Third-Party Escrow definition

Third-Party Escrow means an escrow account (or letter(s) of credit) established pursuant to third-party escrow agreements (or letter(s) of credit documents) among, MLH and TA, on the one hand, and the United States, on the other hand, on terms and conditions acceptable to them in their sole and absolute discretion, which escrow agreements (or letter(s) of credit documents) shall provide that if the conditions precedent in the escrow agreements (or letter(s) of credit documents) are satisfied the escrow funds (or letter(s) of credit) can be released to the DOJ Parties, which conditions precedent shall include, among other things, that if the Restructuring does not close on or before December 30, 2015, for whatever reason whatsoever, the escrow funds (or letter(s) of credit) shall be released and returned to MLH and TA, respectively.
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Examples of Third-Party Escrow in a sentence

  • All Cure Amounts and taxes required to be paid pursuant to this Section 5.4 shall be paid on or before the Closing Date out of the Third-Party Escrow Amount.

Related to Third-Party Escrow

  • Indemnity Escrow Account means the indemnity escrow account established by the Escrow Agent pursuant to the Escrow Agreement.

  • 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.

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement among Buyer, Seller and the Escrow Agent, substantially in the form of Exhibit B.

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

  • Third Party Equipment has the meaning given such term in Section 4.8 of this Agreement.