Funds in Escrow Sample Clauses

The 'Funds in Escrow' clause establishes that certain monies related to the agreement will be held by a neutral third party, known as the escrow agent, until specified conditions are met. Typically, this means that payment from one party is deposited into an escrow account and only released to the other party once contractual obligations—such as delivery of goods or completion of services—are fulfilled. This arrangement protects both parties by ensuring that funds are securely held and only transferred when agreed-upon terms are satisfied, thereby reducing the risk of non-payment or non-performance.
Funds in Escrow. FGH shall have made arrangements for payment of (1) the costs and expenses incurred by Pacific in connection with this Agreement and the transactions contemplated hereby and (2) the amounts payable by Pacific set forth in a letter provided by Pacific to FGH on the date hereof, in each instance in accordance with Section 6.2. Such arrangements shall include, at FGH’s discretion, placement of the sum of $100,000 (less the $25,000 previously paid pursuant to a letter of intent) into either (i) escrow in the client trust account for ▇▇▇▇▇▇ & ▇▇▇▇▇, L.L.P. or (ii) an account to be designated by Pacific, with disbursement of funds from any such account (contemporaneously with Closing) to be made in either case upon written authorization, at Closing, from the Chief Executive Officer of FGH.
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Funds in Escrow. A minimum of $50,000,000 shall be in an escrow account at Sterling Bank in connection with the Financing.
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Funds in Escrow. A minimum of Two Million Five Hundred Thousand Dollars ($2,500,000) shall be in an escrow account at JP Morgan Chase, or another bank, subject to an escrow agreement which ▇▇▇▇▇▇▇▇ such funds to the post-Transaction AMI, for use as dictated by that certain Term Sheet dated April 15, 2002, upon the Closing of the Transaction contemplated by this Agreement.
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Funds in Escrow. On the forty-five (45) day anniversary of the Effective Date, the Lender shall review and determine, in its sole and absolute discretion, if the Two Hundred Fifty Thousand and No/100 United States Dollars (US$250,000) of the Revolving Loan Commitment held in Lender’s escrow on the Effective Date shall be released by the Lender to the Borrower in accordance with the terms of this Agreement.
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Funds in Escrow. All funds received in the Escrow shall be deposited by the Escrow Holder in a general escrow account with any state or national bank doing business in the State of California and reasonably approved by the Executive Director and Developer, and such funds may be combined with other escrow funds of the Escrow Holder. All disbursements shall be made on the basis of a thirty (30) day month.‌
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Funds in Escrow. Unless the City elects to terminate this Agreement pursuant to Section 16A.i. below, the Parties shall establish a strict joint order escrow account, and the City shall deposit into said account an amount of money equal to the Fair Market Value of the Western Park Site within thirty (30) days of IDNR’s certification of same pursuant to Section 2 above, or such other length of time as may be mutually agreed upon by the Parties. The Parties agree that such escrowed monies are held for the benefit of the Park District to use in connection with the Park District’s acquisition of Replacement Park Property following the IDNR conversion process related to Golden ▇▇▇▇▇▇▇ Park and the Stormwater Sites.
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Funds in Escrow. SLW shall have in escrow $1,200,000.00 raised in connection with the offering of SLW Common Stock to accredited investors through the PPO, as defined in Section 2.2.2.
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Funds in Escrow. Halo shall have made arrangements for payment of (1) the costs and expenses incurred by GVC in connection with this Agreement and the transactions contemplated hereby and (2) the amounts payable by GVC set forth in a letter provided by GVC to Halo on the date hereof, in each instance in accordance with Section 6.2. Such arrangements shall include, at Halo’s discretion, placement of the sum of $250,000 into either (i) escrow in the client trust account for S▇▇▇▇▇ & Stone, L.L.P. or (ii) an account to be designated by GVC, with disbursement of funds from any such account (contemporaneously with Closing) to be made in either case upon written authorization from the Chief Executive Officer of Halo.
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Funds in Escrow. 34 6.3.4 Receipt of Order to Cancel . . . . . . . . . . . . . . . . . . 34 6.3.5 Performance of Obligations of SLW. . . . . . . . . . . . . . . 34 6.3.6
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Related to Funds in Escrow

