Initial Escrow Deposit Sample Clauses

The Initial Escrow Deposit clause defines the requirement for the buyer to deposit a specified sum of money into an escrow account at the outset of a transaction. Typically, this deposit is made shortly after the contract is signed and serves as a demonstration of the buyer’s good faith and commitment to the deal. By securing funds in escrow, this clause helps ensure that the buyer is serious and provides the seller with some assurance that the transaction will proceed, thereby reducing the risk of default.
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Initial Escrow Deposit. Simultaneously with the execution and delivery ---------------------- of this Agreement by both parties, Buyer has deposited with Media Services Group, Inc. ("Initial Escrow Agent"), a cash deposit of Five Hundred Thousand Dollars ($500,000) (the "Initial Escrow Deposit"). The Initial Escrow Deposit shall be held in an interest-bearing account and disbursed by Initial Escrow Agent pursuant to the terms of an escrow agreement in the form attached hereto as Exhibit 1 (the "Initial Escrow Agreement"), which Initial Escrow Agreement has been entered into by Seller, Buyer and Initial Escrow Agent simultaneously herewith.
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Initial Escrow Deposit. 8 4.0 PURCHASE PRICE AND METHOD OF PAYMENT..................... 8 4.1. Consideration..................................... 8 4.2. Payment at Closing................................ 8 4.3. Allocation........................................ 8
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Initial Escrow Deposit. (a) Upon the execution of this Agreement, Buyer will deliver to ▇▇▇▇▇ Fargo Bank, National Association (the “Escrow Agent”) cash in an amount equal to $500,000 by wire transfer of immediately available United States funds and Buyer will deliver to the Escrow Agent no later than 5:00 p.m. EST on the third Business Day after the date of this Agreement cash in an amount equal to $1.5 million by wire transfer of immediately available United States funds (including all interest accrued thereon, collectively, the “Initial Escrow Deposit”). The Initial Escrow Deposit will be held by the Escrow Agent during the Initial Escrow Period in an account and will be released as follows and in accordance with the terms of the escrow agreement entered into among Buyer, the Company and the Escrow Agent on the date hereof in the form of Exhibit C (the “Escrow Agreement”). (1) the Initial Escrow Deposit will be paid to Buyer in the event this Agreement is terminated by the Company or Buyer, or both of them, pursuant to Section 9.1(a), 9.1(b)(i) (unless, in the case of a termination by the Company, Buyer could not have terminated this Agreement at such time pursuant to Section 9.1(b)(i)), 9.1(b)(iv), 9.1(b)(v) or 9.1(c), or by Buyer pursuant to Section 9.1(b)(ii), 9.1(b)(iii) or 9.1(d), and, in each event, will be paid upon such termination; (2) the Initial Escrow Deposit will be paid to the Company in the event this Agreement is terminated by the Company pursuant to Section 9.1(e), 9.1(b)(i) (but only to the extent that Buyer could not have terminated this Agreement at such time pursuant to Section 9.1(b)(i)), 9.1(b)(ii) or 9.1(b)(iii), and, in each event, will be paid upon such termination; (3) if the Closing occurs, (A) the Initial Escrow Deposit will be held by the Escrow Agent during the Initial Escrow Period and will be paid to Buyer during the Initial Escrow Period in amounts equal to Sellers’ obligations to Buyer under Section 3.4 and otherwise for any losses, liabilities, claims, damages, expenses (including costs of investigation and defense and reasonable attorneys’ fees and expenses) or diminution of value suffered or incurred by Buyer, whether or not involving a third-party, arising from or in connection with (i) any breach of any representation or warranty made by Sellers in this Agreement, Sellers’ Disclosure Schedule or any certificate, transfer instrument, document, writing or instrument delivered by Sellers pursuant to this Agreement, (ii) any breach of any co...
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Initial Escrow Deposit. Upon receipt of the Funding Amount pursuant to Section 2.02(a), the Paying Agent shall deposit with W▇▇▇▇ Fargo Bank, N.A. in its capacity as escrow agent (the “Escrow Agent”) in a separate escrow fund (the “Escrow Fund”) an amount in cash equal to the Aggregate Closing Escrow Amount. The Escrow Fund shall be subject to the terms and conditions of this Agreement and an escrow agreement executed by and among Parent, the Company, Seller Representatives and the Escrow Agent and attached hereto as Annex II (the “Escrow Agreement”) which provides for the establishment, funding and release of the following Escrow Fund sub-accounts:
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Initial Escrow Deposit. 8 ---------------------- 4. PURCHASE PRICE AND METHOD OF PAYMENT....................................................... 8 ------------------------------------ 4.1. CONSIDERATION.................................................................. 8 ------------- 4.2. PAYMENT AT CLOSING............................................................. 8 ------------------ 4.
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Initial Escrow Deposit. Buyer deposited the sum of Thirty Five Thousand Dollars ($35,000) with Sellers when it executed a letter of intent. Upon execution of this Agreement, Sellers shall return the $35,000 deposit and Buyer shall deposit with Wilmington Trust Company ("Initial Escrow Agent"), a cash deposit of Two Million Dollars ($2,000,000) (the "Initial Escrow Deposit"). The Initial Escrow Deposit shall be held in an interest-bearing account with a federally insured financial institution and disbursed by Initial Escrow Agent pursuant to the terms of an escrow agreement in the form attached hereto as Exhibit 1 (the "Initial Escrow Agreement"), which Initial Escrow Agreement has been entered into by Shareholders, Buyer and Initial Escrow Agent simultaneously herewith. The fees, if any, of the Initial Escrow Agent shall be borne equally between the Shareholders on the one hand, and the Buyer on the other hand, except that in the event of a dispute involving any part or all of the Initial Escrow Deposit the fees of the Initial Escrow Agent and the costs, including reasonable attorney's fees of the prevailing party, shall be borne by the non-prevailing party.
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Initial Escrow Deposit. Simultaneous with the execution of this Agreement, ---------------------- Buyer shall deposit with Wilmington Trust Company ("Initial Escrow Agent"), a cash deposit of Five Hundred Thousand Dollars ($500,000) (the "Initial Cash Escrow Deposit"). The Initial Cash Escrow Deposit shall be held in an interest- bearing account with a federally insured financial institution and the Initial Cash Escrow Deposit shall be disbursed by Initial Escrow Agent pursuant to the terms of an escrow agreement in the form attached hereto as Exhibit 1 (the "Initial Escrow Agreement"), which Initial Escrow Agreement has been entered into by Company, Shareholder, Buyer and Initial Escrow Agent simultaneously herewith. The fees, if any, of the Initial Escrow Agent shall be borne equally between Company on the one hand, and Buyer on the other hand.
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Initial Escrow Deposit. The parties hereby acknowledge and agree that, pursuant to Section 7.5(a) of the Merger Agreement, on the date hereof, Parent shall deposit an ▇▇▇▇▇▇▇ money deposit of $2,500,000 in cash (the "Initial Deposit") with the Escrow Agent, in immediately available funds, to be held and disbursed in accordance with the terms hereof.
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Initial Escrow Deposit. The Issuer shall have deposited $3,000,000 in the Escrow Account.
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Related to Initial Escrow Deposit

