Escrow Terms. 27.1 The Contract Deposit shall be deposited by Escrowee in an escrow account as set forth in ¶ 1.24 and the proceeds held and disbursed in accordance with the terms of this Contract. At Closing, the Contract Deposit shall be paid by Escrowee to Seller. If the Closing does not occur and either Party gives Notice to Escrowee demanding payment of the Contract Deposit, Escrowee shall give prompt Notice to the other Party of such demand. If Escrowee does not receive a Notice of objection to the proposed payment from such other Party within 10 business days after the giving of Escrowee's Notice, Escrowee is hereby authorized and directed to make such payment to the demanding party. If Escrowee does receive such a Notice of objection within said period, or if for any reason Escrowee in good faith elects not to make such payment, Escrowee may continue to hold the Contract Deposit until otherwise directed by a joint Notice by the Parties or a final, non-appealable judgment, order or decree of a court of competent jurisdiction. However, Escrowee shall have the right at any time to deposit the Contract Deposit and the interest thereon, if any, with the clerk of a court in the county as set forth in ¶ 22 and shall give Notice of such deposit to each Party. Upon disposition of the Contract Deposit and interest thereon, if any, in accordance with this ¶ 27, Escrowee shall be released and discharged of all escrow obligations and liabilities.
Escrow Terms. 28.1 Escrowee acknowledges receipt of the check for the Contract Deposit, subject to collection.
Escrow Terms. The Xxxxxxx Money shall be held in escrow by Escrow Agent on the following terms and conditions:
Escrow Terms. The Escrow Agent shall hold the Deposit in escrow on the following terms and conditions:
Escrow Terms. Escrow Agent shall hold and disburse the Xxxxxxx Money Deposit in accordance with the following provisions:
Escrow Terms. 8.1.1 Escrow Agent shall promptly give notice to Purchaser and Seller upon its receipt of any portion of the Deposit from Purchaser in accordance with this Agreement. Escrow Agent shall invest the Deposit (if in cash) in overnight repurchase obligations secured by United States obligations through such bank as Escrow Agent may elect and shall be approved by Purchaser and Seller. Escrow Agent shall not be liable for any loss of such investment (unless due to Escrow Agent’s gross negligence or willful misconduct). All interest on the Deposit shall be treated by Escrow Agent for income tax purposes as earned by Purchaser, and Purchaser shall provide its tax identification number to Escrow Agent for this purpose.
Escrow Terms. A. Unless otherwise provided for in this Escrow Agreement or any addendum hereto, Escrow Agent shall disburse the Escrow Fund without interest or other accumulation in value. Escrow Agent shall not be obligated to deposit the funds in an interest bearing account until such time that Seller provides Escrow Agent with an executed form W-7 indicating the Seller’s tax identification number.
Escrow Terms. The Title Company shall hold the Deposit in escrow on the following terms and conditions:
Escrow Terms. The Closing Escrow Deliveries, the balance of the Purchase Price, the Amendment Fee Reimbursement and the Relocation Deposit (collectively, the “Escrow Items”) shall be held in escrow by Escrow Agent on the following terms and conditions:
Escrow Terms. Escrow Agent as Attorney-in-Fact. The Escrow Agent shall be transferor's attorney-in-fact to hold the Shares purchased by the Corporation and/or the Remaining Shareholders, as the case may be, until any promissory notes delivered on account of the said Shares are paid in full.
