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.

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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 set forth in the definition of “Indebtedness”.

Examples of Escrow in a sentence

From and after the date hereof, all references in the Indenture to the “Issuer” shall refer to the Assumption Issuer instead of the Escrow Issuer.
The Trustee and Agents shall sign any amended or supplemental indenture and/or Escrow Agreement authorized pursuant to this Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee and Agents, as applicable.
The Trustee is hereby authorized and directed to execute and deliver the Escrow Agreement.
The Trustee shall not be responsible or liable in any manner whatsoever for the creation, perfection, legality, effectiveness and enforceability under applicable laws of the Escrow Agreement or the security interest created thereunder.
The Trustee accepts no responsibility or liability for any acts, omissions or defaults of the Escrow Agent.

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 has the meaning set forth in Section 3.1 hereof.

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 5.4(e).

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

Escrow means written instruments, money or other items deposited by one party with a settlement