Escrow Statement definition

Escrow Statement means that accounting of the proceeds of the
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Escrow Statement. The DDA shall provide the development partner with an escrow account statement reflecting the available $100,000 upon the execution of this contract.
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Escrow Statement shall set forth with respect to the period covered thereby (A) the balance of the Escrow Funds (the “Escrow Balance”) as of the beginning of such period, (B) the Escrow Balance as of Table of Contents the end of such period, (C) the amount of each release of Escrow Funds to the Buyer under Section 4(b) and to the Parent under Section 4(c), 4(d) or 4(e) during such period (and the identity of the Buyer Certificate or Tax Certificate with respect to which each such release related, if applicable), (D) the aggregate amount of interest and income earned on the Permitted Investments of the Escrow Funds during such period and (E) the aggregate of all Demand Amounts (as defined below) previously submitted to the Escrow Agent with respect to which the Escrow Agent had neither released Escrow Funds to the Buyer in accordance with Section 4(b)(ii) nor received a Determination (as defined below) under Section 4(b)(iii) (“Pending Demand Amounts”) as of the end of such period. Although the Buyer and the Parent each recognize that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, within three business days following any securities transaction in the escrow account, and which reflects the amount of the agency fee, the Buyer and the Parent hereby agree that confirmations of Permitted Investments are not required to be issued by the Escrow Agent for each month in which a monthly statement is rendered. The Buyer and the Parent acknowledge and agree that the disbursement and release of Escrow Funds on any particular date is subject to the sale and final settlement of Permitted Investments. Proceeds of a sale of Permitted Investments will be delivered on the business day on which the appropriate instructions are delivered to the Escrow Agent if received prior to the applicable deadline for same day sale of such Permitted Investments. If such instructions are received after the applicable deadline, proceeds will be delivered on the next succeeding business day.
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Examples of Escrow Statement in a sentence

  • The Escrow Agent shall send an Escrow Statement to each of the Buyer and the Parent on a monthly basis reflecting activity in the escrow account for the preceding month.

  • The Escrow Agent shall promptly release to the Parent all remaining Escrow Funds it then holds less an amount equal to the aggregate of all Pending Demand Amounts, as set forth on such Escrow Statement, which Pending Demand Amounts shall be retained by the Escrow Agent until released in accordance with Section 4(b)(i), 4(b)(ii) or 4(b)(iii), as applicable.

  • Within five business days following December 31, of each calendar year prior to the Escrow Termination Date, the Escrow Agent shall deliver to each of the Buyer and the Parent an Escrow Statement with respect to such calendar year.

  • Within five business days of the end of each calendar quarter prior to the termination of this Escrow Agreement, (i) the Escrow Agent shall deliver to each of the Buyer and the Parent an Escrow Statement with respect to such period and (ii) the Escrow Agent shall deliver to the Parent the aggregate amount of interest and income earned on the Permitted Investments of the Escrow Funds during such period, as set forth on such Escrow Statement.

  • Within three (3) business days following the delivery of each Escrow Statement, the Buyer shall notify the Seller and the Escrow Agent in writing (the "Buyer Notification") as to whether the funds deposited in the Lock Box were payments of a Closing Receivable or an account receivable from an account comprising the Closing Receivables generated post closing (a "New Receivable").

  • If Boyd ▇▇▇iana does not submit any Company Escrow Statement during the period referred to in the preceding sentence, the amount of Company Reimbursable Losses shall be deemed to be Zero and No/100 Dollars ($0.00).

  • In the event that ACTV agrees with the determination of the Escrow Payments payable or does not object to the determination set forth in the Escrow Statement within thirty (30) days after receipt of the Escrow Statement, the Escrow Agent shall distribute the Escrow Payment as soon as practicable.

  • As soon as practicable following the fifth anniversary of the Closing Date (the “Escrow Termination Date”), the Escrow Agent shall deliver to each of the Buyer and the Parent an Escrow Statement with respect to the period beginning on the date of the last Escrow Statement and ending on the Escrow Termination Date.

  • The Escrow Statement and the underlying financial statements shall be prepared in accordance with GAAP.

  • Following settlement by arbitration, the Arbitrator shall distribute to TriZetto, the Representative and the Escrow Agent written instructions regarding the appropriate revisions to the Escrow Statement.