Withdrawals of Escrow Principal Generally Prohibited. i. The NPM Statute and state law(s) and regulation(s) of each Beneficiary State govern the release of QEF Principal from the applicable Beneficiary State’s QEF Sub-Account. This includes, but is not limited to, prohibiting the Escrow Agent and the Company from: (a) accessing or allowing the Company to access any QEF Principal without establishing compliance with both the terms and conditions of the Escrow Agreement and the NPM Statute of each Beneficiary State; (b) exercising set-off, recoupment, or any other claim or right against any of the QEF Principal escrowed pursuant to this Escrow Agreement; or (c) transferring or removing any QEF Principal from the QEF Sub-Account of any Beneficiary State Principal to the QEF Sub-Account of another Beneficiary State without the written consent of the Company and the Attorneys General of all Beneficiary States involved in the request for transfer of funds.
Appears in 9 contracts
Samples: Approved Tobacco Escrow Agreement, Approved Tobacco Escrow Agreement, Approved Tobacco Escrow Agreement
