Escrow of Funds Pending Closing Sample Clauses

Escrow of Funds Pending Closing. Concurrent with the execution of this Agreement, the Purchaser will tender to legal counsel for the Company funds equal to the Purchase Price for the Units. Such funds will be held by such counsel in escrow pending notice by the Company and Purchaser of the Closing. If the Closing has not occurred by the termination date specified in Section 8.1, the parties will instruct counsel to return the funds to the Purchaser. Such funds shall be delivered to Axxxxx & Pxxxxx LLP, 1000 Xxxxxx Xxxxxxxxx, XxXxxx, Xxxxxxxx 22102, Attn.: Kxxxx X. Xxxxx, Esq. by wire transfer to the following account: Account Name: Axxxxx & Pxxxxx LLP Client Trust Account Account No. 3700 3879 ABA No. 254 07 0116 Bank Name: Citibank FSB 1000 Xxxxxxxxxxxx Xxxxxx, XX Xxxxxxxxxx, XX 00000 Note: O2Diesel Corporation / Equity Subscription
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Escrow of Funds Pending Closing. Prior to consummation of the sale of Shares offered hereunder, all proceeds received from proposed purchasers of the Shares will be deposited in an escrow account maintained with Star Bank, N.A., as Escrow Agent pursuant to an Escrow Agreement among the Fund, the Dealer Manager and Star Bank, N.A. (the "ESCROW AGENT"), in form satisfactory to the parties (the "ESCROW AGREEMENT"). The parties mutually agree to faithfully perform their obligations under the Escrow Agreement. The Dealer Manager will promptly deliver the funds into the escrow account in accordance with Rule 15(c)2-4 of the Exchange Act (as hereinafter defined), but in any event not to exceed five business days after receipt of such funds.
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Escrow of Funds Pending Closing. Concurrent with the execution of this Agreement, the Purchaser will tender to legal counsel for the Company funds equal to the Purchase Price for the Units. Such funds will be held by such counsel in escrow pending notice by the Company and Purchaser of the Closing. If the Closing has not occurred by the termination date specified in Section 9.1, the parties will instruct counsel to return the funds to the Purchaser. Such funds shall be delivered to Xxxxxx & Xxxxxx llp, 0000 Xxxxxx Xxxxxxxxx, XxXxxx, Virginia 22102, Attn.: Xxxxx X. Xxxxx, Esq. by wire transfer to the following account: Account Name: Xxxxxx & Xxxxxx llp Client Trust Account Account No. 3700 3879 ABA No. 000 00 0000 Bank Name: Citibank FSB 0000 Xxxxxxxxxxxx Xxxxxx, XX Xxxxxxxxxx, XX 00000 Note: O2Diesel Corporation / Equity Subscription
Sample 1

Related to Escrow of Funds Pending Closing

  • Escrow of Funds Subject to the terms and conditions of the Grant Agreement, OPWC will disburse to Escrow Agent Grant funds available to Recipient, which disbursement shall be made by a check sent to Escrow Agent via regular U.S. Mail, or by such other means determined by the Director in the Director’s sole discretion, prior to the closing date as scheduled under the Contract (the “Escrow Funds”). The Escrow Funds shall be held by Escrow Agent, together with any funds of Recipient made available prior to closing on the terms and conditions hereinafter set forth.

  • Escrow Closing Buyer and Seller acknowledge and understand that the closing of the sale may be handled by an escrow agent and that the listing broker is authorized to transfer the xxxxxxx money or any other funds received to the escrow agent. After the transfer, Broker shall have no further responsibility or liability to Buyer or Seller to account for the funds. Escrow agent’s charges shall be equally divided between Buyer and Seller.

  • Closing; Closing Date Closing" and "Closing Date" have the meanings set forth in Section 5.3.

  • Conditions Precedent to the Closing Date The obligation of the Lenders to execute this Agreement and make any requested Loans on the Closing Date is subject to the prior satisfaction of each of the following conditions (unless waived in writing by Administrative Agent with the consent of the Lenders):

  • Closing Escrow The Closing shall take place by means of a so called “New York style” escrow (the “Closing Escrow”), and, at or prior to the Closing, the Parties shall enter into a closing escrow agreement with the Escrow Agent with respect to the Closing Escrow in form and substance reasonably acceptable to Seller, Purchaser and the Escrow Agent (the “Closing Escrow Agreement”) pursuant to which (i) the Purchase Price to be paid by Purchaser pursuant to Section 3.3 shall be deposited with Escrow Agent, (ii) all of the documents required to be delivered by Seller and Purchaser at Closing pursuant to this Agreement shall be deposited with Escrow Agent, and (iii) at Closing, the Purchase Price (as adjusted pursuant to Section 3.1) and the Xxxxxxx Money shall be disbursed to Seller and the documents deposited into the Closing Escrow shall be delivered to Seller and Purchaser (as the case may be) pursuant to the Closing Escrow Agreement.

  • Release of Pre-Closing Claims (a) Except as provided in Section 6.1(c), effective as of the Offerings Closing Date, the Company does hereby, for itself and each other member of the Company Group, their respective Affiliates (other than any member of the Parent Group), successors and assigns, and all Persons who at any time prior to the Offerings Closing Date have been stockholders, directors, officers, agents or employees of any member of the Company Group (in each case, in their respective capacities as such), remise, release and forever discharge Parent, the members of the Parent Group its respective Affiliates (other than any member of the Company Group), successors and assigns, and all Persons who at any time prior to the Offerings Closing Date have been stockholders, directors, officers, agents or employees of any member of the Parent Group (in each case, in their respective capacities as such), and their respective heirs, executors, administrators, successors and assigns, from any and all Liabilities whatsoever, whether at law or in equity (including any right of contribution), whether arising under any contract or agreement, by operation of law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed on or before the Offerings Closing Date, including in connection with the transactions and all other activities to implement any of the Separation, the IPO and the Distribution.

  • Seller’s Closing Conditions The obligations of Seller under this Agreement are subject, at the option of Seller, to the satisfaction, at or prior to the Closing, of the following conditions:

  • Conditions Precedent to the Closing Conditions precedent to the Closing are as follows:

  • Closing Closing Deliveries (a) The consummation of the transactions contemplated by this Agreement (the “Closing”) will take place on the Closing Date

  • Escrow and Closing 8.1 Upon acceptance hereof by Seller, this Agreement, including any counter-offers incorporated herein by the Parties, shall constitute not only the agreement of purchase and sale between Buyer and Seller, but also instructions to Escrow Holder for the consummation of the Agreement through the Escrow. Escrow Holder shall not prepare any further escrow instructions restating or amending the Agreement unless specifically so instructed by the Parties or a Broker herein. Subject to the reasonable approval of the Parties, Escrow Holder may, however, include its standard general escrow provisions.

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