Appointment of Escrow Agent and Creation of Account Clause Samples

The "Appointment of Escrow Agent and Creation of Account" clause formally designates a third party, known as the escrow agent, to hold and manage funds or assets on behalf of the parties involved in a transaction. This clause typically outlines the process for establishing the escrow account, including details such as the agent's responsibilities, the type of account to be created, and the conditions under which the account will be used. By appointing an escrow agent and setting up an account, the clause ensures that assets are securely held until all agreed-upon conditions are met, thereby protecting both parties and facilitating trust in the transaction.
Appointment of Escrow Agent and Creation of Account. The Company hereby appoints the Escrow Agent as escrow agent hereunder and directs it to hold those assets described in Exhibit A attached hereto, together with any additional assets which may be deposited with the Escrow Agent from time to time to be held pursuant to this Agreement and any additions thereto (collectively, the "Escrow Assets"), in a separate account in the name of "SB Merger Corp. - Stock Escrow Account" (the "Escrow Account"). The Escrow Account shall be administered and distributed in accordance with the terms set forth below. Contemporaneously with the closing of the Offering, the Company shall deposit with the Escrow Agent those assets listed on Exhibit A. 1. Initial Deposit into Escrow Account. Certificates representing all Shares sold by the Company shall be deposited directly in the Escrow Account by the Company.
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Appointment of Escrow Agent and Creation of Account. Contemporaneously, with the execution of this Agreement, the Company has deposited with the Escrow Agent those assets listed on Exhibit B attached hereto. The Company and the Subscribers hereby appoint the Escrow Agent as escrow agent hereunder and direct it to hold those assets listed on Exhibit B attached hereto. The Company and the Subscribers hereby appoint the Escrow Agent as escrow agent hereunder and direct it to hold those assets described in said Exhibit B, together with any additional assets which may be deposited with the Escrow Agent from time to time to be held pursuant to this Agreement and all income earned from investment of the assets described in Exhibit B and any additions thereto (collectively the "Escrow Assets"), in a separate account in the name of "Physicians Care" (the "Escrow Account"). The Escrow Account shall be invested, administered and distributed in accordance with the terms set forth below.
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Appointment of Escrow Agent and Creation of Account. The Company hereby appoints the Escrow Agent as escrow agent hereunder and directs it to hold those assets described in Exhibit A attached hereto, together with any additional assets which may be deposited with the Escrow Agent from time to time to be held pursuant to this Agreement and all income earned from investment of the assets described in Exhibit A and any additions thereto (collectively, the "Escrow Assets"), in a separate account in the name of " Able One Capital, Inc. - Escrow Account" (the "Escrow Account"). The Escrow Account shall be invested, administered and distributed in accordance with the terms set forth below. Contemporaneously with the closing of the Offering, the Company shall deposit with the Escrow Agent those assets listed on Exhibit A.
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Appointment of Escrow Agent and Creation of Account. The Company hereby appoints the Escrow Agent as escrow agent hereunder and directs it to hold those assets described in Exhibit A attached hereto, together with any additional assets which may be deposited with the Escrow Agent from time to time to be held pursuant to this Agreement and any additions thereto
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Appointment of Escrow Agent and Creation of Account. Contemporaneously with the execution of this Escrow Agreement (this “Agreement”), the Escrow Parties have provided the Escrow Agent with those assets listed on Exhibit B attached hereto. The Escrow Parties hereby appoint the Escrow Agent as escrow agent hereunder and directs it to hold those assets described in said Exhibit B, together with any additional assets which may be provided to the Escrow Agent from time to time to be held pursuant to this Agreement and all income earned from investment of the assets described in Exhibit B and any additions thereto (collectively the “Escrow Assets”), in a separate account in the name of “Project Florida Indemnity Escrow” (the “Escrow Account”). The Escrow Account shall be invested, administered and distributed in accordance with the terms set forth herein. This Escrow Agreement shall be in effect from the date hereof until the date on which the Escrow Agent receives instructions as to the disposition of the Escrow Assets, or the date otherwise set forth in this Agreement or until Escrow Agent resigns or is replaced.
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Appointment of Escrow Agent and Creation of Account. The Company hereby appoints the Escrow Agent as escrow agent hereunder and directs it to hold those funds received from subscribers for Shares which may be deposited with the Escrow Agent from time to time to be held pursuant to this Agreement and any income earned from investment of such assets (collectively, the "Escrow Assets"), in a separate account in the name of "SB Merger Corp. - Escrow Account" (the "Escrow Account"). The Escrow Account shall be invested, administered and distributed in accordance with the terms set forth below.
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Related to Appointment of Escrow Agent and Creation of Account

