Interest on Escrow Clause Samples
The 'Interest on Escrow' clause defines how any interest earned on funds held in escrow will be handled during the period those funds are held. Typically, this clause specifies whether the interest accrues to the benefit of the buyer, seller, or is retained by the escrow agent, and may outline the method for calculating and distributing the interest. Its core practical function is to clarify entitlement to interest generated on escrowed funds, thereby preventing disputes and ensuring transparency between the parties involved.
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Interest on Escrow. 3.07.01 Seller shall indemnify and hold Buyer harmless from any and all claims, damages, costs and/or liabilities arising out of or in connection with Seller's obligations to pay interest on Escrow Accounts from the Initial Transfer Date to the applicable Transfer Date. At Seller's election, Seller shall post or cause to be posted accrued interest on each Escrow Account to the Borrower's account up to and including the Business Day prior to the applicable Transfer Date. In the event Seller does not elect to post interest on each Escrow Account in accordance with the preceding sentence, then, within five (5) business days after the applicable Transfer Date, Seller shall remit to Buyer a sum equal to the interest accrued on impounds as of the Sale Date along with reports separately detailing the accrued but unpaid interest as of the Sale Date and as of such Transfer Date.
Interest on Escrow. Interest accruing on all amounts deposited into the Escrow pursuant to this Agreement shall accrue for the benefit of the party hereunder to whom such amount is ultimately disbursed in accordance with the provisions of this Section 2.5 and the Escrow Agreement, and such interest shall be disbursed simultaneously with the disbursement of the applicable escrowed amount pursuant to the terms of this Agreement and the Escrow Agreement.
Interest on Escrow. The Seller will be entitled to retain any and all interest earned on the Indemnification Escrow Amount and the Buyer will be entitled to retain any and all interest earned on the Earn-out Escrow Amount.
Interest on Escrow. Business Partner to post Interest on Escrow for applicable states.