Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, escrow agent shall disburse the funds to the County. Building permits to be issued simultaneous with dispersal of funds. Any accrued interest earned on the escrow account shall be disbursed to the County.
Disbursement of Escrowed Funds. The Escrow Agent shall disburse the Escrowed Funds as follows:
Disbursement of Escrowed Funds. (a) In the event the Escrow Agent receives written notice from the Company substantially in the form of Exhibit A hereto (a “Purchaser Rejection Disbursement Notice”) the Escrow Agent shall disburse to the Purchaser solely in accordance with and pursuant to the terms of the Purchaser Rejection Disbursement Notice all collected sums paid by the Purchaser for Shares and received by the Escrow Agent.
Disbursement of Escrowed Funds. (a) The parties agree that all of the Escrowed Funds are available to satisfy the obligation of Sellers to indemnify Horizon and Purchaser for those items set out in Sections 7.02, 7.03 and 7.04 of the Purchase Agreement. The Escrow Agent shall release all or a portion of the Escrow Deposit to Purchaser twenty (20) days following receipt by Escrow Agent of a written statement form Purchaser's Representative, a copy of which shall be provided simultaneously to Sellers stating (i) the dollar amount of any indemnification owed to Purchaser by either Seller under the Purchase Agreement, (ii) a concise statement of the facts giving rise to such claim for indemnification, (iii) that Purchaser has made a claim for such indemnification pursuant to the terms of the Purchase Agreement and (iv) that Purchaser has not received payment of such indemnification amounts within twenty (20) days after delivery of such claim to the Sellers; provided that if such sworn written statement shall be disputed by Sellers in writing delivered to Escrow Agent with a copy to Purchaser's Representative within fifteen (15) days after Escrow Agent's receipt of such written statement from Purchaser's Representative, the Escrow Agent shall continue to hold in escrow the portion of the Escrow Deposit subject to such dispute until the dispute shall have been finally resolved by mutual agreement or by a court of competent jurisdiction. Any notice disputing the Purchaser's sworn written statement shall set forth a concise statement of the facts upon which Sellers are relying in disputing said sworn statement. The Escrowed Funds to be delivered to Purchaser in accordance with the preceding paragraph shall be disbursed to Purchaser or Horizon as directed by Purchaser. Except as expressly set forth in the Stock Purchase Agreement, Purchaser's failure to claim, or delay in claiming, Escrowed Funds shall not be a waiver of Purchaser's rights and shall in no way affect or prejudice Purchaser's rights and remedies against Sellers to recover any amounts due Purchaser.
Disbursement of Escrowed Funds. The Escrow Agent shall hold the escrowed funds until it receives written notice from the County as to the amount of impact fees due. The notice from the County shall establish the amount due the County from escrow funds. Within ten (10) days after receipt of notice from the County as to the impact fees due and payable, the Escrow Agent shall disburse the required impact fees to the County and shall disburse the remaining amount, if any, to the Builder. All accrued interest earned on the escrow account shall be prorated between the Builder and the County based upon the amount due to each.
Disbursement of Escrowed Funds. Escrow Agent shall disburse the Escrowed Funds at the times, to the party and in the amounts set forth in the Escrow Agreement Supplement which is attached hereto. The procedure to be followed relative to disbursements shall be as follows:
Disbursement of Escrowed Funds. Provided the requirement for ------------------------------ disbursement set forth in Section 3 above have been satisfied, Escrow Agent shall disburse the escrowed funds as directed by a Letter of Authorization signed by the Company's Board of Directors.
Disbursement of Escrowed Funds. On or before the Effective Date, L&F and COR shall execute and deliver joint instructions, in form and substance reasonably satisfactory to each of them, directing the Escrow Agent to disburse, on the Effective Date, all of the escrowed funds under the Escrow Agreement and terminate such escrow.
Disbursement of Escrowed Funds. Within two (2) business days following receipt of Lessee's written request, Escrow Agent shall disburse to Lessee or to such payees as may be designated by Lessee in its request for disbursement, out of the funds held in escrow, the out-of-pocket costs and expenses incurred by Lessee in connection with the performance by it of its obligations under Paragraph 2 (the "Capital Expenditures"), upon presentation of a request for disbursement, provided:
Disbursement of Escrowed Funds. The Escrowed Funds, including interest earned thereon that shall be accumulated in the escrow account, after expiration of such reasonable time (not exceeding thirty days) as shall be required to permit orderly liquidation of any investments thereof made in accordance with Section 2 hereof, shall be held by the Escrow Agent and not disbursed until one of the following events has occurred, in which event the Escrow Agent is authorized and directed to disburse the Escrowed Funds, or a portion thereof, in the manner indicated:
