Escrowed Items definition
Examples of Escrowed Items in a sentence
Proceeds received from subscribers will be deposited into the Escrow Account, as defined below, (the Proceeds collectively with the Escrowed Documents hereinafter are referred to as "Escrowed Items").
Items — If the Escrow Agent shall receive a duly executed Release Certificate within the Escrow Period, then without any further or other act or formality on the part of any party hereto, the Escrow Agent shall release the Escrowed Items to the Transaction Parties as noted on Schedule "D" attached hereto.
In the event of such termination, the Pledgee and Pledgor agree that they will jointly appoint a successor escrow agent at or before the time such notice becomes effective, and the Escrow Agent hereby agrees that it shall turn over and deliver the Escrowed Items to such successor escrow agent.
Upon delivery of the Escrowed Items, the Escrow Agent shall be discharged of any further duties under this Escrow Agreement.
If joint written instructions for all of the Escrowed Items are not provided to the Escrow Agent prior to the six (6) month year anniversary of execution of this Agreement and the Escrow Agent has not received a copy of any notice of a Claim from Pledgee under Section 8.2 of the Asset Purchase Agreement, the Escrow Agent shall deliver any remaining Escrowed Items to Pledgor.
Items -The Transaction Parties hereby acknowledge that the Escrowed Items have been deposited in escrow with the Escrow Agent, all pursuant to the terms and conditions of this Agreement.
Purchaser and Seller shall have the right, but shall not be obligated to, execute and deliver to Escrow Agent jointly, at the effective time of each such merger, replacement Escrowed Items in the name of each surviving corporation described in the preceding sentence, to be held in escrow hereunder, in place and instead of any Escrowed Items.
The Escrow Agent shall hold the Escrowed Items in escrow pursuant to this Agreement.
This Escrow Agreement shall terminate when the Escrowed Items shall have been distributed as above provided subject to the provisions of Section 4 which shall survive any such termination.
The Escrow Agent undertakes to perform only such duties as are expressly set forth herein, which duties, as hereinabove set forth in Sections 1, 2 and 3 hereof, shall terminate upon the release of the Escrowed Items as contemplated above.