Receipt of Escrowed Funds Sample Clauses

Receipt of Escrowed Funds. On the date hereof, Seller shall deliver to the Escrow Agent Two Million and No/100 Dollars ($2,000,000.00) in immediately available funds (the “Escrow Property”) and the Escrow Agent shall deposit the Escrow Property into an escrow account (the “Escrow Account”). Escrow Agent shall release the Escrow Property only as provided below.
Sample 1
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Receipt of Escrowed Funds. On the date hereof, Seller shall deliver to the Escrow Agent (i) Two Million and No/100 Dollars ($2,000,000.00) in immediately available funds (the "Seller Obligations Escrow"), and (ii) One Hundred Twenty Thousand and No/100 Dollars ($120,000.00) in immediately available funds (the "Work Escrow" and together with the Seller Obligations Escrow, collectively, the "Escrow Property"), and the Escrow Agent shall deposit the Escrow Property into an escrow account (the "Escrow Account"). Escrow Agent shall release the Escrow Property only as provided below.
Sample 1
Receipt of Escrowed Funds. HHH shall have received the Escrow Funds, if consented to by RSH in accordance with SECTION 2.2(b)(vii), $700,000 interest earned or accrued thereon since October 6, 1995 and the payments and/or promissory note deliveries required to be made by Dart at Closing pursuant to SECTION 2.2(b)(i), less any required tax withholdings specified in EXHIBIT 20.
Sample 1
Receipt of Escrowed Funds. Agent hereby acknowledges receipt of the Escrowed Funds and agrees to hold and disburse the same in strict accordance with the provisions of this Agreement.
Sample 1
Receipt of Escrowed Funds. The Escrow Agent acknowledges that, upon receipt of the Original Escrow Amount, such funds will be held in escrow on behalf of the parties in accordance with the terms hereof. The Escrow Agent shall cause the Original Escrow Amount to be deposited in an interest bearing trust account with a Canadian chartered bank. Any interest actually earned from such account shall follow the principal amount applicable thereto (collectively, the Original Escrow Amount and any interest actually earned thereon are referred to herein as the "Escrowed Funds").
Sample 1

Related to Receipt of Escrowed Funds

  • Investment of Escrowed Funds Upon collection of each check by the ---------------------------- Escrow Agent, the Escrow Agent shall invest the funds in deposit accounts or certificates of deposit which are fully insured by the Federal Deposit Insurance Corporation or another agency of the United States government, short-term securities issued or fully guaranteed by the United States government, federal funds, or such other investments as the Escrow Agent and the Company shall agree. The Company shall provide the Escrow Agent with instructions from time to time concerning in which of the specific investment instruments described above the Escrowed Funds shall be invested, and the Escrow Agent shall adhere to such instructions. Unless and until otherwise instructed by the Company, the Escrow Agent shall by means of a "Sweep" or other automatic investment program invest the Escrowed Funds in blocks of $1,000 in federal funds. Interest and other earnings shall start accruing on such funds as soon as such funds would be deemed to be available for access under applicable banking laws and pursuant to the Escrow Agent's own banking policies.

  • Investment of Escrow Funds The Escrow Agent shall deposit the Escrow Funds in a non-interest bearing money market account. If Escrow Agent has not received a Joint Written Direction at any time that an investment decision must be made, Escrow Agent may retain the Escrow Fund, or such portion thereof, as to which no Joint Written Direction has been received, in a non-interest bearing money market account.

  • Investment of Escrow Fund During the term of this Escrow Agreement, the Escrow Fund shall be invested and reinvested by the Escrow Agent in the investment indicated on Schedule 1 or such other investments as shall be directed in writing by the Issuer and the Depositor and as shall be acceptable to the Escrow Agent. All investment orders involving U.S. Treasury obligations, commercial paper and other direct investments may be executed through broker-dealers selected by the Escrow Agent. Periodic statements will be provided to the Issuer and the Depositor reflecting transactions executed on behalf of the Escrow Fund. The Issuer and the Depositor, upon written request, will receive a statement of transaction details upon completion of any securities transaction in the Escrow Fund without any additional cost. The Escrow Agent shall have the right to liquidate any investments held in order to provide funds necessary to make required payments under this Escrow Agreement. The Escrow Agent shall have no liability for any loss sustained as a result of any investment in an investment indicated on Schedule 1 or any investment made pursuant to the instructions of the parties hereto or as a result of any liquidation of any investment prior to its maturity or for the failure of the parties to give the Escrow Agent instructions to invest or reinvest the Escrow Fund. The Escrow Agent may earn compensation in the form of short-term interest (“float”) on items like uncashed distribution checks (from the date issued until the date cashed), funds that the Escrow Agent is directed not to invest, deposits awaiting investment direction or received too late to be invested overnight in previously directed investments.

  • Delivery of Escrow Funds Upon confirmation by Escrow Agent that the following conditions have been satisfied, Escrow Agent shall disburse the Escrow Funds to Recipient in connection with the closing of the purchase of the Property or other interest therein:

  • Deposit of Escrow Shares On or before the Effective Date, each of the Initial Stockholders shall deliver to the Escrow Agent certificates representing his respective Escrow Shares, to be held and disbursed subject to the terms and conditions of this Agreement. Each Initial Stockholder acknowledges that the certificate representing his Escrow Shares is legended to reflect the deposit of such Escrow Shares under this Agreement.

  • Disbursement of Escrow Funds (a) Subject to Section 3(b) and Section 10, NCPS shall promptly disburse in accordance with the Instruction Letter the liquidated value of the Escrow Funds from the Escrow Account to Issuer by wire transfer no later than one Business Day following receipt of the following documents:

  • Resignation of Escrow Agent (1) If the Escrow Agent wishes to resign as escrow agent, the Escrow Agent will give written notice to the Issuer.

  • Deposit of Escrow Funds By its execution hereof, Recipient acknowledges that the deposit of the Escrow Funds into escrow with Escrow Agent does not confer any rights or claims to the Escrow Funds by Recipient unless all of the conditions in Section 2 above and the conditions as set forth in the Grant Agreement, have been satisfied.

  • Release of Escrow Funds The Escrow Funds shall be paid by the Escrow Agent in accordance with the following:

  • Deposit of Escrow Securities in Escrow (1) You are depositing the securities (escrow securities) listed opposite your name in Schedule “A” with the Escrow Agent to be held in escrow under this Agreement. You will immediately deliver or cause to be delivered to the Escrow Agent any share certificates or other evidence of these securities which you have or which you may later receive.

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