Release of Escrowed Funds on Completion Sample Clauses

Release of Escrowed Funds on Completion. In the event that the Escrow Release Notice is delivered to the Subscription Receipt Agent at or before the Escrow Release Deadline the Corporation shall be entitled to receive from the Subscription Receipt Agent an amount equal to the Escrowed Funds less any remaining remuneration, expenses and disbursements of the Subscription Receipt Agent payable under Section 5.3 hereof. The Subscription Receipt Agent shall deliver the funds referred to in this Section 6.3 to the Corporation as soon as practicable on the Release Date.
Sample 1
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Release of Escrowed Funds on Completion. In the event that the Escrow Release Notice is delivered to the Subscription Receipt Agent on or before the Escrow Release Deadline (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent an amount equal to the Escrowed Funds, less 50% of the Agents’ Commission and any remaining remuneration, expenses and disbursements of the Subscription Receipt Agent payable under Section 5.2 hereof payable to the Corporation or as otherwise directed by the Corporation in the Escrow Release Notice, and (ii) the Agents shall be entitled to receive from the Subscription Receipt Agent, an amount equal to 50% of the Agents’ Commission payable to the Lead Agent on behalf of the Agents or as otherwise directed by the Lead Agent in the Escrow Release Notice. The Subscription Receipt Agent shall deliver the funds referred to in this Section 6.3 to the Corporation and the Lead Agent on behalf of the Agents, respectively (or as directed by the Corporation or the Lead Agent, as applicable) as soon as practicable on the Release Date.
Sample 1
Release of Escrowed Funds on Completion. ‌ In the event that the Escrow Release Notice is delivered to the Subscription Receipt Agent at or before the Escrow Release Deadline the Corporation shall be entitled to receive from the Subscription Receipt Agent an amount equal to the Escrowed Funds, less any remaining remuneration, expenses and disbursements of the Subscription Receipt Agent payable under Section 5.3 hereof. The Subscription Receipt Agent shall deliver the Escrowed Funds referred to in this Section 6.3 to the Corporation as directed by the Corporation as soon as practicable, and in any event, within one Business Day following receipt of the Escrow Release Notice.
Sample 1
Release of Escrowed Funds on Completion. In the event that the Escrow Release Notice is delivered to the Subscription Receipt Agent at or before the Escrow Release Deadline (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent an amount equal to the Escrowed Funds, less the Balance of the Agents’ Commission and Expenses and any remaining remuneration, expenses and disbursements of the Subscription Receipt Agent payable under Section 5.4 hereof, and (ii) the Agents shall be entitled to receive from the Subscription Receipt Agent the Balance of the Agents’ Commission and Expenses. The Subscription Receipt Agent shall deliver the funds referred to in this Section 6.3 to the Corporation and the Lead Agent (on behalf of the Agents), respectively (or as directed by the Corporation or the Lead Agent, as applicable) as soon as practicable on the Release Date.
Sample 1
Release of Escrowed Funds on Completion. In the event that the Escrow Release Notice is delivered to the Subscription Receipt Agent at or before the Escrow Release Deadline (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent an amount equal to the Escrowed Funds, less 50% of the Agents' Commission (and any Earned Interest thereon), less 50% of the Advisory Fee (and any Earned Interest thereon), less the Escrowed Expenses, and any remaining remuneration, expenses and disbursements of the Subscription Receipt Agent payable under Section 5.3 hereof, and (ii) the Lead Agent and the Lead Advisor, as applicable, shall be entitled to receive from the Subscription Receipt Agent, 50% of the Agents' Commission (and any Earned Interest thereon), 50% of the Advisory Fee (and any Earned Interest thereon) and the Escrowed Expenses. The Subscription Receipt Agent shall deliver the funds referred to in this Section 6.3 to the Corporation, the Lead Agent and the Lead Advisor, respectively (or as directed by the Corporation, the Lead Agent or the Lead Advisor, as applicable) as soon as practicable on the Release Date.
Sample 1

Related to Release of Escrowed Funds on Completion

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

  • Release of Escrow Subject to the provisions of Section 4.2, the Escrow Agent shall release the Company Documents and Subscriber Documents as follows:

  • Release of Escrow Securities (1) When an emerging issuer becomes an established issuer, the release schedule for its escrow securities changes.

