Examples of Escrowed Funds in a sentence
The Escrow Agent may require additional funds to be deposited into the Escrowed Funds to pay for increased costs so that at all times there remain sufficient Escrowed Funds to pay for the Work.
Furthermore, Xxxxxx agrees that so long as the Operator is not in violation of the Operator Regulatory Agreement, to the extent Operator has (i) funded Escrowed Funds, tax and/or insurance impounds, and (ii) provided written notice and evidence satisfactory to Lender that it has funded and is funding such amounts as required.
Notwithstanding any other provision of this Agreement to the contrary, in the event any Escrowed Funds remain unexpended on the Completion Deadline, such remaining Escrowed Funds shall be immediately disbursed by the Escrow Agent to the FDC, and upon such final disbursement, the Escrow Agent is absolved of further responsibility.
Developer shall have no claim or right to any remaining Escrowed Funds deposited by the FDC unless and only to the extent the Developer has actual damages from a breach by the RDC or the FDC.
The Corporation further acknowledges and confirms that it has no interest in the Escrowed Funds unless and until the Escrow Release Notice is delivered to the Subscription Receipt Agent (at or before the Escrow Release Deadline).