Escrow Account definition
Examples of Escrow Account in a sentence
Any disbursement of amounts from the Adjustment Escrow Account or the Indemnity Escrow Account pursuant to Section 2.4 or Section 9.2(h), respectively, shall be made promptly upon the final determination of the amounts thereof and, in all cases, pursuant to the terms of the Escrow Agreement.
The Escrow Account shall be used solely for holding subscription funds received from investors in connection with the Offering, pending release or return in accordance with this Agreement.
For the avoidance of doubt, the remaining Earnout Escrow Amount that have not yet been released pursuant to this Section 1.02(h) shall remain in the Earnout Escrow Account until released following the Applicable Earnout Payment Date or Retention Payment Date in accordance with this Section 1.02(h).
All subscription funds shall be wired directly by investors into the Escrow Account in accordance with written wire instructions provided by the Escrow Agent.
Funds deposited into the Escrow Account shall not be commingled with any other funds of the Company, the Escrow Agent, or any third party.