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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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

In no event shall Sellers have any Liability in connection with the severance paid or payable to the Transition Employees in excess of the Severance Escrow.
Upon the contribution by DMFC II to DM Colombia of the $[1,152,000] intercompany receivable owed by DM Colombia to DMFC II (the “Contribution”), the Colombia Registration Tax Escrow shall be released to Buyer.
To the extent that the ICMOSA Payable Settlement results in any income in ICMOSA, then (1) an amount equal to ten percent (10%) of such income up to the Mexico Profit Sharing Escrow Amount shall be released to Buyer for further payment to the Employee Participation in Company Profits (Participación de los Trabajadores en las Utilidades de la Empresa) (the “PTU”) and (2) the remainder shall be released to the Sellers.
To the extent that ICMOSA Payable Settlement does not result in any income in ICMOSA, then the full Mexico Profit Sharing Escrow Amount shall be released to Sellers.
In no event shall Sellers have any Liability in connection with the Contribution in excess of the Colombia Registration Tax Escrow Amount.

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 the escrow account created pursuant to the Escrow Agreement.