Payment Escrow Agent definition
Examples of Payment Escrow Agent in a sentence
The Contractor and the Purchaser will share equally the costs and expenses of the Payment Escrow Agent.
If Escrow Agent shall have received a Notice of Payment, Escrow Agent shall promptly deliver a copy thereof to the other party hereto.
In the event Escrow Agent receives in connection with the Offering personal checks other than a Conforming Instrument or other negotiable instruments or wire transfers other than a Conforming Wire Payment, Escrow Agent may take any appropriate commercially reasonable action, including (i) delivering any instrument which is not a Conforming Instrument to the Transfer Agent, and (ii) refusing acceptance of or returning to the sending institution any wire transfer which is not a Conforming Wire Payment.
IMPSAT and SAC will share equally the costs and expenses of the Payment Escrow Agent.
The Payment Escrow Agreement shall provide, among other things, that any amounts deposited with the Payment Escrow Agent shall not be released to either party, until the dispute is resolved in accordance with Section 16.13 and the Payment Escrow Agent receives either (i) written notice signed by both parties with instructions directing the release of the Disputed Amount; or (ii) a final decision by the Arbitrators ordering the release of the Disputed Amount to one of the parties.
This Agreement shall terminate automatically at such time as all funds from the Contingent Payment Account have been paid or distributed in accordance with the terms of this Agreement and the Contingent Payment Escrow Agent has received all fees as described in SECTION 4.1 hereof.
Impsat and 360americas will equally share the costs and expenses of the Payment Escrow Agent.
For the purpose of securing the performance of AEGIS's obligations under the terms and provisions of this Agreement and as a condition precedent to Contributors' obligations hereunder, simultaneously with the execution and delivery of this Agreement, AEGIS shall pay, by check subject to collection, to Royal Abstract (the "Escrow Agent"), the amount of Fifty Thousand Dollars ($50,000.00), which amount (the "Initial Down Payment") Escrow Agent shall deposit in an interest-bearing account.
This SECTION 4.2(i) shall survive notwithstanding any termination of this Agreement or the resignation of the Contingent Payment Escrow Agent.
Payment: Escrow Agent may invoice Amexco and Amexco shall be responsible for all fees and/or charges applicable hereunder and Amexco agrees to pay each invoice properly rendered hereunder within thirty (30) days after its receipt.