  • Escrow Deposit Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) in lawful money of the United States of America by wire transfer of immediately available funds] [and] [[ ] Class A Trust Certificates] [and] [[ ] Class B Trust Certificates] in accordance with Section 14 of the Series Supplement] (the "Escrow Deposit"), to Escrow Agent to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit. Any cash amounts in the Escrow Deposit may be increased or decreased in accordance with the terms of Section 2.02(i)(vi) of the Warrant Agreement and the terms of this agreement will apply with equal force and effect to any such increased or decreased cash amounts in the Escrow Deposit.

  • Additional Escrow Amounts On the date of any Purchase Withdrawal, the Pass Through Trustee may re-deposit with the Depositary some or all of the amounts so withdrawn in accordance with Section 2.4 of the Deposit Agreement.

  • Unused Escrow Funds In the event that a Closing does not occur when required under the Contract, or in the event that the Closing does occur but Escrow Funds remain in an account with Escrow Agent, the Escrow Agent shall notify OPWC in writing promptly thereafter. After receipt of such notice, OPWC shall deliver written instructions to Escrow Agent directing Escrow Agent’s release of the Escrow Funds. Immediately upon Escrow Agent’s receipt of such notice from OPWC, Escrow Agent shall release the Escrow Funds, or balance thereof, in accordance with OPWC’s written instructions.

  • Escrow Deposits All escrow deposits and escrow payments currently required to be escrowed with the Mortgagee pursuant to each Mortgage Loan (including capital improvements and environmental remediation reserves) are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no delinquencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required under the related Mortgage Loan documents are being conveyed by the Mortgage Loan Seller to the Depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the Non-Serviced PSA or Non-Serviced Master Servicer for the related Non-Serviced Trust).

  • Indemnity Escrow As a remedy for the indemnity set forth in Article VII, at the Closing, Parent shall deposit with the Escrow Agent 7.5% of the Transaction Shares (the “Escrowed Indemnity Shares”), comprised of Escrowed Earnout Shares (including First Target Shares, Second Target Shares and Third Target Shares) and Transaction Shares that are not Escrowed Earnout Shares to be held in a separate escrow account and released therefrom (if applicable) from time to time to Parent in satisfaction of such indemnity, all in accordance with Article VII hereof and the terms and conditions of the Escrow Agreement. On the fifth Business Day following the date (the “Indemnity Escrow Termination Date”) that is fifteen (15) months from the Closing Date, the Escrow Agent shall release the Escrowed Indemnity Shares, less any of such shares applied in satisfaction of a claim for indemnification and any of such shares related to a claim for indemnification that is then unresolved. Upon such release, Escrowed Indemnity Shares that constitute Transaction Shares shall be delivered to the Company Stockholders in accordance with Section 2.6(c) of the Company Disclosure Statement and the Escrow Agreement; and the Escrowed Indemnity Shares that constitute Escrowed Earnout Shares shall be retained in escrow in accordance with Section 2.8 hereof and the Escrow Agreement. Any Escrowed Indemnity Shares held with respect to any unresolved claim for indemnification and not applied as indemnification with respect to such claim upon its resolution shall be delivered in accordance with the preceding sentence.