Escrow Arrangement definition

Escrow Arrangement means an arrangement whereby the proceeds of the Loans are funded and/or transferred to one or more bank accounts of the Borrower or one or more wholly-owned Subsidiaries of the Borrower pursuant to irrevocable instructions given to the depositary bank in each instance that (i) the Borrower or such Subsidiary shall only be permitted to disburse such funds (x) in connection with foreign exchange transactions in connection with the Transactions; provided that the proceeds of any such foreign exchange transactions are deposited in bank accounts pursuant to the irrevocable instructions to the applicable depositary bank described in this definition and (y) to the Depositary and other payees pursuant to Section 6.03(3) of the Arrangement Agreement and (ii) require it to return such funds to the Administrative Agent on the third Business Day following the funding of the Loans unless such funds shall have been disbursed as permitted by clause (i)(y) of this definition on or prior to such date; provided that (A) amounts so returned to the Administrative Agent shall be in United States dollars (converted if necessary by the depositary bank from the currency in which they are then held) and (B) any currency exchange gains or losses shall be for the sole account of the Borrower and shall not affect its obligations to repay the Loans in accordance with Section 2.05. The Escrow Arrangement shall be documented in a manner reasonably satisfactory to the Administrative Agent.

Escrow Arrangement has the meaning set out in Section 4.7;

Escrow Arrangement means an agreement between the Provider and the National Computing Centre (“NCC”) for the benefit of the Commissioner for current version of the source code of software, on the basis of the appropriate NCC standard terms approved by the Commissioner;

Examples of Escrow Arrangement in a sentence

• As a payment security measure DISCOM will have to maintain LC and Escrow Arrangement as defined in the PPA.

• Further, State Utilities/Discoms will have to maintain LC and Escrow Arrangement as may be defined in the PSA.

• Based on the above and in the light of the Escrow Arrangement, the Manager to the Offer is satisfied that firm arrangements have been put in place by the Acquirers to fulfill the Acquirers’ obligations through verifiable means in relation to the Offer in accordance with the SEBI (SAST) Regulations.

• The Escrow Arrangement shall be maintained until the earlier of (A) eighteen (18) months after the occurrence of the first event constituting a Change in Control or (B) the payment to Executive of the Parachute Amount pursuant to the provisions of Subparagraph 8(b)(i).

• Based on the above and in the light of the Escrow Arrangement, the Manager to the Offer is satisfied that firm arrangements have been put in place by the Acquirer to fulfill the Acquirer’s obligations through verifiable means in relation to the Offer in accordance with the Regulations.

More Definitions of Escrow Arrangement

Escrow Arrangement means any agreement pertaining to shares required to be escrowed pursuant to any policy or requirement of the BC Securities Commission, the Exchange or equivalent regulatory authority having jurisdiction over the Issuer;

Escrow Arrangement means a written or oral agreement under which money, documents, instruments or other property is delivered to a person to be held by that person for disbursement or delivery in accordance with the agreement of the parties upon (A) the happening of a certain specified event or events, or (B) the delivery to the escrow holder of money, documents, instruments or other specified property with a subsequent disbursement or delivery of such money, documents, instruments or other specified property received by the escrow holder in accordance with the agreement of the parties.

Escrow Arrangement means the execution by the Parties and the Escrow Agent of the Escrow Agreement and the deposit of the full amount of the Escrow Cash by the Purchaser in the Escrow Account no later than two (2) Business Days prior to the Closing Date.

Escrow Arrangement has the meaning set out in Section 3.4;

Escrow Arrangement means an agreement between the Provider and the National

Escrow Arrangement means an escrow or similar arrangement in form and substance satisfactory to the Administrative Agent, pursuant to which funds are irrevocably deposited in an amount sufficient to redeem the NBD Subordinated Notes in full.

Escrow Arrangement means an agreement between the Provider and the National Computing Centre (“NCC”) or other similar body for the benefit of the Commissioner for the current version of the source code of software, on the basis of the appropriate NCC or other similar body’s standard terms approved by the Commissioner;