Offshore Escrow Account definition

Offshore Escrow Account. ’ means the offshore cash escrow account opened pursuant to
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Offshore Escrow Account means an escrow account denominated in RMB that is opened in the Buyer's name at The Hongkong and Shanghai Banking Corporation (Hongkong office) in accordance with the Offshore Escrow Agreement.
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Offshore Escrow Account means an escrow account denominated in RMB that is opened in the Buyer's name at The Hongkong and Shanghai Banking Corporation (Hongkong office) in accordance with the Offshore Escrow Agreement. “Offshore Escrow Agent” shall mean The Hongkong and Shanghai Banking Corporation (Hongkong office). “Offshore Escrow Agreement” shall mean the escrow agreement in the form agreed and set out in Part 1 of Exhibit N. “Onshore Escrow Account” shall mean a "designated RMB account for mergers and acquisitions transaction" opened in the Seller's name at HSBC Bank (China) Company Limited (Shanghai branch), which has been duly approved by the People's Bank of China and/or SAFE to: (a) receive the Offshore Escrow Agent's remittance of the First Tranche Payment, and (b) hold the Indemnity Escrow Amount in accordance with the Onshore Escrow Agreement. “Onshore Escrow Agent” shall mean HSBC Bank (China) Company Limited. “Onshore Escrow Agreement” shall mean the escrow agreement in the form agreed and set out in Part 2 of Exhibit N. “Owned Real Properties” shall have the meaning set forth in Article 8.2(b)(i). “Parties” and “Party” shall have the meaning set forth in the Preamble. “Permits” shall mean all permits, licenses, concessions, grants, franchises, registrations, variances, authorizations, consents, orders, certificates, inspections, certifications and/or approvals required by and/or otherwise made available by any Governmental Authority. “Personal Properties” shall have the meaning set forth in Article 8.2(c). “Personal Properties Audit List" shall have the meaning set forth in Article 4.4(b). “Post-Closing Adjustment Amount” shall mean an amount (positive or negative) equal to the sum of:
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Examples of Offshore Escrow Account in a sentence

  • For clarity, the Company, Ucommune and the Founders Group shall ensure that the balance of the fund in both of the RMB Escrow Account and the Offshore Escrow Account shall at any time and at all times be no less than the then outstanding amount of the Loan and any accrued but unpaid interest thereof.

  • The Company shall ensure that any future release of funds from the Offshore Escrow Account shall be subject, in all cases, to the terms and conditions of the Offshore Escrow Agreement.

  • Upon the written request and at the cost of HK Company, Singapore Company and Ucommune, and the duly creation of the Share Charge pursuant to Section 2.1(c) of this Agreement, the fund in the Offshore Escrow Account and the fund in the RMB Escrow Account shall be fully released to HK Company, Singapore Company and Ucommune, respectively and immediately.

  • Upon issuance of the MOFCOM Transfer Approval, the Seller and the Purchasers shall jointly instruct the escrow agent of the Offshore Escrow Account to release such Offshore Second Purchase Price Payment so deposited to the Seller at an account designated by the Seller.