Second Escrow Account definition

Second Escrow Account means the separate escrow account at City National Bank into which 50% of the Settlement Amount is to be deposited for the benefit of the Class.
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Second Escrow Account means the separate escrow account controlled by a national banking institution designated by the Lead Plaintiff, and acceptable to ANR (which acceptance shall not be unreasonably withheld), into which the Settlement Amount in the Escrow Account, less notice and administrative expenses already paid, will be transferred immediately following the entry of the Judgment or Alternative Judgment and which shall be fully vested in and for the benefit of the Settlement Class.
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Second Escrow Account has the meaning specified in Section ‎3.4(b)(i).
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Examples of Second Escrow Account in a sentence

  • If the monies standing to the credit of the Second Escrow Account are less than the Excess the Company shall only be entitled to recover in respect of the Excess up to the amount then standing to the credit of the Second Escrow Account.

  • If the amount of the Shortfall exceeds the amount standing to the credit of the First Escrow Account (the “Excess”) then such Excess shall be paid to the Company from the Second Escrow Account.

  • Accordingly, on or before September 15, 1997, the Settling Defendants shall, pursuant to the Escrow Agreement, cause to be paid into a second special escrow account (the "Second Escrow Account"), for the benefit of the State of Florida, to be held in escrow pending Final Approval of this Settlement Agreement, the sum of $200 million.

  • The Buyer, LDC and the Sellers’ Representative shall provide instructions to the Escrow Agents in order to give effect to the provisions of this clause 6 regarding the release of monies from the Second Escrow Account.

  • As soon as practicable following the settlement of any Relevant Claim outstanding at the Second Release Date in respect of which there is a Due Amount, the Buyer, LDC and the Sellers’ Representative shall, unless such Due Amount has been paid to the Buyer, instruct the Escrow Agents to pay to the Company out of the Second Escrow Account the lesser of the Due Amount and the amount standing to the credit of the Second Escrow Account.

  • Except as otherwise provided herein, the Settlement Fund shall be held in the Escrow Account or the Second Escrow Account, as the case may be, until the Effective Date.

  • Subject to the provisions of clause 4 no amount shall be released out of the Second Escrow Account otherwise than in accordance with this clause 6.

  • The liability to Taxation on any interest on any amount in the Second Escrow Account shall be borne by the party which receives that interest.

  • Any interest that may accrue on the credit balance on the Second Escrow Account shall be credited to the Second Escrow Account and any payment of principal out of the interest earned on such principal sum whilst retained in the Second Escrow Account (less any Taxation, costs, expenses or charges to be borne by the Escrow Agents).

  • Moreover, as the Commission observed, cellular voice services have been subject to Title II for decades without “frustat[ing] investment in the wireless marketplace” or leading “to ex ante regulation of rates.” Id. 687a (Order ¶ 447).


More Definitions of Second Escrow Account

Second Escrow Account has the meaning set forth in Section 2.2(a).
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Related to Second Escrow Account

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Escrow Deposit shall have the meaning set forth in Section 2.2(a).

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $21,505,439.97).

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C hereof.

  • Reserve Funds means the Tax and Insurance Reserve Funds, the FF&E Reserve Funds, the Required Repair Funds, the PIP Reserve Funds, the Excess Cash Reserve Funds or any other escrow funds established by the Loan Documents.

  • Indemnity Escrow Amount means $3,000,000.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Escrow Fund has the meaning ascribed to it in Section 7.2(a).

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Escrow Payments With respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other document.

  • Escrow Property means the Escrow Funds and the Certificates delivered to the Escrow Agent as contemplated by Section 1(c) hereof.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.