Utility Escrow definition

Utility Escrow means the adequate assurance deposits equal to $297,755 and made by the Sellers in connection with the continued provision of post-petition utility services pursuant to an order of the Bankruptcy Court issued on April 11, 2014.
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Examples of Utility Escrow in a sentence

  • During any period, following the delivery of a notice of the occurrence of a Utility Escrow Default and until delivery of notice that the Utility Escrow Default is no longer continuing, the Default Escrow Bank shall provide statement of accounts to the Utility and the Supplier on a daily basis.

  • To the extent not already included in Estimated Monthly Utility Escrow Payments, Tenant shall pay for all water, gas, heat, light, power, telephone, sewer and other utilities and services used on or from the Premises, together with any taxes, penalties, and surcharges or the like pertaining thereto and any maintenance charges for utilities.

  • If any such services are not separately metered or submetered to Tenant and to the extent not already included in Estimated Monthly Utility Escrow Payments, Tenant shall pay its proportionate share of all charges such as jointly metered with other premises as determined by Landlord, in its reasonable discretion.

  • During the Rent Abatement Period, Tenant shall pay to Landlord the Estimated Monthly Utility Escrow on or before the first (1st) day of the applicable calendar month.

  • On or before December 15 of each year during the term of the Lease, Landlord shall deliver to Tenant a statement of such estimate, such statement to include notice of an amount equal to one-twelfth (1/12) of such estimate (the "Estimated Monthly Utility Escrow Payment").

  • Any such charges paid by Landlord and assessed against Tenant shall be immediately payable to Landlord on demand and shall be additional rent hereunder to the extent not already included in Estimated Monthly Utility Escrow Payments.

  • The Estimated Monthly Utility Escrow Payment shall be paid by Tenant pursuant to Article 3 of this Lease and shall be subject to adjustment pursuant to Paragraph 4.7.1 below.

Related to Utility 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.

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

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

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