Initial Escrow Account definition

Initial Escrow Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Initial Escrow Account Pledge Agreement.
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Initial Escrow Account means a separate escrow account maintained by the New York branch of Citibank, N.A., into which the Settlement Amount shall be deposited by ▇▇. ▇▇▇▇▇’▇ pursuant to the terms of ¶ 6 below, and which shall be governed by the Initial Escrow Agreement and invested pursuant to the terms of the Initial Escrow Agreement. The Initial Escrow Account shall be maintained solely by the Initial Escrow Agent pursuant to the terms of the Initial Escrow Agreement.
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Initial Escrow Account means a separate escrow account maintained by the New York branch of Citibank, N.A., into which the Settlement Amount shall be deposited by the Settling Defendants pursuant to the terms of ¶ 6 below, and which shall be governed by the Initial Escrow Agreement and invested pursuant to the terms of the Initial Escrow Agreement. The Settlement Amount on deposit in the Initial Escrow Account and any earnings thereon shall remain the property of the Settling Defendants to the extent of each Settling Defendant’s funding, and each funding Settling Defendant shall be entitled to recover from the Settlement Amount and earnings thereon, Taxes, if any, payable on such earnings, any Transfer Taxes, Compliance Costs, and any banking transaction costs and banking fees related to the Initial Escrow Account and the investment of the Settlement Amount pursuant to the terms of the Initial Escrow Agreement. Except as provided for in the preceding sentence, the Settlement Amount and earnings thereon cannot be used for any purpose other than to satisfy the Settling Defendants’ obligations under this Stipulation, unless and until the Settlement is terminated pursuant to the terms of this Stipulation. The Initial Escrow Account shall be maintained solely by the Initial Escrow Agent pursuant to the terms of the Initial Escrow Agreement. The signatories to the Initial Escrow Agreement, other than counsel for the Settling Defendants, the Escrow Agent and Lead Counsel, shall be responsible for ensuring that all Taxes and Transfer Taxes, if any, on the Settlement Amount while in the Initial Escrow Account are timely paid; provided, however, that any such Taxes and Transfer Taxes, shall be paid out of the Settlement Fund.
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Examples of Initial Escrow Account in a sentence

  • At any time subsequent to the funding of the Initial Escrow Account and the preliminary approval of the Settlement by the Court, and subject to ▇▇.

  • If requested by the Trustee (in its capacity as Interest Escrow Agent), the Initial Escrow Agent shall provide wire transfer instructions to the Trustee to permit the Trustee to cause to be deposited the Interest Escrow Amount in the Initial Escrow Account pursuant to Section 1(b) of the Interest Escrow Agreement.

  • Any shares of Escrow Stock being released at the Initial Escrow Account Release Date that are Unvested Shares will be returned to Purchaser and distributed in accordance with Section 1.8(c) of the Exchange Agreement.

  • The disclosures in that model format may be combined with or included in the Initial Escrow Account Statement required in § 1024.17(g).

  • The Escrow Stock shall be retained in the Escrow Fund until the Initial Escrow Account Release Date and the Final Escrow Termination Date, as applicable.