Escrow Agent definition
Examples of Escrow Agent in a sentence
The Closing shall occur through an escrow with Escrow Agent, whereby Sellers, Purchaser and their attorneys need not be physically present at the Closing and may deliver documents by overnight air courier or other means.
The balance of the Allocated Purchase Price for each Property (as adjusted for prorations, credits, and reimbursements as set forth in this Contract or as otherwise adjusted pursuant to Section 2.2.6) shall be paid to and received by Escrow Agent by wire transfer of Good Funds no later than 4:00 p.m. (Eastern Standard Time) on the applicable Closing Date.
If Escrow Agent does not receive a written objection from the other party to the proposed payment within 5 Business Days after the giving of such notice, Escrow Agent is hereby authorized to make such payment.
Escrow Agent shall not commingle the Deposit with any other funds.
Escrow Agent shall give written notice of such deposit to Seller and Purchaser.