Escrow Agents Clause Samples
The Escrow Agents clause designates a neutral third party responsible for holding funds, documents, or other assets on behalf of the parties involved in a transaction until certain conditions are met. Typically, the escrow agent receives instructions outlining when and how to release the assets, such as upon completion of contractual obligations or delivery of goods. This clause ensures that both parties are protected by preventing premature release of assets and reducing the risk of non-performance or fraud.
Escrow Agents. The Servicer shall cause all Home Purchase Contracts and Home Deeds to be delivered to an escrow agent in the applicable jurisdiction, with a notice to such agent of the interests of the Issuer and Indenture Trustee therein.
Escrow Agents. The Law Debenture Trust Corporation p.l.c. or such other person as the Primary Seller and the Primary Buyer may agree.
Escrow Agents. Buyer, and Seller desire to enter into this Agreement to provide for the holding and disbursement of the Escrow Deposit and the Closing Documents, as further set forth in this Agreement.
Escrow Agents. The Vendors’ Solicitors and the Purchaser’s Solicitors (collectively the “Escrow Agents”) shall perform only the duties expressly set forth herein. The Escrow Agents shall not have any other right, duty or obligation to manage, make any payment in respect of, vary or otherwise deal in any matters contemplated by this Agreement or to otherwise take or refrain from taking any action under or in connection with any document contemplated hereby and no implied rights, duties, covenants or obligations shall be implied into, or construed from, this Agreement.
(a) Subject to Clause 6.11 of this Agreement, the Escrow Agents may rely upon, and shall be protected in acting or refraining from acting upon, any written notice, instruction or request furnished to it hereunder and believed to be genuine and to have been signed or presented by the proper party or parties.
(b) Without limiting paragraph 4(d) below, the Vendors and the Purchaser shall jointly and severally indemnify the Escrow Agents in such proportions as the Escrow Agents shall in their absolute discretion determine to be equitable against any loss, liability, cost, claim, action, demand or expense which they (or either of them) may incur or which may be made against them as a result of or in connection with the exercise of its powers and performance of their duties hereunder, except such as may result from any fraud or dishonesty on the part of the Escrow Agents.
Escrow Agents s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ---------------------- ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ESQ.
Escrow Agents. If a dispute arises over the disposition of funds or documents deposited with any escrow agent designated herein or appointed pursuant to the provisions hereof, that results in litigation, any attorney’s fees, court costs or other related expenses incurred by said escrow agent in connection with such dispute shall be reimbursed to said escrow agent by Seller and Buyer equally.
Escrow Agents the Buyer’s Solicitors and the Sellers’ Solicitors. Escrow Amount: US$2,000,000. Escrow Bank: Barclays Bank plc of Lev▇▇ ▇▇, ▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, London E14 5HP. Escrow Letter: the letter, in agreed form, from the Buyer and the Sellers’ Representative instructing and authorising the Escrow Agents to establish and operate the Escrow Account. Estimated Cash: US$2,898,124.80, being the amount agreed between the parties as the estimate of the Cash. Estimated Indebtedness: US$0.00, being the amount agreed between the parties as the estimate of the Indebtedness. Estimated Working Capital: US$(1,161,329.20), being a negative figure and the amount agreed between the parties as the estimate of the Working Capital. Estimated Working Capital Adjustment: US$(729,439.29), being a negative figure and the amount agreed between the parties as being the estimate of the amount by which the Estimated Working Capital is less than the Target Working Capital. Excess: where X is greater than Y, an amount equal to the amount by which it is greater.
Escrow Agents. The parties do hereby designate ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Esq. and ------------- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Esq. to serve as Joint Escrow Agents hereunder. No action shall be taken by any one Escrow Agent unless approved in writing, by the other Escrow Agent. The actual Escrowed Shares shall physically be held by ▇▇. ▇▇▇▇▇▇▇. In the event the either or both of the Escrow Agents named herein shall resign or refuse to act further as Escrow Agent hereunder, without having appointing a successor Escrow Agent, the parties hereto shall mutually agree upon a successor Escrow Agent, or Agents, or in the absence of such agreement, shall apply to a court of competent jurisdiction for the appointment of same.
Escrow Agents. Vinc▇▇▇ ▇▇▇▇, ▇▇q., and Jonn▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇ll initially be the Escrow Agents and all action to be taken by them shall require their joint signatures. In the event of the resignation or death of Vinc▇▇▇ ▇▇▇▇, ▇▇s successor shall be an attorney designated by Fitz▇▇▇▇▇▇▇. ▇▇ the event of the resignation or death of Jonn▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇s successor shall be an attorney designated by Seller.
Escrow Agents the Buyer’s Solicitors and the Sellers’ Solicitors. Escrow Bank: Lloyds Bank plc of ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇. Escrow Letters: the letters, in the agreed form, to be signed by the Buyer, LDC and the Seller’s Representative instructing and authorising the Escrow Agents to establish and operate the First Escrow Account and the Second Escrow Account.