Common use of Establishment of the Bank Account Clause in Contracts

Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds by the Company, and (b) the disbursement of collected funds, all as described herein.

Appears in 3 contracts

Samples: Escrow Agreement for Disbursement (Expedite 4 Inc), Escrow Agreement for Disbursement (Emerald Acquisition CORP), Escrow Agreement for Disbursement (Emerald Acquisition CORP)

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Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds Amount by the Company, and (b) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Holdback Escrow Agreement (Emerald Acquisition CORP), Holdback Escrow Agreement (Expedite 4 Inc)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest-bearing interest bank account at the branch of the Bank XX Xxxxxx Xxxxx selected by the Escrow Agent Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds Amount by the CompanyIssuer to the Escrow Agent, and (b) the holding of the Escrow Amount and (c) the disbursement of collected fundsthe Escrow Amount, all as described herein.

Appears in 2 contracts

Samples: Indemnification Escrow Agreement (MMTec, Inc.), Escrow Agreement (CLPS Inc)

Establishment of the Bank Account. The Escrow Agent shall establish a non-an interest-bearing bank account at the branch of the Bank bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds Amount by the Company, and (b) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Holdback Escrow Agreement (China Growth CORP), Holdback Escrow Agreement (Dragon Acquisition CORP)

Establishment of the Bank Account. The Escrow Agent shall establish a non-an interest-bearing bank account at the branch of the Bank bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the IR Escrow Funds Amount by the Company, and (b) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Investor Relations Escrow Agreement (China Growth CORP), Investor Relations Escrow Agreement (Dragon Acquisition CORP)

Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Dividend Escrow Funds Amount and IR Escrow Amount by the CompanyIssuer, and (b) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (China Advanced Construction Materials Group, Inc)

Establishment of the Bank Account. a) The Escrow Agent shall establish a non-interest-bearing interest bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the Bank Account). The purpose of the Bank Account is for (a) the deposit of the Escrow all Escrowed Funds by the Company, and (b) the holding of Escrowed Funds until pending certain events as established herein (and Event of Release, collectively Events of Release), and (c) the disbursement of collected fundsEscrowed Funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Gilmore Homes - Gilmore Loans, LLC)

Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the IR Escrow Funds Amount by the Company, and (b) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Investor Relations Escrow Agreement (Emerald Acquisition CORP)

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Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds by the CompanyIssuer, and (b) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Investor Relations Escrow Agreement (Weikang Bio-Technology Group Co Inc)

Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the IR Escrow Funds Amount by the CompanyIssuer, and (b) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Investor Relations Escrow Agreement (CHINA INFRASTRUCTURE CONSTRUCTION Corp)

Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds by the CompanyFunds, and (b) the disbursement of collected fundsthe Escrow Funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Walker Digital, LLC)

Establishment of the Bank Account. The Escrow Agent shall establish a non-interest-bearing bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of the Escrow Funds by the Companysubscribers, and (b) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Accelerize New Media Inc)

Establishment of the Bank Account. a) The Escrow Agent shall establish a non-interest-bearing interest bank account at the branch of the Bank selected by the Escrow Agent (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks or wire transfers) which are received from prospective purchasers of the Shares and are delivered to the Escrow Funds by Agent, (b) the Companyholding of amounts of subscription monies which are collected through the banking system, and (bc) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Chanticleer Holdings, Inc.)

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