Common use of Establishment of Escrow Accounts Clause in Contracts

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. 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.