Escrow Holder Clause Samples
The Escrow Holder 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. In practice, this clause outlines the duties of the escrow holder, such as safeguarding the assets, releasing them only upon fulfillment of specified terms, and providing instructions for dispute resolution if disagreements arise. Its core function is to ensure security and trust between parties by preventing premature release of assets and reducing the risk of non-performance or fraud.
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Escrow Holder. Seller and Buyer covenant and agree that in performing any of its duties under this Agreement, Title Company shall not be liable for any loss, costs or damage which it may incur as a result of serving as Escrow Holder hereunder, except for any loss, costs or damage arising out of its willful default or gross negligence. Accordingly, Title Company shall not incur any liability with respect to (i) any action taken or omitted to be taken in good faith upon advice of its counsel given with respect to any questions relating to its duties and responsibilities, or (ii) to any action taken or omitted to be taken in reliance upon any document, including any written notice of instruction provided for in this Agreement, not only as to its due execution and the validity and effectiveness of its provisions, but also to the truth and accuracy of any information contained therein, which Title Company shall in good faith believe to be genuine, to have been signed or presented by a proper person or persons and to conform with the provisions of this Agreement.
Escrow Holder. At the Close of Escrow, Escrow Holder will promptly undertake all of the following:
(a) Cause the Grant Deed (with documentary transfer tax information to be affixed AFTER recording) to be recorded with the County Recorder and obtain conformed copies thereof for distribution to Buyer and Seller.
(b) Direct the Title Company to issue the Title Policy to Buyer within 15 BUSINESS DAYS after Closing.
(c) Deliver to Buyer the FIRPTA Certificate, the Form 590 and any other documents (or copies thereof) deposited into Escrow by Seller. Deliver to Seller any other documents (or copies thereof) deposited into Escrow by Buyer.
(d) Notify the Transfer Agent by telephone and facsimile that the Close of Escrow has occurred.
Escrow Holder. 14 13.2 By Transfer Agent . . . . . . . . . . . . . . . . . . . . . . . . . 14
Escrow Holder. The ▇▇▇▇▇▇▇ Money shall be delivered to Chicago Title Insurance Company, Two Gateway Center, 19th Floor, 603 Stanwix Street, Pittsburgh, Pennsylvania 15222- 1402, with the individual contact being ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ at (▇▇▇) ▇▇▇-▇▇▇▇ and ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇ ("Escrow Holder"). Escrow Holder shall deposit and hold the ▇▇▇▇▇▇▇ Money in Escrow Holder's escrow account which is a non-interest bearing account at an FDIC insured financial institution.
Escrow Holder. The Closing shall occur through the Escrow opened at the Escrow Holder named in Section 1.4. Escrow Holder is designated, authorized and instructed to act as Escrow Holder pursuant to the terms of this Agreement.
Escrow Holder. Each stock certificate representing issued and outstanding Unvested Shares shall be held in escrow by the Escrow Holder, together with a stock assignment executed in blank by the Optionee with respect to the Unvested Shares represented by such stock certificate. Each stock certificate representing Unvested Shares shall be held in escrow pursuant to this Section 8 until all of such Unvested Shares become fully vested pursuant to, and in accordance with, the provisions of Section 6 or Section 7 hereof or until all of such Unvested Shares are repurchased by the Company pursuant to, and in accordance with, the provisions of Section 7 hereof, whichever occurs earlier.
Escrow Holder. Escrow Holder shall not be liable: (i) to any of the parties for any act or omission to act, except for its own negligence or willful misconduct; (ii) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Holder or exchanged by the parties hereunder, whether or not Escrow Holder prepared such instrument; (iii) for any loss or impairment of funds that have been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (iv) for the expiration of any time limit or other consequence of delay, unless such time limit is expressly set forth in this Agreement or in a properly executed written instruction, accepted by Escrow Holder, has instructed Escrow Holder to comply with said time limit; and (v) for the default, error, action or omission of either party to the escrow. Escrow Holder, in its capacity as escrow holder, shall be entitled to rely on any document or paper received by it, believed by such Escrow Holder, in good faith, to be bona fide and genuine. In the event of any dispute as to the disposition of the Deposit or any other monies held in escrow, or of any documents held in escrow, Escrow Holder may, if such Escrow Holder so elects, interplead the matter by filing an interpleader action in a court of competent jurisdiction in Riverside County, California, and pay into the registry of the court the Deposit, or deposit any such documents with respect to which there is a dispute in the registry of such court, whereupon such Escrow Holder shall be relieved and released from any further liability with respect to the Deposit as Escrow Holder hereunder. Escrow Holder shall not be liable for Escrow Holder’s compliance with any legal process, subpoena, writ, order, judgment and decree of any court, whether issued with or without jurisdiction, and whether or not subsequently vacated, modified, set aside or reversed.
Escrow Holder. The escrow holder shall be Commonwealth Land Title Insurance Company (“Escrow Holder”), whose address is ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Escrow Officer: ▇▇▇ ▇▇▇▇▇; Telephone: (▇▇▇) ▇▇▇-▇▇▇▇; Telecopier: (▇▇▇) ▇▇▇-▇▇▇▇.
Escrow Holder. The escrow holder shall be Chicago Title Company ("ESCROW HOLDER"), whose address is ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, Irvine, California 92606, Escrow Officer: ▇▇▇ ▇▇▇▇▇; Telephone: (▇▇▇) ▇▇▇-▇▇▇▇; Telecopier: (949) 263-0356.
Escrow Holder. Pepperdine University Real Estate Operations 24255 Pacific Coast Hwy. Malibu, CA ▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇ Telephone (▇▇▇) ▇▇▇-▇▇▇▇ Facsimile Outside Escrow Company (See Paragraph 2.4)