POSTAGE ESCROW Clause Samples
The Postage Escrow clause establishes a requirement for funds to be set aside specifically to cover postage expenses related to the performance of a contract. Typically, this involves one party depositing a predetermined amount into an escrow account, which is then used to pay for mailing or shipping costs as they arise during the course of the agreement. By segregating these funds, the clause ensures that postage costs are reliably covered, preventing disputes or delays due to unpaid mailing expenses and providing assurance to both parties regarding the handling of such operational costs.
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POSTAGE ESCROW. Dell will provide escrow funds to OnePak prior to the start of each calendar quarter to cover outgoing postage costs for that quarter, based on a budget of Dell’s estimated volumes. OnePak will track these funds in a postage account and will make available to Dell weekly online reports based on actual orders shipped. If actual weekly aggregate averages consistently exceed budgeted amounts for more than one month during any quarter, Dell will promptly provide sufficient funds to keep a positive balance in the account based on a new current quarter budget estimate made by Dell. In the event the escrow account develops a negative balance, Dell will immediately replenish sufficient funds within 10 business days of notification of the situation to prevent any interruption in delivery of Products by OnePak. In the event the postage escrow account has a negative balance for more than 10 business days OnePak will place any product orders for Dell on hold until postage escrow funds are received.
POSTAGE ESCROW. Seller shall at Closing pay out of the Cash Consideration the sum of $4,000,000 to Seyburn, Kahn, Ginn, Bess, Deit▇▇ ▇▇▇ Serl▇▇ (▇▇e "POSTAGE ESCROW AGENT"), to be held in escrow by the Postage Escrow Agent pursuant to the terms and conditions of that certain escrow agreement (the "POSTAGE ESCROW AGREEMENT") attached hereto as EXHIBIT "6.9".