ESCROW AGENT AND DEPOSIT Sample Clauses

ESCROW AGENT AND DEPOSIT. The escrow agent shall be ▇▇▇▇▇, Weidenmiller, ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇, LLP (“Escrow Agent”), The Deposit will be held by Escrow Agent in a non-interest- bearing account in accordance with the Escrow Agreement between Escrow Agent and Developer, and its assigns. Escrow Agent will provide a receipt for the Deposit to Buyer.
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ESCROW AGENT AND DEPOSIT. (a) The escrow agent referred to in Paragraph 2 above shall be Smith, Stratton, Wise, Herher & ▇▇▇▇▇▇▇, attorneys at Law, (600 College Road-East, Princeton, N.J. 08540) (hereinafter referred to as "Escrow Agent"). The Escrow Agent shall hold the deposit and interest accrued thereon (hereinafter "escrow funds") pursuant to an ESCROW AGREEMENT, the form being attached to this AGREEMENT as Schedule C. (b) Upon closing of title, the Escrow Agent shall deliver the escrow funds to Seller. Purchaser shall be entitled to a credit against the purchase price for the deposit but not the interest. (c) In the event that pursuant to this Agreement or by mutual consent of Seller and Purchaser this Agreement is terminated, the Escrow Agent shall deliver the deposit and all interest earned thereon to the Purchaser. In that event, the Purchaser herein agrees to execute any and all documents necessary to confirm that Purchaser shall be liable to any taxing authority for taxes with respect to such interest. The Purchaser's obligation herein shall survive the termination of this Agreement. (d) In the event that there is no closing, nor a termination of this Agreement in accordance with its terms or by mutual consent of Seller and Purchaser, and/or one party shall allege default or breach by the other party as the cause, the Escrow Agent shall continue to hold said escrow funds pending an order from a court of competent jurisdiction or mutual consent of Seller and Purchaser. SALE OF ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Page-4 -------------------------------------------------------------------------------- (e) Notwithstanding the terms of subparagraphs (c) and (d) above, the parties hereto agree that the question of which party is entitled to the deposit and when shall be governed by other paragraphs of this Agreement other than this Paragraph 4, and that this Paragraph 4 shall determine the procedures by which the Escrow Agent shall make disbursements. If Seller claims at any time that it is entitled to the escrow funds on account of any default by Purchaser, Seller shall notify Escrow Agent, in writing, requesting payment to Seller. If within ten (10) days of Escrow Agent's receipt of such notice Purchaser has not objected to the payment thereof to Seller, Escrow Agent shall pay same to Seller. If Purchaser objects, then subparagraph (d) above shall apply. If on the date set for closing Purchaser does not object, in writing, to the payment of the escrow funds to Seller in accordance with Par...
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ESCROW AGENT AND DEPOSIT. The escrow agent shall be Woods, Cona Law (“Escrow Agent”), The Deposit will be held by Escrow Agent in a non-interest-bearing account in accordance with the Escrow Agreement between Escrow Agent and Developer, and its assigns. Escrow Agent will provide a receipt for the Deposit to Buyer.
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ESCROW AGENT AND DEPOSIT. The Deposit shall be held by Escrow Agent in an interest-bearing account in accordance with requirements set forth in Exhibit B. If the Closing occurs, then, subject to the procedures set forth in Exhibit B, Escrow Agent shall deliver the Deposit to Seller for application toward the Purchase Price. In the event that the Closing does not occur by the Closing Date, subject to the procedures set forth in Exhibit B, the Deposit shall be paid to the Party entitled to receive the Deposit in accordance with the terms of this Agreement. Any taxes due on interest income with respect to the Deposit shall be the sole responsibility of the Party receiving such interest. The provisions of this Section 2.2(b) shall survive any termination of this Agreement.
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ESCROW AGENT AND DEPOSIT. The Purchaser shall deliver the Initial Deposit and Additional Deposit to the Escrow Agent. The Escrow Agent shall deposit the funds in an interest bearing account. In the event the Purchaser provides the Seller a timely termination notice pursuant to Section 4, then the Escrow Agent, subject to Section 4 (b), shall deliver to the Purchaser the Initial Deposit plus any interest earned thereon. In the event that the transactions set forth in this Agreement do not close due to the failure of a condition to the Closing specified in Section 13 of this Agreement, at the Purchaser's election, the Escrow Agent shall deliver the Deposit, plus any interest earned thereon, to the Purchaser. In the event the Purchaser does not or fails to give timely notice to the Seller under Section 4 and all the conditions of the Closing under Section 13 have been met, and the Purchaser fails to close, then the Escrow Agent shall deliver the Deposit, plus any interest earned thereon, to the Seller.
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ESCROW AGENT AND DEPOSIT 
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Related to ESCROW AGENT AND DEPOSIT

