Establishment of Escrow Accounts Sample Clauses

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HOSPITALITY PROPERTIES, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to either the Escrow Agent or the Company. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks and issue a check made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.

Establishment of Escrow Accounts. Deposits in Escrow. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by a certification in the form shown on Exhibit 5.06-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form shown on Exhibit 5.06-2 attached hereto, in the case of an account held by a depository other than the Servicer, such depository having been consented to by the Purchaser. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser.

Establishment of Escrow Accounts. Purchaser shall establish and maintain all escrow accounts that are to be maintained in connection with the Mortgage Loans in accordance with the requirements set forth in the -Servicing Agreement. Purchaser shall fund the newly established escrow accounts for each Mortgage Loan on the basis of the escrow account balance information provided by Current Servicer for that Mortgage Loan pursuant to Paragraphs 4(a)(8) and 4(b)(1) above.

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Establishment of Escrow Accounts. Prime Clerk, in its capacity as Escrow Agent, is authorized to establish the Escrow Accounts with financial institutions in the name of and as agent for the Debtors. The Escrow Agent may, in its discretion, establish such accounts using a Debtor’s tax identification number or Prime Clerk’s tax identification number with a Debtor or the Debtors as beneficiary thereof.

Establishment of Escrow Accounts. (i) The Escrow Issuer hereby appoints the Escrow Agent, and the Trustee accepts such appointment of Escrow Agent, as the escrow agent for the purposes set forth herein, and the Escrow Agent hereby accepts such appointment under the terms and conditions set forth herein. Concurrently with the execution and delivery hereof, the Escrow Agent may establish escrow accounts consisting of one or more securities accounts (collectively, the “Securities Account”), separate from one or more demand deposit accounts (collectively, the “Cash Account”), each in the name of Escrow Issuer, entitled “JPM as E/A for UMB Bank, N.A., as Trustee/Akumin Escrow Inc., Escrow Issuer, dated August 9, 2021” (the Securities Account and Cash Account collectively, the “Escrow Accounts”). As provided in the Indenture, on the Escrow Funding Date, Escrow Issuer will deposit, or caused to be deposited, with the Escrow Agent into the Escrow Accounts, as applicable, in cash or by wire transfer in immediately available funds: (i) $375,000,000, representing the gross proceeds from the offering of the Notes (the “Proceeds”) and (ii) $6,015,625 (the “Initial Interest Deposit”), representing an amount that, when taken together with the Proceeds, is sufficient to fund a Special Mandatory Redemption of the Notes on October 25, 2021, if a Special Mandatory Redemption were to occur on such date, and the Escrow Agent shall acknowledge via email to the Parties its receipt of the Proceeds and the Initial Interest Deposit. (ii) Concurrently with the delivery of an Extension Notice, the Escrow Issuer shall, deposit, or caused to be deposited, with the Escrow Agent into the applicable Escrow Account, in cash or by wire transfer in immediately available funds, the Additional Interest Deposit required for the applicable Extended Outside Date requested in the applicable Extension Notice. Neither the Escrow Agent nor the Trustee shall be responsible for the accuracy of or for calculating the amounts required to be deposited as Additional Interest Deposits, which calculations shall be the sole responsibility of the Escrow Issuer. The Escrow Agent shall acknowledge via email to the Parties its receipt of each Additional Interest Deposit. (iii) The Escrow Agent shall accept the Proceeds, the Initial Interest Deposit and each Additional Interest Deposit (collectively, the “Aggregate Escrow Deposit”) and shall hold such funds and the proceeds thereof in the Escrow Accounts to be invested in Escrow Investments. All a...

Establishment of Escrow Accounts. Concurrently with the execution hereof and pursuant to the Merger Agreement, Acquiror will deliver (a) $1,500,000 in cash (the "▇▇▇▇▇▇▇▇ Escrow Amount") to an account designated by the Escrow Agent as the "▇▇▇▇▇▇▇▇ Escrow Account, which amount shall be held as security for certain payment obligations, if any, due from Acquiror to ▇▇▇▇▇▇▇▇ in accordance with the Amended Employment Agreement, and (b) $2,000,000 in cash (the "Indemnification Escrow Amount") to an account designated by the Escrow Agent as the "▇▇▇▇▇▇ Escrow Account," which amount shall be held as security for the indemnification obligations of the Target's shareholders to Acquiror Indemnified Parties in accordance with Article II of the Merger Agreement. The ▇▇▇▇▇▇▇▇ Escrow Amount, together with any Interest (as hereinafter defined) earned thereon from any investment thereof hereunder, is hereinafter referred to as the "▇▇▇▇▇▇▇▇ Escrowed Property," and the Indemnification Escrow Amount, together with any Interest thereon from any investment thereof hereunder, is hereinafter referred to as the "Indemnification Escrowed Property and the sum of the foregoing amounts is hereinafter referred to as the "Escrowed Property." The Escrowed Property and any interest, dividends, income, or other proceeds earned thereon from and after the Closing Date (the "Interest") shall be held, administered and disposed of by the Escrow Agent in accordance with the terms and conditions hereinafter set forth.

Establishment of Escrow Accounts. Buyer and the Seller Parties hereby authorize the Escrow Agent to establish an escrow account (the "Escrow Account") to hold the Escrow Property. Buyer has delivered to the Escrow Agent the Holdback Cash upon execution of this Escrow Agreement, and Globe has delivered to the Escrow Agent the Holdback Shares upon execution of this Agreement. The Escrow Property shall be held, administered and disposed of by the Escrow Agent in accordance with the terms and conditions hereinafter set forth.

Establishment of Escrow Accounts. On or prior to , 2008, the Company shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled “ , ESCROW AGENT FOR CNL INCOME PROPERTIES, INC.” (the “Escrow Account”). All monies deposited in the Escrow Account are hereinafter referred to as the “Escrowed Funds.” The Company will cause Soliciting Dealers to instruct subscribers to make Payments for subscriptions payable to the order of the Escrow Agent or the Company. Soliciting Dealers that are “$250,000 broker-dealers” may be authorized to instruct their customers to make Payments payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers’ Payments and issue funds made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds for deposit into the Escrow Account.