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.
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 Escrow Agent shall apply the Deposit as provided in this Agreement.
Upon payment of the Deposit into court, the Escrow Agent shall have no responsibility to Buyer or Seller except as specifically provided in this Agreement and shall not be responsible for the performance by Buyer or Seller of any obligation set forth in this Agreement.
The Escrow Agent shall be liable solely for its own negligence or default.
If the Escrow Agent receives written objection to any request, the Escrow Agent shall advise both parties thereof.
Any action of the Escrow agent shall be requested in writing by the respective parties hereto with copies of such requests sent as provided in paragraph 13 of this Agreement.
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 a legal document (such as the software source code) delivered by the Contractor into the hands of a third party, and to be held by that party until the performance of a condition is Accepted; in the event Contractor fails to perform, the Procuring Agency receives the legal document, in this case, Source Code.
Escrow has the meaning set forth in Section 3.1 hereof.
Escrow means an escrow opened with the Escrow Holder for the purchase and sale of the Property in accordance with the provisions of this Agreement.
Escrow has the meaning set forth in Section 5.4(e).
Escrow means the escrow established pursuant to the Escrow Agreement.