Common use of The Escrow Clause in Contracts

The Escrow. 3.1 The Respondent shall be required, in accordance with the CRTSA, to deposit an amount equal to the Security Amount as escrow amount to the account number [●] of the Escrow Agent with [●] (bank clearing Nr. [●], SWIFT code: [●]) (the “Escrow Account”) in accordance with GC 16.2(v) of the CRTSA, i.e., within 10 (ten) calendar days after the appointment of the arbitrators becoming effective pursuant to Art. 5.1 of the Swiss Rules.

The Escrow. 3.1 The Respondent shall be required, in accordance with the CRTSA, to deposit an amount equal to the Security Amount as escrow amount to the account number [●] of the Escrow Agent with [●] (bank clearing Nr. [●], SWIFT code: [●]) (the “Escrow Account”) in accordance with GC 16.2(v16.2(vi) of the CRTSA, i.e., within 10 ten (ten10) calendar days after the appointment of the arbitrators becoming effective pursuant to Art. 5.1 of the Swiss Rules.