Establishment of Escrow Account. Prior to the Issuer initiating the Offering, and prior to the receipt of the first Subscriber funds, Escrow Agent shall establish an account for the Issuer (the “Escrow Account”). All parties agree to maintain the Escrow Account and Escrow Amount (as defined below) in a manner that is compliant with applicable banking and securities regulations. Escrow Agent shall be the sole administrator of the Escrow Account.
Establishment of Escrow Account. An escrow account (the “Escrow Account”) is hereby established with the Escrow Agent for the benefit of the investors in the Offering. Except as specifically provided in this Agreement, the Escrow Account shall be created and maintained subject to the customary rules and regulations of the Escrow Agent pertaining to such accounts.
Establishment of Escrow Account. The Servicer shall establish and maintain a separate Escrow Account titled “Chase Home Finance LLC as subservicer for JPMorgan Chase Bank, National Association, in trust for HSBC Bank USA, National Association, as Trustee for X.X. Xxxxxx Alternative Loan Trust 2006-A7 and various Mortgagors,” for all funds collected and received on the Specified Mortgage Loans.
Establishment of Escrow Account. Prior to Issuer initiating the Offering, and prior to the receipt of the first investor funds, Escrow Agent shall establish an account (the “Escrow Account”) at an FDIC insured US bank (the “Bank”). The Escrow Account shall be a segregated, deposit account of Escrow Agent at the Bank. All parties agree to maintain the Escrow Account and escrowed funds in a manner that is compliant with banking and securities regulations.
Establishment of Escrow Account. The parties have established an escrow account with the Escrow Agent.
Establishment of Escrow Account. 2.1 The parties hereto shall establish a non- interest-bearing escrow account at the office of the Escrow Agent, and bearing the designation, set forth on the Information Sheet (the "Escrow Account").
Establishment of Escrow Account. (a) Each Shareholder and RSI are contemporaneously with the execution and delivery of this Agreement by each of the parties delivering the number of Indemnification Shares and/or the amount of Cash Collateral set forth opposite its name on Schedule A hereto to the Escrow Agent for deposit into separate escrow accounts (each, an "Escrow Account" and collectively, the "Escrow Accounts") by the Escrow Agent and the Escrow Agent hereby acknowledges receipt of the same. All Indemnification Shares and Cash Collateral in the Escrow Accounts shall be available for distribution by the Escrow Agent, subject to the provisions of this Agreement, to reimburse any RSI Indemnitee or any Shareholder Indemnitee, as the case may be, in respect of any Losses that are indemnifiable pursuant to this Agreement. Notwithstanding the escrow of the Indemnification Shares, dividends and other distributions declared and paid on Indemnification Shares held in escrow shall continue to be paid by HQGW to the respective Shareholders and RSI, all voting rights with respect to such shares shall inure to the benefit of and be enjoyed by the respective Shareholders and RSI, and such Shareholders and RSI shall be the legal and beneficial owners of such shares for all purposes subject to the terms of this Agreement; provided, that the parties agree that (i) the Surviving Corporation shall deposit with the Escrow Agent any securities issued to the Shareholders or RSI in respect of any Indemnification Shares held in escrow as a result of a stock split or combination of shares of Voting Common Stock or Non-Voting Common Stock, as the case may be, payment of a stock dividend or other stock distribution made without receipt of consideration therefor in or on the Voting Common Stock or Non-Voting Common Stock, as the case may be, or change of shares of the Voting Common Stock or Non-Voting Common Stock, as the case may be, into any other securities pursuant to or as part of a business combination or otherwise, and (ii) such securities shall be held by the Escrow Agent as, and shall be included within the definition of, Indemnification Shares, as the case may be; provided, however, notwithstanding the foregoing proviso, to the extent that any such distribution of securities is properly taxable as a dividend for federal income tax purposes, HQGW shall distribute such securities to the respective Shareholders and RSI. The Escrow Agent agrees that it shall invest any Cash Collateral in an interest-beari...
Establishment of Escrow Account. The parties have established an escrow account with the Escrow Agent. Dxxxx shall sell his shares in this offering, if at all, only at the price of $0.10 per share and only after OICco Acquisition II, Inc. has sold the maximum number of shares in the offering referred to herein.
Establishment of Escrow Account. The parties have established an escrow account with the Escrow Agent. O'Dare shall sell his shares only at the price of $0.45 per share and only after Chevel Resources Corporation . has sold at least the minimum number of shares (200,000) in its offering.
Establishment of Escrow Account. Upon the execution of this Agreement, the Principal Stockholders shall deliver to the Escrow Agent the Escrow Shares, along with a stock power executed in blank, signature medallion guaranteed or in other form and substance acceptable for transfer. The Escrow Agent shall hold the Escrow Shares and distribute the same as contemplated by this Agreement.
