Examples of New Escrow Agreement in a sentence
The remaining balance of the Cash Escrow in excess of $834,861 shall be deposited into escrow under the Trimont New Escrow Agreement to be utilized pursuant a separate agreement among Enervest, Chevron and Trimont regarding plugging and abandonment work on the Garden Island Bay field and the Bateman Lake field.
Each Existing Escrow Agreement has, and each New Escrow Agreement shall have, a maximum stated maturity date on or before the earlier of the following two dates: (1) four years from the date on which such Escrow Agreement becomes effective, or (2) one year after the Expiration Date.
All capitalized terms used herein will have the same meaning ascribed to them in the New Escrow Agreement, unless specifically stated otherwise.
All Xxxxxxx Money, together with any interest or other income earned thereon, shall be held, invested and disbursed pursuant to the New Escrow Agreement.
The Selling Stockholders hereby irrevocably appoint Xxxxxx Xxxxxx as the sellers’ representative (the “Sellers’ Representative”) as their agent and attorney-in-fact to take all actions on their behalf as contemplated by this Agreement, the Escrow Agreement and the New Escrow Agreement, including, without limitation, to receive any and all payments to be made by Purchaser hereunder.