  • Initial Escrow Amount; Issuance of Escrow Receipts The Escrow Agent hereby directs the Underwriters to, and the Underwriters hereby acknowledge that on the date hereof they shall, irrevocably deliver to the Depositary on behalf of the Escrow Agent, an amount in U.S. dollars (“Dollars”) and immediately available funds equal to $578,712,000 for deposit on behalf of the Escrow Agent with the Depositary in accordance with Section 2.1 of the Deposit Agreement. The Underwriters hereby instruct the Escrow Agent, upon receipt by the Depositary of such sum from the Underwriters, to confirm such receipt by executing and delivering to the Pass Through Trustee an Escrow Receipt in the form of Exhibit A hereto (each, an “Escrow Receipt” and, collectively, the “Escrow Receipts”) (a) to be affixed by the Pass Through Trustee to each Certificate and (b) to evidence the same percentage interest (the “Escrow Interest”) in the Account Amounts (as defined below) as the Fractional Undivided Interest in the Pass Through Trust evidenced by the Certificate to which such Escrow Receipt is to be affixed. The Escrow Agent shall provide to the Pass Through Trustee for attachment to each Certificate newly issued under and in accordance with the Pass Through Trust Agreement Escrow and Paying Agent Agreement (Class AA) (American Airlines 2019-1 Aircraft EETC) an executed Escrow Receipt as the Pass Through Trustee may from time to time request of the Escrow Agent. Each Escrow Receipt shall be registered by the Escrow Agent in a register (the “Register”) maintained by the Escrow Agent in the name of the same holder that is the holder of the Certificate to which such Escrow Receipt is attached and may not thereafter be detached from such Certificate to which it is to be affixed. No Escrow Receipt may be assigned or transferred except in connection with the assignment or transfer of the Certificate to which such Escrow Receipt is affixed. After the termination of the Deposit Agreement (or, if applicable, any Replacement Deposit Agreement), no additional Escrow Receipts shall be issued and the Pass Through Trustee shall request the return to the Escrow Agent for cancellation of all outstanding Escrow Receipts.

  • Release from Escrow (1) The Shareholder irrevocably directs the Escrow Agent to retain the Shares until the Shares are released from escrow pursuant to subsection (2) or surrendered for cancellation pursuant to section 8.

  • 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.

  • 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:

  • 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.

  • 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:

  • Release of Required Repair Funds Lender shall disburse to Borrower the Required Repair Funds from the Required Repair Account from time to time upon satisfaction by Borrower of each of the following conditions: (i) Borrower shall submit a written request for payment to Lender at least fifteen (15) days prior to the date on which Borrower requests such payment be made and specifies the Required Repairs to be paid, (ii) on the date such request is received by Lender and on the date such payment is to be made, no Default or Event of Default shall exist and remain uncured, (iii) Lender shall have received a certificate from Borrower (A) stating that all Required Repairs at the Property to be funded by the requested disbursement have been completed in good and workmanlike manner and in accordance with all applicable federal, state and local laws, rules and regulations, such certificate to be accompanied by a copy of any license, permit or other approval by any Governmental Authority required to commence and/or complete the Required Repairs, (B) identifying each Person that supplied materials or labor in connection with the Required Repairs performed at the Property to be funded by the requested disbursement under a contract in excess of $50,000, and (C) stating that each Person who has supplied materials or labor in connection with the Required Repairs to be funded by the requested disbursement has been paid in full or will be paid in full upon such disbursement, such certificate to be accompanied by lien waivers or other evidence of payment satisfactory to Lender, (iv) at Lender’s option, a title search for the Property indicating that the Property is free from all liens, claims and other encumbrances not previously approved by Lender, and (v) Lender shall have received such other evidence as Lender shall reasonably request that the Required Repairs at the Property to be funded by the requested disbursement have been completed and are paid for or will be paid upon such disbursement to Borrower. Lender shall not be required to make disbursements from the Required Repair Account with respect to the Property more than once each calendar month and such disbursement shall be made only upon satisfaction of each condition contained in this Section 7.1.2.

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