Common use of Establishment of Escrow Accounts Clause in Contracts

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. 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 Debtor s tax identification number or Prime Clerk’s Clerk s tax identification number with a Debtor waithDebtor or the Debtors as beneficiary thereof.