Escrow Money definition

Escrow Money means collectively the Initial Escrow Money and the Escrow Stock and the proceeds thereof, including, interest earned thereon, if any, while held by the Escrow Agent. The term “Escrow Money” shall also mean the additional shares of stock of Purchaser, if any, deposited with the Escrow Agent in accordance with the last sentence of Section 20(a) of the Asset Purchase Agreement, together with any amounts earned thereon (which additional stock shall also be considered as Escrow Stock for purposes hereof).
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Escrow Money shall also mean the additional shares of stock of Purchaser, if any, deposited with the Escrow Agent in accordance with the last sentence of Section 20(a) of the Asset Purchase Agreement, together with any amounts earned thereon (which additional stock shall also be considered as Escrow Stock for purposes hereof).
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Escrow Money initially has the meaning ascribed thereto in Section 2.4(b) and after Closing means the monies held by the Escrow Agent from time to time pursuant to The Escrow Agreement;
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Examples of Escrow Money in a sentence

  • If the property is damaged, by fire or other casualty, after the Effective Date and before the Closing, the Seller will bear the risk of loss and the Buyer may cancel this Agreement without liability and the Escrow Money shall be returned to the Buyer.

  • Deposit the Escrow Money with the clerk of the court having jurisdiction over the matter and file an action in interpleader.

  • Furthermore, if any part of the Property, after the Effective Date and before the Closing, is taken in condemnation or under the right of eminent domain, or proceedings for such taking are pending or threatened, the Buyer may cancel this Agreement without liability and the Escrow Money will be returned to the Buyer.

  • Seller’s entitlement to and receipt of the Escrow Money is intended not as a penalty, but as full and complete liquidated damages.

  • The Parties agree that the Escrow Agent will not be liable to any person for misdelivery of Escrow Money to the Buyer and the Seller, unless the misdelivery is due to the Escrow Agent's willful breach of this Agreement or gross negligence.

  • If the sale and purchase of the Property contemplated by this Agreement is not consummated on account of Seller’s default or failure to perform hereunder, Buyer may, at Buyer’s option and as its sole remedy, elect to either: (i) specifically enforce the terms hereof; or (ii) demand and be entitled to an immediate refund of the Escrow Money, in which case this Agreement shall terminate in full.

  • In the event Buyer provides said notice of termination, Seller and any Escrow Agent shall be obligated to return the Escrow Money to the Buyer as provided in Section V hereof, and neither party shall have any further rights or obligations under this Agreement.

  • If the sale and purchase of the Property contemplated by this Agreement is not consummated on account of Buyer's default hereunder, Seller shall be entitled, as its sole and exclusive remedy hereunder, to receipt of the Escrow Money amount as full and complete liquidated damages for such default of Buyer.

  • In any suit in which Escrow Agent interpleads the escrowed items or is made a party because of acting as Escrow Agent hereunder, Escrow Agent will recover reasonable attorneys’ fees and costs incurred, with these amounts to be paid from and out of the Escrow Money and charged and awarded as court costs in favor of the prevailing party.

  • In any suit in which Xxxxxx Agent interpleads the escrowed items or is made a party because of acting as Escrow Agent hereunder, Xxxxxx Agent will recover reasonable attorneys’ fees and costs incurred, with these amounts to be paid from and out of the Escrow Money and charged and awarded as court costs in favor of the prevailing party.


More Definitions of Escrow Money

Escrow Money shall have the meaning set forth in Section 1 hereof.
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Escrow Money has the same meaning as defined in clause 2.4 of the 65.4% SPA;
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Escrow Money means the Deposit plus all interest accrued thereon.
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Escrow Money has the meaning ascribed thereto in Section 2.4(b);
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Escrow Money shall be understood to mean the above-referenced cash Escrow Money deposit and the proceeds therefrom. If Buyer defaults under this Contract and Sellers are not in default, Sellers shall be entitled to receive on a prorata basis the Earnest Money as liquidated daxxxxx xs provided in this Contract. If a Seller defaults under this Contract, or if any of Buyer's conditions to Closing are not satisfied, Buyer shall be entitled to receive a return of the Earnest Money as provided in txxx Xxxtract. In the event of any dispute between a Seller and Buyer concerning disbursement of the Earnest Money, the Title Compaxx xxxxl be authorized to file an interpleader suit in the District Court of the county in which the Property is located, and the disposition of such funds shall be determined in accordance with such proceeding, and the Title Company shall be released of all further liability with respect to such Earnest Money.
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Related to Escrow Money

  • Escrow Deposit shall have the meaning set forth in Section 2.2(a).

  • E-Money means electronic money as defined in the SI No. 183/2011 – European Communities (Electronic Money) Regulations 2011.

  • Xxxxxxx Money shall have the meaning assigned thereto in Section 2.3.

  • Retention Money means the aggregate of amount retained by the Employer as Security Deposit.

  • Escrow means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or non-happening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. Escrow includes subdivision trusts and account servicing.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Escrow Agreement means the escrow agreement entered into prior to the date hereof, by and among the Company, the Escrow Agent and the Placement Agent pursuant to which the Purchasers shall deposit Subscription Amounts with the Escrow Agent to be applied to the transactions contemplated hereunder.

  • Escrow Deposit Agreement means the agreement provided for in Section 4.02(a) of this Resolution.

  • Xxxxxxx Money Deposit shall have the meaning set forth in Section 2.5(a).

  • Public money means any funds or money obtained from any governmental entity, including, but not limited to, research grants.

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Escrowed Property has the meaning set forth in the Escrow Agreement.

  • Escrow Agreements means one or more of the agreements between the Company, the Partnership and one or more of the Performance Investors, dated as of the closing of the date of the initial public offering of the common stock of the General Partner, pursuant to which the Performance Investors have deposited their Performance Shares in escrow for possible transfer to the General Partner or the Partnership (as applicable).

  • Escrowed Funds Has the meaning, with respect to any Trust, specified in Section 2.02(b).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Fund has the meaning ascribed to it in Section 7.2(a).

  • Escrow Agent has the meaning set forth in Section 2.1(c).

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

  • Client Money means the provisions of the FCA’s Client Assets Sourcebook relating to client money.

  • The Escrow Agent s responsibilities as escrow agent hereunder shall terminate if the Escrow Agent shall resign by written notice to the Company and the Purchaser. In the event of any such resignation, the Purchaser and the Company shall appoint a successor Escrow Agent.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Obligation will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance.

  • Escrow Property means the Escrow Funds and the Certificates delivered to the Escrow Agent as contemplated by Section 1(c) hereof.

  • Escrow Receipt Means the receipt substantially in the form annexed to the Escrow Agreement representing a fractional undivided interest in the funds held in escrow thereunder.

  • Escrow Cash is defined in Section 4.1(a).

  • In-the-Money means, in respect of any Component, that the Relevant Price on the Expiration Date for such Component is greater than the Strike Price for such Component.