Establishment of Escrow; Appointment of Escrow Agent Sample Clauses

Establishment of Escrow; Appointment of Escrow Agent. (a) On the date of this Agreement, or as agreed to by the Parties, pursuant to Section 2.3(c)(i) of the Purchase Agreement, Purchaser will deliver to the Escrow Agent cash in the amount of $18,000,000 (the “Escrow Property”). The Escrow Agent hereby accepts and agrees to hold the Escrow Property and all dividends, interest and earnings thereon in a separate and distinct account (the “Escrow Account”) on behalf of the Parties pursuant to the provisions of this Agreement.
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Establishment of Escrow; Appointment of Escrow Agent. (a) HUB hereby establishes an escrow account for the benefit of Consultant (the "ESCROW") to provide for the payment, which is scheduled to become payable to Consultant under the Resignation Agreement on January 2, 2001, of $800,000 plus the net earnings, if any, on the Escrow Fund (the "SCHEDULED PAYMENT"). HUB has delivered EIGHT HUNDRED THOUSAND U.S. DOLLARS ($800,000.00) to the Escrow Agent, to be held by the Escrow Agent pursuant to the terms and conditions of this Escrow Agreement. Such amount, plus all earnings thereon, and minus any distributions or losses on investments, are referred to herein as the "
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Establishment of Escrow; Appointment of Escrow Agent. (a) The Parties hereby appoint, as the Escrow Agent, the following (the “Escrow Agent”): XXXXX & SCHLOSS LLP 00 Xxxx 00xx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000-0000 Attention: Xxxxxxx X. Xxxxx, Esq. Phone: 000.000.0000 Fax: 000.000.0000 The Parties agree to establish an Escrow Account to be monitored and maintained by the Escrow Agent who will be instructed to provide for the distribution of the Collateral, the dividends generated by the Fund, and the collateral documents (hereafter collectively referred to as “Escrow Property”) as provided for in this Agreement. The Parties further acknowledge that the Escrow Agent has in the past represented ASCOT, and desires to continue in the future to represent ASCOT, as its attorney in various legal matters.
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Establishment of Escrow; Appointment of Escrow Agent. (a) On the date of this Agreement, pursuant to Section 3(c) of the Purchase Agreement, Buyer will transfer, by wire transfer of immediately available funds, $200,000 for the purpose of purchase price adjustment obligations that may become due to Buyer pursuant to the Purchase Agreement (the “Escrow Amount”, and together with any interest and other income thereon, the “Escrow Funds”), to the following account (the “Escrow Account”), to be held on behalf of the Parties pursuant to the provisions of this Agreement: ABA: AC Name: Ac #: 1 FFC: Attn:
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Establishment of Escrow; Appointment of Escrow Agent. The parties hereby appoint the law firm of Xxxxxx & Xxxxxx, L.L.P. as "Escrow Agent", which firm shall also act as Escrow Agent in the transactions with other Program Participants. The duties and responsibilities of the Escrow Agent shall be as set forth in the Escrow Agreement attached as Exhibit "C". In accordance with the Escrow Agreement, the parties hereto agree to the following procedure:
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Related to Establishment of Escrow; Appointment of Escrow Agent

  • Appointment of Escrow Agent The Company and the Initial Stockholders hereby appoint the Escrow Agent to act in accordance with and subject to the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such terms.

  • Establishment of Escrow To ensure that shares subject to the Unvested Share Repurchase Option will be available for repurchase, the Company may require the Optionee to deposit the certificate evidencing the shares which the Optionee purchases upon exercise of the Option with an agent designated by the Company under the terms and conditions of escrow and security agreements approved by the Company. If the Company does not require such deposit as a condition of exercise of the Option, the Company reserves the right at any time to require the Optionee to so deposit the certificate in escrow. Upon the occurrence of an Ownership Change Event or a change, as described in Section 9, in the character or amount of any of the outstanding stock of the corporation the stock of which is subject to the provisions of this Option Agreement, any and all new, substituted or additional securities or other property to which the Optionee is entitled by reason of the Optionee's ownership of shares of Stock acquired upon exercise of the Option that remain, following such Ownership Change Event or change described in Section 9, subject to the Unvested Share Repurchase Option shall be immediately subject to the escrow to the same extent as such shares of Stock immediately before such event. The Company shall bear the expenses of the escrow.

  • Establishment of Escrow Account Prior to the Issuer initiating the Offering, and prior to the receipt of the first Subscriber funds, Escrow Agent shall establish an account for the Issuer (the “Escrow Account”). All parties agree to maintain the Escrow Account and Escrow Amount (as defined below) in a manner that is compliant with applicable banking and securities regulations. Escrow Agent shall be the sole administrator of the Escrow Account.

