by Escrow Agent, less any property and/or funds distributed or paid in accordance with this Escrow Agreement, are collectively referred to herein as “Escrow Property.”
Escrowed Items. To protect Customer's interest, Landacorp has placed in escrow a copy of the Software source code and relevant Documentation associated with the current major version of the Software.
Escrowed Items. Each Depositor either deposited with Escrow Agent on the date of this Agreement or shall deposit with Escrow Agent as promptly after the date of this Agreement as is possible the following items:
(i) one or more stock certificates representing the number of shares of Common Stock set forth beneath such Depositor's signature below; and
(ii) 33 stock powers endorsed by such Depositor in blank regarding such shares of Common Stock; and
(iii) 33 instruments executed by such Depositor each conveying to the Company as a contribution to the capital of the Company 1/33 of the shares of Common Stock originally deposited by such Depositor into escrow as Escrowed Items; and
(iv) 33 letters of instruction to the Company's transfer agent signed by such Depositor regarding such shares of Common Stock. The preceding stock certificates, stock powers, conveyance instruments and letters of instruction are referred to hereinafter collectively as the "Escrowed Items". The Escrow Agent's obligations hereunder are expressly conditioned upon the Escrow Agent's receipt of the Escrowed Items. In addition to the preceding, in connection with the execution of this Agreement, each Depositor executed in favor of CNLLC a proxy granting to CNLLC the right to vote all shares of Common Stock represented by the one or more stock certificate being deposited by such Depositor into escrow as Escrowed Items so long as such shares have not been conveyed to the Company as a contribution to the capital of the Company and so long as CNLLC has not failed to honor one of its periodic obligations under the Subscription Agreement to purchase 500,000 Class Two Units, as defined in the Subscription Agreement.