Escrow Obligation definition
Examples of Escrow Obligation in a sentence
If such efforts are unsuccessful and the amount of the escrow deposit that the Sellers are required to make for such MSA State exceeds the Sellers' Closing Year Escrow Obligation for such MSA State, then such excess amount will represent an Assumed Liability and Purchaser shall promptly pay such excess amount into the escrow account maintained by the Sellers with respect to such MSA State.
The Sellers and Purchaser shall, upon determination of the Sellers' Closing Year Escrow Obligation for each MSA State in accordance with this Section 5.7, cooperate to cause the Escrow Agent to promptly deliver to each MSA State, to the extent of the funds remaining in the escrow account maintained in accordance with the Post-Closing Escrow Agreement, the funds necessary to satisfy the Sellers' Closing Year Escrow Obligation for such MSA State.
On or prior to April 1, 2004, the Sellers shall notify the office of the Attorney General of each MSA State not providing Cut-off Period Data of the Sellers' calculation of the Sellers' Closing Year Escrow Obligation with respect to such MSA State and of Sellers' intention to make escrow deposits of such amount for sale of the Brand cigarettes by the Sellers in such MSA States during the Closing Year and shall request that such MSA State confirm the sufficiency of such escrow deposit.
Purchaser shall cooperate with the Sellers to cause the Escrow Agent promptly to release to the Sellers any amounts remaining in such escrow account after the Sellers have satisfied (including by payments from such escrow account) the Sellers' Closing Year Escrow Obligation for each MSA State.
If such efforts are unsuccessful and the amount of the escrow deposit that the Sellers are required to make for such MSA State is less than the Sellers' Closing Year Escrow Obligation for such MSA State, then the amount of such deficit will represent an Excluded Liability and the Sellers shall promptly pay such excess amount into the escrow account maintained by Purchaser with respect to such MSA State.
Any interval investment between maturity date of any Escrow Obligation and the next payment date on the Refunded Bonds shall not exceed the yield specified in the Verification Report as last revised.
MB, Acquiror Bank or Representative may, from time to time after the initial deposit of the Aggregate Escrow Obligation, deposit additional sums into the Escrow Account, which such sums shall also be considered to be Escrowed Funds.
Concurrently with the Closing, each Principal Stockholder shall deposit an amount equal to such Principal Stockholder’s Individual Escrow Obligation into the Escrow Account, which will, in the aggregate, with the amounts deposited by all Principal Stockholders, secure the payment of any Restitution Payment.
You authorize and instruct the Company to charge your Account to pay any Escrow Obligation that arises in connection with and pursuant to the terms of each Escrow and to deduct any Company Obligations that are submitted or assessed in compliance with this Agreement or the Included Agreements, including those that arise in connection with the Escrow.
Until the Escrow Termination Date, each Principal Stockholder shall maintain in the Escrow Account an amount equal to such Principal Stockholder’s Individual Escrow Obligation, as such Individual Escrow Obligation may be adjusted in accordance with the terms hereof; provided, however, that no Principal Stockholder shall be obligated to deposit additional amounts to the Escrow Account following the initial deposit of such Principal Stockholder’s Individual Escrow Obligation concurrent with the Closing.