Common use of Escrow Holdback Clause in Contracts

Escrow Holdback. Buyer and Seller agree that upon the Closing, $ of the purchase price under the Agreement (the “Holdback Amount”) shall not be released to Seller but shall instead be deposited into an escrow account with Escrow Agent. Escrow Agent shall not comingle the Holdback Amount with any other funds. The Holdback Amount: shall be invested by Escrow Agent in an interest-bearing account shall not be invested by Escrow Agent in an interest-bearing account

Escrow Holdback. Buyer and Seller agree that upon the Closing, $ of the purchase price under the Agreement (the “Holdback Amount”) shall not be released to Seller but shall instead be deposited into an escrow account with Escrow Agent. Escrow Agent shall not comingle the Holdback Amount with any other funds. The Holdback Amount: ☐ shall be invested by Escrow Agent in an interest-bearing account ☐ shall not be invested by Escrow Agent in an interest-bearing account