Escrow definition

Escrow means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or non-happening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. Escrow includes subdivision trusts and account servicing.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Escrow means an escrow, trust, collateral or similar account or arrangement holding proceeds of Indebtedness solely for the benefit of an unaffiliated third party.

Escrow has the meaning provided in the definition of “Indebtedness.”

Examples of Escrow in a sentence

• The total amount of the estimated Losses involved in any and all Claims notified to Sellers pursuant to Sections 7.4 and 7.5 above, duly accounted for in the Indemnity Account Report and whose loss forecasts are classified as “possible” or “probable” (“Potential Losses”), shall be deposited in the Escrow Account pursuant to Section 7.9 at the time of payment of the Options Exercise Price (as defined in the Shareholders' Agreement), if applicable.

• Each Purchaser shall have delivered to the Escrow Agent pursuant to the instructions contained on Schedule 2.1, via wire transfer or a certified check, immediately available funds equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser.

• The costs and expenses of opening the Escrow Account shall be borne equally by the Parties, and the maintenance costs shall be borne by the Escrow Amount.

• On the date of actual payment of the Option Exercise Price (as defined in the Shareholders' Agreement) (“Initial Escrow Date”), Buyer shall deposit into the Escrow Account the entire Potential Losses, as verified pursuant to Section 7.8 (“Escrow Amount”).

• Upon the exchange of items set forth in Section 2.2, the Company and the Placement Agent may give notice to the Escrow Agent to arrange an initial Closing.

More Definitions of Escrow

Escrow means an escrow established with an independent escrow agent pursuant to an escrow agreement reasonably satisfactory in form and substance to the Person or Persons asserting the obligation of one or more Borrowers to make a payment to it or them hereunder.

Escrow means the escrow established pursuant to the Escrow Agreement.

Escrow means a legal document (such as Source Code) delivered by Contractor to a third party escrow agent (“Escrow Agent”), and held by Escrow Agent until Procuring Agency Accepts one or more the Deliverables; in the event Contractor Defaults this Agreement, Procuring Agency will receive the legal document, e.g., Source Code, from Escrow Agent.

Escrow has the meaning set forth in Section 3.1 hereof.

Escrow has the meaning set forth in Section 5.4(e).

Escrow means the escrow account created pursuant to and intended to operate in accordance with the terms of the Escrow Agreement.

Escrow shall have the meaning given thereto in Section 4 hereof.