Cash Escrow. The Seller herewith deposits with the Escrow Agent, and the Escrow Agent acknowledges receipt of the sum of ($) which said sum shall be held by the Escrow Agent and disbursed as follows:
Cash Escrow. Within sixty (60) days of the Effective Date of this ----------- Agreement, or such other time period as mutually agreed by the parties, CP and NSI shall enter into an escrow deposit agreement ("Escrow Agreement") with a mutually agreeable escrow agent for the establishment of an escrow account. CP shall deposit the amount of Two Hundred Fifty Thousand Dollars (US $250,000) (the "Deposit") in such escrow account and shall list NSI as the beneficiary thereof upon occurrence of a Release Condition as defined below. NSI agrees to pay all applicable fees for the establishment and maintenance of the escrow account.
Cash Escrow. To secure the Principal Stockholders' various obligations under Section 1.8 and Article VII, the Principal Stockholders and Buyer agree to execute and deliver at the Closing the Escrow Agreement, substantially in the form of Exhibit A hereto (as may be amended, the "Escrow Agreement"). The Principal Stockholders and Buyer acknowledge and agree that at Closing, SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($7,500,000) of the Purchase Price (the "Escrow Funds") shall be delivered to SunTrust Bank in Atlanta, Georgia as the escrow agent (the "Escrow Agent") under the Escrow Agreement, to be held by the Escrow Agent in an interest-bearing escrow account (the "Escrow Account"). The Escrow Funds shall come from the Purchase Price proceeds of the Principal Stockholders on a pro rata basis. The Escrow Funds shall be released only as follows, as set forth in the Escrow Agreement: (I) FIVE MILLION DOLLARS ($5,000,000) (less any pending escrow claims as set forth in 8 the Escrow Agreement) shall be released to the Principal Stockholders upon the earlier of (a) receipt by Buyer of audited financial statements of the Company for the fiscal year ended December 31, 2003 (provided, that Buyer in its discretion may accept unaudited financial statements), or (b) Xxxxx 00, 0000, (XX) the balance of the Escrow Funds (less any pending escrow claims as set forth in the Escrow Agreement) shall be released to the Principal Stockholders two (2) years after the Closing Date, (III) upon and according to joint written instructions by the Buyer and the Principal Stockholders, or (IV) as otherwise required under the Escrow Agreement. All interest on Escrow Funds shall be released only to the Principal Stockholders. Upon release of any principal Escrow Funds to the Principal Stockholders or Buyer as set forth hereunder and in the Escrow Agreement ("Principal Escrow Funds"), all accrued interest on such released Principal Escrow Funds shall be released to the Stockholders' Representative at such time. The investment of the Escrow Funds shall be mutually agreed upon in good faith by the Stockholders' Representative and Buyer, provided that in the event such parties cannot agree upon an investment, the Escrow Funds shall be invested as initially invested on the Closing Date.
Cash Escrow. Security provided as cash pursuant to this Section 8.1 shall be United States currency, deposited with a financial institution or company acceptable to Seller (“Buyer Issuer”), either: (i) in an account under which Seller is designated as beneficiary with sole authority to draft from the account or otherwise access the security; or (ii) held by Buyer Issuer as agent pursuant to a control agreement in a form reasonably acceptable to Seller. Security provided in this form shall include a requirement for immediate Notice to Seller from Buyer Issuer and Buyer in the event that the sums held as security in the account or trust are less than the then-current amount of Performance Assurance. Funds held in the account may be deposited in a money-market fund, short- term treasury obligations, investment-grade commercial paper and other liquid investment-grade investments with maturities of three months or less, with all investment income thereon to be taxable to, and to accrue for the benefit of, Buyer. Quarterly account sweeps by Buyer for recovery of interest earned by the cash escrow shall be allowed; it being understood that Seller shall draw and remit to Buyer, on demand by Buyer (which demand may be made at least quarterly), any excess in the account above the then-current amount of Performance Assurance.
Cash Escrow. Security provided as cash pursuant to this Section 8.2 shall be United States currency, deposited with a financial institution or company acceptable to Buyer (“Seller Issuer”), either: (i) in an account under which Buyer is designated as beneficiary with sole authority to draft from the account or otherwise access the security; or (ii) held by Seller Issuer as agent pursuant to an Escrow Agreement for Seller in the form attached hereto as Exhibit F for Project Development Security and pursuant to a control agreement in a form reasonably acceptable to Buyer for Delivery Term Security. Security provided in this form shall include a requirement for immediate Notice to Buyer from Seller Issuer and Seller in the event that the sums held as security in the account or trust are less than the then-current amount of Performance Assurance. Funds held in the account may be deposited in a money-market fund, short-term treasury obligations, investment-grade commercial paper and other liquid investment-grade investments with maturities of three months or less, with all investment income thereon to be taxable to, and to accrue for the benefit of, Seller. Quarterly account sweeps by Seller for recovery of interest earned by the cash escrow shall be allowed; it being understood that Buyer shall draw and remit to Seller, on demand by Seller (which demand may be made at least quarterly), any excess in the account above the then-current amount of Performance Assurance.
Cash Escrow. To secure completion of these improvements on or before the specified completion date, the undersigned agrees to hold the sum of $ -29089:DB9113 , hereinafter referred to as the "Fund," and not to expend or disburse said Fund until a representative of the undersigned has made a personal inspection of the work and found that all items have been satisfactorily completed and there is evidence satisfactory to the undersigned that there are no liens or possibilities of liens in connection with said improvements on the premises covered by the above. The undersigned further agrees, if it is an institution which is required by HUD regulations to segregate mortgage escrow funds, that it will hold said sum in a special custodial bank account separate and apart from its general assets.
Cash Escrow. An escrow account established by Contractor in a commercial bank or trust company organized under the laws of the United States of America or a political subdivision thereof, whose long-term senior unsecured debt is rated at least “A” by S&P and “A2” by Xxxxx’x, and with assets (net of reserves) of at least $10,000,000,000. Cash deposited to the escrow account shall earn interest at the rate applicable to money market deposits at the banking institution from time to time, and the interest shall be retained in the escrow account as additional security for Contractor’s performance under this Agreement.
Cash Escrow. An assurance of completion of HUD required repairs. The amount(s) identified in the Property at a Glance. The cash escrow shall be held by HUD.
Cash Escrow. (a) The parties must, as soon as practicable after the date of this document and in any event prior to the date specified in clause 2.6(b), agree to a third party escrow arrangement with the Escrow Agent on such terms as are customary in Hong Kong and which are acceptable to MCE and New Cotai Holdings in the exercise of their reasonable discretion (Escrow Agreement) to hold and pay the amount referred to in clause 2.6(c).
Cash Escrow. Subject to the exceptions set forth in Sections ----------- 10.3(c) and 10.3(e) below, all Buyer Indemnifiable Claims and Buyer Indemnifiable Losses shall be satisfied solely from the Cash Escrow Amount and the Escrowed Shares held in escrow pursuant to the Escrow Agreement.
