Common use of Deposits into Escrow Clause in Contracts

Deposits into Escrow. Seller will make its deposits into escrow in accordance with Section 1.3(c). Buyer will make (or cause to be made) its deposits into escrow in accordance with Section 1.3(b) and Section 1.3(d). The Escrow Agent is authorized to release the escrowed items only if and when: (i) the Escrow Agent has received all items and funds to be delivered (or caused to be delivered) to the Escrow Agent by Seller and Buyer pursuant to Sections 1.3(b) through and including Section 1.3(f) (or has received written notice that such item(s) have been waived from the party to whom such item(s) were to be delivered); (ii) the Title Insurer has provided written notice that it will issue upon the Closing the Owner’s Title Policy; and (iii) the Escrow Agent has received written notice from Seller that Seller has received the Estimated Closing Purchase Price Amount from Buyer (the “Funds Notice”).