Escrow definition

Escrow means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or non-happening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. Escrow includes subdivision trusts and account servicing.

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Escrow means an escrow, trust, collateral or similar account or arrangement holding proceeds of Indebtedness solely for the benefit of an unaffiliated third party.

Escrow has the meaning set forth in the definition of “Indebtedness”.

Examples of Escrow in a sentence

The additional provisions and information set forth on Exhibit A are hereby incorporated by this reference, and form a part of this Escrow Agreement.
The Parties agree that closing the transaction described herein shall be completed through an expedited closing process whereby RITE will deliver to the Escrow Agent the documents specified in section 4(a) of this Definite Agreement and NMC will deliver to the Escrow Agent the documents specified in section 4(b) of this Definitive Agreement.
To the extent any provision of this Escrow Agreement is prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Escrow Agreement.
Services in addition to and not contemplated in this Escrow Agreement, including, but not limited to, document amendments and revisions, non-standard cash and/or investment transactions, calculations, notices and reports, and legal fees, will be billed as extraordinary expenses and capped at $5,000.
Promptly upon receipt, the Escrow Agent will review the documents received from each Party for sufficiency and accuracy, and upon satisfaction, accept and process the documents pursuant to the terms, conditions and instructions set forth in the Escrow Agreement, specifically including the instructions contained in section 2(a) of said Escrow Agreement.

More Definitions of Escrow

Escrow means an escrow established with an independent escrow agent pursuant to an escrow agreement reasonably satisfactory in form and substance to the Person or Persons asserting the obligation of one or more Borrowers to make a payment to it or them hereunder.

Escrow has the meaning set forth in Section 3.1 hereof.

Escrow means the escrow established pursuant to the Escrow Agreement.

Escrow means a legal document (such as Source Code) delivered by Contractor to a third party escrow agent (“Escrow Agent”), and held by Escrow Agent until Procuring Agency Accepts one or more the Deliverables; in the event Contractor Defaults this Agreement, Procuring Agency will receive the legal document, e.g., Source Code, from Escrow Agent.

Escrow has the meaning set forth in Section 5.4(e).

Escrow shall have the meaning given thereto in Section 4 hereof.

Escrow means written instruments, money or other items deposited by one party with a settlement