  • Appointment of Escrow Agent The Company and the Initial Stockholders hereby appoint the Escrow Agent to act in accordance with and subject to the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such terms.

  • Appointment of the Escrow Agent Purchaser and Seller hereby appoint the Escrow Agent to serve as escrow agent hereunder and to hold the Escrow Fund (as defined herein) in accordance with the terms, conditions and provisions of this Agreement. The Escrow Agent hereby accepts such appointment and agrees to perform all duties which are expressly set forth in this Agreement and to hold, invest, disburse and apply the Escrow Fund (as defined below) in accordance with the terms and conditions of this Agreement.

  • Resignation and Removal of Escrow Agent Escrow Agent may resign from the performance of its duties hereunder at any time by giving thirty (30) days' prior written notice to the parties or may be removed, with or without cause, by the parties, acting jointly, by furnishing a Joint Written Direction to Escrow Agent, at any time by the giving of ten (10) days' prior written notice to Escrow Agent as provided herein below. Upon any such notice of resignation or removal, the representatives of the Investor(s) and the Company identified in Sections 13a.(iv) and 13b.(iv), below, jointly shall appoint a successor Escrow Agent hereunder, which shall be a commercial bank, trust company or other financial institution with a combined capital and surplus in excess of $10,000,000.00. Upon the acceptance in writing of any appointment of Escrow Agent hereunder by a successor Escrow Agent, such successor Escrow Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Escrow Agent, and the retiring Escrow Agent shall be discharged from its duties and obligations under this Escrow Agreement, but shall not be discharged from any liability for actions taken as Escrow Agent hereunder prior to such succession. After any retiring Escrow Agent's resignation or removal, the provisions of this Escrow Agreement shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Escrow Agent under this Escrow Agreement. The retiring Escrow Agent shall transmit all records pertaining to the Escrow Funds and shall pay all funds held by it in the Escrow Funds to the successor Escrow Agent, after making copies of such records as the retiring Escrow Agent deems advisable and after deduction and payment to the retiring Escrow Agent of all fees and expenses (including court costs and attorneys' fees) payable to, incurred by, or expected to be incurred by the retiring Escrow Agent in connection with the performance of its duties and the exercise of its rights hereunder.

  • Appointment and Designation of Master Servicer The Purchaser hereby appoints and designates Aurora Loan Services, Inc. as its master servicer (the "Master Servicer") for the Mortgage Loans subject to this Agreement. The Company is hereby authorized and instructed to take any and all instructions with respect to servicing the Mortgage Loans hereunder as if the Master Servicer were the Purchaser hereunder. The authorization and instruction set forth herein shall remain in effect until such time as the Company shall receive written instruction from the Purchaser that such authorization and instruction is terminated.

  • Appointment of and Acceptance by Escrow Agent The Investor(s) and the Company hereby appoint Escrow Agent to serve as Escrow Agent hereunder. Escrow Agent hereby accepts such appointment and, upon receipt by wire transfer of the Escrow Funds in accordance with Section 3 below, agrees to hold, invest and disburse the Escrow Funds in accordance with this Agreement. a. The Company hereby acknowledges that the Escrow Agent is counsel to the Investor(s) in connection with the transactions contemplated and referred herein. The Company agrees that in the event of any dispute arising in connection with this Escrow Agreement or otherwise in connection with any transaction or agreement contemplated and referred herein, the Escrow Agent shall be permitted to continue to represent the Investor(s) and the Company will not seek to disqualify such counsel.