  • Escrow Agent’s Fee The Escrow Agent shall be entitled to compensation for its services as stated in the fee schedule attached hereto as Exhibit D, which compensation shall be paid by the Company. The fee agreed upon for the services rendered hereunder is intended as full compensation for the Escrow Agent’s services as contemplated by this Agreement; provided, however, that if the conditions for the disbursement of funds under this Agreement are not fulfilled, or the Escrow Agent renders any material service not contemplated in this Agreement, or there is any assignment of interest in the subject matter of this Agreement, or any material modification hereof, or if any material controversy arises hereunder, or the Escrow Agent is made a party to any litigation pertaining to this Agreement, or the subject matter hereof, then the Escrow Agent shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses, including reasonable attorney’s fees, occasioned by any delay, controversy, litigation or event, and the same shall be recoverable from the Company. The Company’s obligations under this Section 8 shall survive the resignation or removal of the Escrow Agent and the assignment or termination of this Agreement.

  • Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.

  • Escrow Deposit Concurrently with the execution and delivery of this Agreement, the Holder will deliver [the sum of ____________________ Dollars ($_____________) in lawful money of the United States of America by wire transfer of immediately available funds] [and] [[ ] Class A Trust Certificates] [and] [[ ] Class B Trust Certificates] in accordance with Section 14 of the Series Supplement] (the "Escrow Deposit"), to Escrow Agent to be held by Escrow Agent in escrow on the terms and conditions hereinafter provided. Escrow Agent hereby acknowledges receipt of the Escrow Deposit. Any cash amounts in the Escrow Deposit may be increased or decreased in accordance with the terms of Section 2.02(i)(vi) of the Warrant Agreement and the terms of this agreement will apply with equal force and effect to any such increased or decreased cash amounts in the Escrow Deposit.

  • Escrow Agent Prior to entering into an escrow agreement, the Registry Operator must provide notice to ICANN as to the identity of the Escrow Agent, and provide ICANN with contact information and a copy of the relevant escrow agreement, and all amendments thereto. In addition, prior to entering into an escrow agreement, Registry Operator must obtain the consent of ICANN to (a) use the specified Escrow Agent, and (b) enter into the form of escrow agreement provided. ICANN must be expressly designated as a third-­‐party beneficiary of the escrow agreement. ICANN reserves the right to withhold its consent to any Escrow Agent, escrow agreement, or any amendment thereto, all in its sole discretion.

  • Escrow Agent Fees Escrow Administration Fee: $100.00 for each break letter after the first four $750.00 escrow account fee The fees quoted in this schedule apply to services ordinarily rendered in the administration of an Escrow Account and are subject to reasonable adjustment based on final review of documents, or when the Escrow Agent is called upon to undertake unusual duties or responsibilities, or as changes in law, procedures, or the cost of doing business demand. Services in addition to and not contemplated in this Escrow Agreement, including, but not limited to, document amendments and revisions, non-standard cash and/or investment transactions, calculations, notices and reports, and legal fees, will be billed as extraordinary expenses. Extraordinary fees are payable to the Escrow Agent for duties or responsibilities not expected to be incurred at the outset of the transaction, not routine or customary, and not incurred in the ordinary course of business. Payment of extraordinary fees is appropriate where particular inquiries, events or developments are unexpected, even if the possibility of such things could have been identified at the inception of the transaction. Unless otherwise indicated, the above fees relate to the establishment of one escrow account. Additional sub-accounts governed by the same Escrow Agreement may incur an additional charge. Transaction costs include charges for wire transfers, internal transfers and securities transactions.