Escrow Bank has the meaning specified in Section 2.15(c).

Escrow Bank means a Scheduled Bank as defined under Section 2(e) of the Reserve Bank of India Act, 1934 having a net worth of at least ` 1,000 Crore (Rupees One Thousand Crore), with which the Escrow Account is opened and maintained by the Developer;

Escrow Bank shall have the meaning set forth in Clause 13.1.1; "Escrow Default" shall have the meaning set forth in Schedule-E;

Examples of Escrow Bank in a sentence

Prior to Intermediary initiating an Offering, and prior to the receipt of the first Subscription Funds, Escrow Bank shall establish an account which shall be a segregated, deposit account for an Issuer at the Escrow Bank for each Offering.
The Intermediary further grants Escrow Bank and Royalton a right of set-off and a security interest against the Escrow Funds for the payment of any claim for indemnification, expenses or compensation due under this Agreement.
Escrow Bank has the right in Escrow Bank’s sole discretion to not accept appointment as Escrow Agent and reject any funds and collateral from the Intermediary in the event that Escrow Bank has reason to believe that such funds or collateral violate applicable banking practices or applicable laws or regulations, including the Patriot Act.
Escrow Bank may resign and be discharged of all duties and obligations under this Agreement by providing thirty (30) days written notice of such resignation to Royalton and Intermediary.
Xxxxxxxx and Intermediary shall indemnify and hold harmless Escrow Bank against and in respect to liability for taxes and/or any penalties or interest attributable to the investment of the Escrow Funds by Escrow Bank pursuant to this Agreement.

More Definitions of Escrow Bank

Escrow Bank shall have the meaning as set forth in Schedule 9;

Escrow Bank means as set forth in Article 20.1;

Escrow Bank means Skandinaviska Enskilda Banken AB (publ).

Escrow Bank shall have the meaning set forth in Article 24;

Escrow Bank shall have meaning set forth in Clause 26.1.1