  • Duties of Escrow Agent (a) Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto.

  • Resignation and Removal of Escrow Agent Escrow Agent may resign from the performance of its duties hereunder at any time by giving thirty (30) days' prior written notice to the parties or may be removed, with or without cause, by the parties, acting jointly, by furnishing a Joint Written Direction to Escrow Agent, at any time by the giving of ten (10) days' prior written notice to Escrow Agent as provided herein below. Upon any such notice of resignation or removal, the representatives of the Investor(s) and the Company identified in Sections 13a.(iv) and 13b.(iv), below, jointly shall appoint a successor Escrow Agent hereunder, which shall be a commercial bank, trust company or other financial institution with a combined capital and surplus in excess of $10,000,000.00. Upon the acceptance in writing of any appointment of Escrow Agent hereunder by a successor Escrow Agent, such successor Escrow Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Escrow Agent, and the retiring Escrow Agent shall be discharged from its duties and obligations under this Escrow Agreement, but shall not be discharged from any liability for actions taken as Escrow Agent hereunder prior to such succession. After any retiring Escrow Agent's resignation or removal, the provisions of this Escrow Agreement shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Escrow Agent under this Escrow Agreement. The retiring Escrow Agent shall transmit all records pertaining to the Escrow Funds and shall pay all funds held by it in the Escrow Funds to the successor Escrow Agent, after making copies of such records as the retiring Escrow Agent deems advisable and after deduction and payment to the retiring Escrow Agent of all fees and expenses (including court costs and attorneys' fees) payable to, incurred by, or expected to be incurred by the retiring Escrow Agent in connection with the performance of its duties and the exercise of its rights hereunder.

  • Investment of Escrow Funds The Escrow Agent shall deposit the Escrow Funds in a non-interest bearing money market account. If Escrow Agent has not received a Joint Written Direction at any time that an investment decision must be made, Escrow Agent may retain the Escrow Fund, or such portion thereof, as to which no Joint Written Direction has been received, in a non-interest bearing money market account.

  • Disbursement of Escrow Funds (a) Subject to Section 3(b) and Section 10, NCPS shall promptly disburse in accordance with the Instruction Letter the liquidated value of the Escrow Funds from the Escrow Account to Issuer by wire transfer no later than one Business Day following receipt of the following documents:

  • Investment of Escrow Fund During the term of this Escrow Agreement, the Escrow Fund shall be invested and reinvested by the Escrow Agent in the investment indicated on Schedule 1 or such other investments as shall be directed in writing by the Issuer and the Depositor and as shall be acceptable to the Escrow Agent. All investment orders involving U.S. Treasury obligations, commercial paper and other direct investments may be executed through broker-dealers selected by the Escrow Agent. Periodic statements will be provided to the Issuer and the Depositor reflecting transactions executed on behalf of the Escrow Fund. The Issuer and the Depositor, upon written request, will receive a statement of transaction details upon completion of any securities transaction in the Escrow Fund without any additional cost. The Escrow Agent shall have the right to liquidate any investments held in order to provide funds necessary to make required payments under this Escrow Agreement. The Escrow Agent shall have no liability for any loss sustained as a result of any investment in an investment indicated on Schedule 1 or any investment made pursuant to the instructions of the parties hereto or as a result of any liquidation of any investment prior to its maturity or for the failure of the parties to give the Escrow Agent instructions to invest or reinvest the Escrow Fund. The Escrow Agent may earn compensation in the form of short-term interest (“float”) on items like uncashed distribution checks (from the date issued until the date cashed), funds that the Escrow Agent is directed not to invest, deposits awaiting investment direction or received too late to be invested overnight in previously directed investments.

  • Resignation of Escrow Agent (1) If the Escrow Agent wishes to resign as escrow agent, the Escrow Agent will give written notice to the Issuer.

  • Investment of Escrowed Funds Upon collection of each check by the ---------------------------- Escrow Agent, the Escrow Agent shall invest the funds in deposit accounts or certificates of deposit which are fully insured by the Federal Deposit Insurance Corporation or another agency of the United States government, short-term securities issued or fully guaranteed by the United States government, federal funds, or such other investments as the Escrow Agent and the Company shall agree. The Company shall provide the Escrow Agent with instructions from time to time concerning in which of the specific investment instruments described above the Escrowed Funds shall be invested, and the Escrow Agent shall adhere to such instructions. Unless and until otherwise instructed by the Company, the Escrow Agent shall by means of a "Sweep" or other automatic investment program invest the Escrowed Funds in blocks of $1,000 in federal funds. Interest and other earnings shall start accruing on such funds as soon as such funds would be deemed to be available for access under applicable banking laws and pursuant to the Escrow Agent's own banking policies.

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