Examples of Escrow Fund in a sentence
From time to time the Company shall tender to the Escrow Agent for deposit in the QEF Account the funds that the Company is required to place into a Qualified Escrow Fund pursuant to the NPM Statute of each Beneficiary State.
Such moneys in the Escrow Fund, will be sufficient to pay the interest on, and the redemption price of, the Refunded Bonds, as shown in the Escrow Fund Cash Flow set forth in Schedule C hereto.
The Escrow Bank shall receive its reasonable fees and expenses as previously agreed to; provided, however, that under no circumstances shall the Escrow Bank be entitled to any lien nor will it assert a lien whatsoever on any moneys or obligations in the Escrow Fund for the payment of fees and expenses for services rendered by the Escrow Bank under this Agreement.
Except as otherwise provided in this Section, the Escrow Bank shall not reinvest any cash portion of the Escrow Fund and shall hold such cash portion uninvested.
The Escrow Bank acknowledges that upon the funding of the Escrow Fund as provided in this Agreement and the receipt of the Verification Report described in Section 1(b) of this Agreement, it is in receipt of the items constituting all of the conditions precedent to the defeasance of the Refunded Bonds under the Resolution.