Payment of Escrow Settlement Amount Sample Clauses
The Payment of Escrow Settlement Amount clause defines the process by which funds held in escrow are released to the appropriate party as part of a settlement. Typically, this clause outlines the conditions that must be met before the escrow agent is authorized to disburse the settlement amount, such as the fulfillment of contractual obligations or the resolution of specific disputes. Its core function is to ensure that payment is made securely and only when agreed-upon terms are satisfied, thereby protecting both parties and reducing the risk of non-payment or premature release of funds.
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Payment of Escrow Settlement Amount. The Contributing Parties, or some of them, on behalf of the Defendants, shall pay the Settlement Amount to Strosberg ▇▇▇▇▇ ▇▇▇▇▇ LLP, in trust, within sixty (60) calendar days of June 20, 2018 which will deposit it in an interest-bearing trust account which shall be held to the order of the insurers who are Contributing Parties and shall be paid out upon the Settlement becoming final. The Individual Defendants shall have no liability for the Settlement Amount.
Payment of Escrow Settlement Amount. The Contributing Parties, or some of them, on behalf of the Defendants, shall pay the Settlement Amount to Sutts, Strosberg LLP, in trust, within (30) calendar days of the execution of this Agreement. The Defendants shall have no individual liability for the Settlement Amount.
Payment of Escrow Settlement Amount. The Contributing Parties, or any of them, shall pay the Settlement Amount to ▇▇▇▇▇▇▇▇ & Co., P.C., in trust, within twenty (30) calendar days of execution of this Agreement which will deposit it in an interest-bearing trust account which shall be held to the order of the Contributing Parties and shall be paid out upon the Settlement becoming final.
Payment of Escrow Settlement Amount. Within thirty (30) days of execution of this Agreement, the Defendants shall pay or cause to be paid the Settlement Amount to Sutts, Strosberg LLP, in trust, to be held in the Escrow Account until the Opt-Out Deadline and used only for the purposes of paying the anticipated Special Expenses referred to in section 4.1 of this Agreement.
Payment of Escrow Settlement Amount. 1. The Contributing Parties, or any of them, shall pay the Settlement Amount to KSM, in trust, within forty-five (45) calendar days of execution of this Agreement which will deposit it in the Escrow Account, which shall be held to the order of the Contributing Parties and shall be paid out upon the Settlement becoming final in accordance with section 13 of this Agreement.
2. Amounts paid by the Defendants’ insurers are properly paid under the applicable policies on behalf of the Insured, Allied Nevada Gold (now Hycroft) and accordingly, reduce the available limits of loss under those respective policies.
Payment of Escrow Settlement Amount. (1) The Contributing Parties, or some of them, on behalf of the Imperial Defendants, shall pay an amount required to reimburse the reasonable expenses incurred for the fees, disbursements, and taxes of the administrator, in seeking Court approval of the proposed settlement, up to a maximum amount of $200,000 (the “Advanced Payment”). In the event that the proposed settlement is not approved by the Court, the full amount of the Advanced Payment shall be repaid in full by the representative Plaintiff, and counsel for the representative Plaintiff shall guarantee the obligation of the representative Plaintiff to repay the full amount of the Advanced Payment.
(2) The Contributing Parties, or some of them, on behalf of the Imperial Defendants, shall pay the Settlement Amount to Siskinds LLP, in trust, within 30 days of the Court order approving the Settlement Agreement. Siskinds LLP shall deposit the Settlement Amount in an interest-bearing trust account which shall be held to the order of the Contributing Parties and shall be paid out to Siskinds LLP upon the Settlement becoming final.
Payment of Escrow Settlement Amount. (1) The Insurers paid the Settlement Amount into the Escrow Account on March 12, 2012.
Payment of Escrow Settlement Amount. (1) EH shall cause the Settlement Amount to be paid into the Escrow Account no later than 15 days after execution of this Agreement.
Payment of Escrow Settlement Amount. (1) On or before May 5, 2010, BLG will pay into the Escrow Account the amount of $200,000. BLG will pay interest at the rate of 5% per year on any portion of $200,000 not deposited in the Escrow Account by May 5, 2010.
(2) BLG will cause the Insurer to use best efforts to pay $1,100,000 into the Escrow Account by May 5, 2010. BLG will cause the Insurer to pay interest at the rate of 5% per year on any portion of $1,100,000 not deposited in the Escrow Account by June 10, 2010.
(3) On or before April 30, 2010, Boily will pay into the Escrow Account the amount of $5,000. Boily will pay interest at the rate of 5% per year on any portion of $5,000 not deposited in the Escrow Account by April 30, 2010.
Payment of Escrow Settlement Amount. Within ten (10) days of execution of this Agreement, the Defendants shall pay or cause to be paid $75,000 (USD) of the Settlement Amount to Sutts, Strosberg LLP, in trust, to be held in trust and used only for the purposes of paying the anticipated costs referred to in sections 4.1(1)(a), 4.1(1)(b) and 10.1 of this Agreement. Within thirty (30) days after the Court issues the Approval Order, the Defendants shall pay or cause to be paid $5,275,000 (USD), being the balance of the Settlement Amount, to Sutts, Strosberg LLP, in trust, in full satisfaction of the Released Claims against the Releasees. Sutts, Strosberg LLP will transfer the Settlement Amount, less the anticipated costs referred to in sections 4.1(1)(a), 4.1(1)(b) and 10.1 of this Agreement, into the Escrow Account.