Examples of Indemnity Escrow Agreement in a sentence
As funds become available from the disposition of Agency assets as provided in Articles III, IV, and V, and in furtherance of the indemnity and insurance required by Section 6.3 of this Agreement, the Agency shall place such funds in an “Indemnity Reserve Account” established pursuant to an Indemnity Escrow Agreement attached hereto as Schedule H.
The parties to this Agreement agree and acknowledge that funds held in the Indemnity Reserve Account shall be disbursed according to the terms of Schedule H, and that any amounts remaining in the escrow account after these designated purposes are satisfied shall be disbursed to the Participating Public Entities according to the applicable formula in Section 2.4 of this Agreement upon the written notice of the Participating Public Entities as provided Section 3.2 of the Indemnity Escrow Agreement.
The Escrow Amount shall be administered and disbursed by the Indemnity Escrow Agent as provided for in this Agreement and in the Indemnity Escrow Agreement.
On the Closing Date, Purchaser shall pay to the Escrow Agent, in immediately available funds, to the account designated by the Escrow Agent, the Indemnity Escrow Amount, in accordance with the terms of this Agreement and the Indemnity Escrow Agreement.
Buyer and the Escrow Agent shall have executed and delivered the Indemnity Escrow Agreement.