Establishment of Escrow Fund. There is hereby created by the Authority and the Successor Agency with, and to be held by, the Escrow Bank, as security for the payment of the principal of and interest on the PH 2003 Loan and, thereby, the 2003 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the Successor Agency and for the benefit of the owners of the 2003 Authority Bonds, said escrow to be designated the “Escrow Fund.” All moneys deposited in the Escrow Fund shall constitute a special fund for the payment of the principal of, and interest on the PH 2003 Loan and, thereby, the 2003 Authority Bonds in accordance with the provisions of the Pleasant Hill Loan Agreement and the 2003 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys in the Escrow Fund will not be sufficient to make any payment required by Section 4 hereof, the Escrow Bank shall notify the Successor Agency of such fact and the Successor Agency shall immediately cure such deficiency with any lawfully available funds of the Successor Agency.
Establishment of Escrow Fund. 3.1 (a) Simultaneously with the execution of this Agreement, MTNV has deposited stock certificates registered in the names of Selling Stockholders and representing the number of shares of the common stock of MTNV ("MTNV COMMON STOCK") all as set forth in Exhibit B hereto, par value NLG 0.96 each (including the proceeds thereof that are securities, as applicable, the "ESCROWED SHARES") in escrow with Escrow Agent and Selling Stockholders have delivered to Escrow Agent, for deposit in the Escrow Fund, stock powers (executed in blank) covering the Escrowed Shares. Such Escrowed Shares, and all cash and non-cash dividends or other distributions paid or payable on or with respect to the Escrowed Shares, shall be deposited in escrow and shall be held by Escrow Agent in accordance with the terms of this Escrow Agreement. Any amounts of cash held by Escrow Agent at any time shall be held by Escrow Agent in a separate, interest-bearing account with a licensed bank in Singapore established by Escrow Agent and designated as such pursuant to the terms of this Escrow Agreement and such amounts shall be invested in accordance with Section 3.1(c) hereof. If at any time prior to the release of the Escrowed Shares from escrow, there shall be a merger or consolidation of MTNV with or into another entity and the then-issued and outstanding MTNV Common Stock is cancelled or exchanged in connection therewith, then the proceeds thereof (whether in the form of cash, securities or other property or assets) which a holder of the Escrowed Shares is entitled to receive, shall be delivered to and held in escrow by Escrow Agent to the extent that such Escrowed Shares are held in escrow at such time. If at any time prior to the release of the Escrowed Shares from escrow, there shall occur a subdivision, combination, conversion or reclassification of the MTNV Common Stock into a different class or kind of security, then the number and kind of securities as are issuable to the record holder of the Escrowed Shares as a result of such change with respect to the MTNV Common Stock shall be delivered to and held in escrow by Escrow Agent to the extent that such Escrowed Shares are held in escrow at such time. Any proceeds or securities held in escrow by Escrow Agent shall be subject to the same escrow arrangements and provisions as are specified herein for the Escrowed Shares and any securities shall be valued in like manner as the Escrowed Shares as set forth in Section 4.2(g). All such Escr...
Establishment of Escrow Fund. 1.1 Simultaneously with the execution and delivery of this Escrow Agreement, Buyer shall deposit the sum of Fifty-Seven Thousand fifty-four and 98/100 Dollars ($57,054.98) (which deposit, together with interest accrued thereon, shall be referred to as the "Escrow Fund") with the Escrow Agent.
Establishment of Escrow Fund. (a) On the Closing Date, Acquiree Shareholder shall, pursuant to Section 2.2(b) of the Stock Purchase Agreement, deposit with the Escrow Agent the stock certificates evidencing the Escrow Shares (which consist of 170 shares of Acquiree's Common Stock) endorsed in blank.
Establishment of Escrow Fund. There is hereby created by the District with, and to be held by, the Escrow Bank, as security for the redemption price of the 2008 Certificates as hereinafter set forth, an irrevocable escrow to be maintained by the Escrow Bank on behalf of the District and for the benefit of the owners of the 2008 Certificates, said escrow to be designated the “Escrow Fund.” All moneys deposited in the Escrow Fund shall be held as a special fund to provide for the redemption of all outstanding 2008 Certificates on July 24, 2019 (the “Redemption Date”), at a redemption price equal to 100% of the principal amount thereof (the “Redemption Price”) in accordance with the provisions of this Escrow Agreement.
Establishment of Escrow Fund. There is hereby created a fund (the “Escrow Fund”) to be held by the Escrow Bank as an irrevocable escrow securing the payment of the Refunded Prior Bonds, subject to and in accordance with the provisions of this Agreement.
Establishment of Escrow Fund. Upon receipt of the Escrow Fund and immediately following the Effective Time, Paying Agent shall transfer and deliver to Escrow Agent immediately available funds in an amount equal to the Escrow Fund, which the Parties agree shall be $25,000,000. Escrow Agent hereby agrees to receive, hold, administer, safeguard and disburse the Escrow Fund pursuant to the terms and conditions of this Agreement.
Establishment of Escrow Fund. Simultaneously with the execution of this Agreement, JMED and the Principal Holders are delivering to the Escrow Agent stock certificates evidencing 60,000 shares of the Common Stock, par value $0.04 per share of JMED (the "Jonex Xxxck"), to be registered in the name of Escrow Agent. The Jonex Xxxck is delivered equally on behalf of the Principal Holders and each Principal Holder shall have a pro-rata interest in the assets comprising the Escrow Fund in accordance with such Principal Holder's percentage of the aggregate shares of the Jonex Xxock initially deposited to constitute the Escrow Fund, as the same may be modified due to any "non-pro rata" distributions to the Principal Holders in accordance with the provisions of this Agreement. The Escrow Agent hereby acknowledges receipt of the certificate evidencing the Jonex Xxxck.
Establishment of Escrow Fund. At the Closing, Buyer shall pay to the Escrow Agent in cash by wire transfer the amount of $500,000 (the “Escrow Fund”) to be held in escrow by the Escrow Agent pursuant to the terms of the Escrow Agreement.
Establishment of Escrow Fund. The Issuer hereby appoints the Bank as Escrow Agent and establishes with the Escrow Agent an escrow fund that shall contain the proceeds of the Securities minus the Initial Disbursement (the “Escrow Fund”). The Escrow Agent agrees to establish and maintain the Escrow Fund in its capacity as Escrow Agent pursuant to the terms of this Indenture. All earnings on any account invested pursuant to this Indenture shall be deposited into the respective account generating said earnings.
