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.

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 given in the Escrow Agreement.

Examples of Escrow in a sentence

• Following the Domestication and at the Closing, Sponsor shall place fifty percent (50%) of the shares of Parent Class A Common Stock held by Sponsor as “Founder Shares” (as defined in the Sponsor Letter Agreement) (the “Escrowed Sponsor Shares”) in escrow with the Exchange Agent or another escrow agent mutually agreed upon among Parent, the Company and Sponsor and which shall be held in escrow pursuant to the terms of the Incentive Merger Consideration Escrow Agreement.

• The Prepaid Tuition Trust Escrow Fund, which was previously authorized by §18-30-6 of this code, is continued in the State Treasury to guarantee payment of outstanding obligations of the Prepaid Tuition Plan arising after the plan’s closure.

• B) Escrow terms The Placement Shares are subject to the voluntary escrow as follows: • 50% of the relevant tranche of Placement Shares will be released from escrow on the earlier to occur of: o 12 months from the issue date; ando in respect of a Strategic Partner, the date on which that Strategic Partner has satisfied two-thirds of its Revenue Target under its respective Strategic Agreement (as described below).

• Termination under this clause triggers the provisions in section 6.1.2, Escrow.

• The Prepaid Tuition Trust Escrow Fund shall consist of any moneys in the fund on the effective date of this section.

More Definitions of Escrow

Escrow means a legal document (such as the software source code) delivered by the Contractor into the hands of a third party, and to be held by that party until the performance of a condition is Accepted; in the event Contractor fails to perform, the Procuring Agency receives the legal document, in this case, Source Code.

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

Escrow means an escrow opened with the Escrow Holder for the purchase and sale of the Property in accordance with the provisions of this Agreement.

Escrow has the meaning set forth in Section 3.1 hereof.

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 5.4(e).

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.