Additional Escrow Deposit definition

Additional Escrow Deposit means, with respect to any Interest Period for the Loans pursuant to the Escrow Credit Agreement, an amount, as calculated by the Escrow Administrative Agent and notified in writing to the Escrow Agent and the Escrow Borrower in the form of Annex V at least nine Business Days prior to the end of the then current Interest Period, equal to the excess of (i) the sum, without duplication, as calculated by the Escrow Administrative Agent and notified in writing in the form of Annex V to the Escrow Agent and the Escrow Borrower at least nine Business Days prior to the end of the then current Interest Period of (x) the principal amount of the Loans outstanding on such date plus (y) the amount of regularly accruing interest that will be payable for the Interest Period then applicable to the Loans and for the Interest Period that will be in effect following the expiration of such then current Interest Period assuming that the full amount of the Loans that are outstanding on such date remain outstanding throughout both such Interest Periods plus (z) the amount of all other Obligations then due and owing of which the Escrow Administrative Agent has received notice over (ii) the liquidation value of Escrowed Property on such date determined by the Escrow Agent and notified in writing in the form of Annex IV, in each case, on such date to the Escrow Administrative Agent and the Escrow Borrower (calculated as the amount of deposits and the principal amount of any Escrow Investments together with all accrued interest thereon through the date of determination).

Additional Escrow Deposit shall have the meaning as defined in Section 1.5(c)(v) of this Agreement.

Additional Escrow Deposit means, with respect to any Interest Period for the Term G Loans pursuant to the Escrow Credit Agreement, an amount, as calculated by the Escrow Administrative Agent and notified in writing in the form of Annex V at least nine Business Days prior to the end of the then current Interest Period to the Escrow Agent and the Escrow Borrower, equal to the excess of (i) the sum, without duplication, as calculated by the Escrow Administrative Agent and notified in writing in the form of Annex V to the Escrow Agent and the Escrow Borrower at least nine Business Days prior to the end of the then current Interest Period of (x) the principal amount of the Term G Loans outstanding on such date plus (y) the amount of regularly accruing interest that will be payable for the Interest Period then applicable to the Term G Loans and for the Interest Period that will be in effect following the expiration of such then current Interest Period assuming that the full amount of the Term G Loans that are outstanding on such date remain outstanding throughout both such Interest Periods and (z) the amount of all other Obligations then due and owing of which the Escrow Administrative Agent has received notice over (ii) the liquidation value of Escrow Property determined by the Escrow Agent and notified in writing in the form of Annex IV, in each case, on such date to the Escrow Administrative Agent and the Escrow Borrower (calculated as the amount of deposits and the principal amount of any Escrow Investments together with all accrued interest thereon through the date of determination).

Examples of Additional Escrow Deposit in a sentence

• Upon Default and notice of same by Seller to Escrow / Settlement Agent, Buyer understands and agrees to the immediate release of the Initial and Additional Escrow Deposit funds to the Seller by Escrow / Settlement Agent without the requirement of further documentation or consent from Buyer.

• Buyer shall receive credit for the Initial Escrow Deposit and the Additional Escrow Deposit, upon clearance, which shall be released from escrow and applied by the Settlement Agent towards the Total Purchase Price at Closing.

• In the event that, on or before the expiration of the Due Diligence Period, Buyer shall fail to have delivered the Approval Notice to Seller (and concurrently therewith deposit the Additional Escrow Deposit with Escrow Holder as provided for in this Agreement), Buyer shall be deemed to have elected not to proceed with the acquisition of the Property whereupon the Escrow Deposit shall be returned to Buyer and this Agreement, and the obligations of the parties hereunder, shall terminate.

• Upon Default and notice of same by Seller to Escrow Agent / Settlement Agent, Buyer understands and agrees to the immediate release of the Initial and Additional Escrow Deposit funds to the Seller by Escrow Agent / Settlement Agent without the requirement of further documentation or consent from Buyer.

• As used herein, the term "Escrow Deposit" shall mean the Initial Escrow Deposit and, from and after the deposit thereof, the Additional Escrow Deposit, together with all interest earned on such deposits while the same are held by Escrow Holder hereunder.

• In addition, if Buyer shall deliver the "Approval Notice" prior to the expiration of the "Due Diligence Period", as provided (and defined) in paragraph 4B hereof, Buyer shall concurrently therewith deliver an additional deposit of $150,000 (the "Additional Escrow Deposit") to Escrow Holder.

• If, pursuant to this paragraph, this Agreement is so terminated, there shall be no further obligations hereunder, except that Escrow Agent shall return the Escrow Deposit and Additional Escrow Deposit to Buyer within five (5) days of written notice of termination.

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• The Additional Escrow Deposit shall be in the form of Buyer's check which shall be held uncashed by the Escrow Holder until such time as the Closing occurs or, pursuant to the terms hereof, Seller notifies Escrow Holder and Buyer that Seller believes in its good faith discretion that it is entitled to the Escrow Deposit.

• Notwithstanding anything to the contrary contained in the Purchase Agreement, the Additional Escrow Deposit shall not be an uncashed check of Buyer but shall be made by bank or cashier's check drawn on a major national money center banking institution (or by other delivery of good funds reasonably acceptable to Seller), the proceeds of which shall be held by Escrow Holder as part of the Escrow Deposit under the Purchase Agreement.

More Definitions of Additional Escrow Deposit

Additional Escrow Deposit has the meaning set forth in Section 3.4(b) of the Agreement.

Additional Escrow Deposit means the “Additional Escrow Deposit” under, and as defined in, the Escrow Agreement.

Additional Escrow Deposit means the additional $750,000 dollar deposit into the Escrow Account as more particularly described in Section 3.4 (a) hereof.