  • Deposits into Escrow Account (a) Issuer Party shall direct Subscribers to, and Subscribers shall, directly deliver to NCPS all Cash Investment Instruments for deposit in the Escrow Account. Each such direction shall be accompanied by a Subscription Accounting. ALL FUNDS DEPOSITED INTO THE ESCROW ACCOUNT PURSUANT TO THIS SECTION 3 SHALL REMAIN THE PROPERTY OF EACH SUBSCRIBER ACCORDING TO SUCH SUBSCRIBER’S INTEREST AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY NCPS OR BY JUDGMENT OR CREDITORS’ CLAIMS AGAINST ISSUER PARTY UNTIL RELEASED OR ELIGIBLE TO BE RELEASED TO ISSUER IN ACCORDANCE WITH SECTION 4(a). ISSUER PARTY SHALL NOT RECEIVE CASH INVESTMENT INSTRUMENTS DIRECTLY FROM SUBSCRIBERS. (b) Issuer Party understands and agrees that all Cash Investment Instruments received by NCPS pursuant to this Agreement are subject to collection requirements of presentment, clearing and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. NCPS shall process each Cash Investment Instrument for collection promptly upon receipt, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4. If, upon presentment for payment, any Cash Investment Instrument is dishonored, NCPS’s sole obligation shall be to notify Issuer Party of such dishonor and, if applicable, to promptly return such Cash Investment Instrument to Subscriber. Notwithstanding, if for any reason any Cash Investment Instrument is uncollectible after payment or disbursement of the funds represented thereby has been made by NCPS, Issuer Party shall immediately reimburse NCPS upon receipt from NCPS of written notice thereof, including, without limitation, any fees or expenses with respect thereto, which NCPS may collect from Issuer Party pursuant to Section 10. (c) Upon receipt of any Cash Investment Instrument that represents payment of an amount less than or greater than the Cash Investment, NCPS’s sole obligation shall be to notify Issuer Party, depending upon the source of the of the Cash Investment Instrument, of such fact and to pay to Subscriber by the same method the amount of the Cash Investment received by NCPS from such Subscriber or promptly return to Subscriber such Subscriber’s Cash Investment Instrument upon receipt from Subscriber of any required payment instructions; provided that amounts in excess of $25,000 will be returned via wire transfer upon confirmation by NCPS of Subscriber’s account information. (d) NCPS shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not properly made payable or endorsed as set forth in Section 1(d). (e) Issuer Party shall, or cause Subscriber to, provide NCPS with information sufficient to effect such return to Subscriber as outlined in this Section 3, including, without limitation, updated payment information in the event a return to Subscriber for any reason cannot be made by the same method as received by NCPS. (f) In the event any party other than NCPS receives a Cash Investment Instrument, Issuer Party agrees to promptly, and in no event later than one Business Day after receipt, deliver or cause to be delivered such Cash Investment Instrument to NCPS for deposit into the Escrow Account.

  • Disbursements from the Escrow Account a. At such time as Escrow Agent has collected and deposited instruments of payment in the total amount of the Advance and has received such Common Stock via D.W.A.C from the Company which are to be issued to the Investor pursuant to the Standby Equity Distribution Agreement, the Escrow Agent shall notify the Company and the Investor. The Escrow Agent will continue to hold such funds until the Investor and Company execute and deliver a Joint Written Direction directing the Escrow Agent to disburse the Escrow Funds pursuant to Joint Written Direction at which time the Escrow Agent shall wire the Escrow Funds to the Company. In disbursing such funds, Escrow Agent is authorized to rely upon such Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Investor that Escrow Agent already has on file. Simultaneous with delivery of the executed Joint Written Direction to the Escrow Agent the Investor and Company shall execute and deliver a Common Stock Joint Written Direction to the Escrow Agent directing the Escrow Agent to release via D.W.A.C to the Investor the shares of the Company's Common Stock. In releasing such shares of Common Stock the Escrow Agent is authorized to rely upon such Common Stock Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Escrow Agent has on file. In the event the Escrow Agent does not receive the amount of the Advance from the Investor or the shares of Common Stock to be purchased by the Investor from the Company, the Escrow Agent shall notify the Company and the Investor.

  • Withdrawals From Escrow Account Withdrawals from the Escrow Account shall be made by the Seller only (a) to effect timely payments of ground rents, taxes, assessments, premiums for Primary Mortgage Insurance Policies, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage, (b) to reimburse the Seller for any Servicing Advance made by Seller pursuant to Subsection 11.08 hereof with respect to a related Mortgage Loan, (c) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (d) for transfer to the Custodial Account upon default of a Mortgagor or in accordance with the terms of the related Mortgage Loan and if permitted by applicable law, (e) for application to restore or repair of the Mortgaged Property, (f) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (g) to pay to itself any interest earned on funds deposited in the Escrow Account (and not required to be paid to the Mortgagor), (h) to the extent permitted under the terms of the related Mortgage Note and applicable law, to pay late fees with respect to any Monthly Payment which is received after the applicable grace period, (i) to withdraw suspense payments that are deposited into the Escrow Account, (j) to withdraw any amounts inadvertently deposited in the Escrow Account or (k) to clear and terminate the Escrow Account upon the termination of this Agreement.

  • Deposits in the Escrow Account During the Escrow Period, persons subscribing to purchase Shares (“Subscribers”) will be instructed by the Company, the Dealer Manager and the Participating Broker-Dealers to make checks for subscriptions payable to the order of “UMB Bank, N.A., as Escrow Agent for NexPoint Capital, Inc.” or any recognizable abbreviation thereof. Completed subscription agreements and checks in payment for the subscription amount shall be remitted to the Transfer Agent at the address set forth in the subscription agreement. The Dealer Manager, the Company or their respective agents, as applicable, shall remit to the Escrow Agent (i) such instrument of payment, and (ii) each Subscriber’s name, address, number of Shares purchased by such Subscriber and the subscription payment remitted by such Subscriber by noon of the next business day following receipt of any such instruments of payment or, if final internal supervisory review is conducted at a different location, by the end of the next business day following receipt of any such instruments of payment by the office conducting final internal supervisory review. The Escrow Agent represents that the Transfer Agent will promptly deliver all monies received in good order from Subscribers for the payment of Shares to the Escrow Agent for deposit in the Escrow Account. All instruments of payment delivered to the Escrow Agent pursuant hereto shall be deposited by the Escrow Agent within one (1) business day of receipt thereof into the Escrow Account. Deposits shall be held in the Escrow Account until such Investor Funds are promptly disbursed in accordance with this Agreement. Investor Funds shall be held in the Escrow Account until they are promptly disbursed in accordance with this Section 2. Prior to disbursement of the Investor Funds deposited in the Escrow Account, such funds shall not be subject to claims by creditors of the Company, the Dealer Manager, any Participating Broker-Dealer or any of their respective affiliates. If any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to receipt of the Minimum Offering Requirement, the Escrow Agent shall promptly notify the Dealer Manager and the Company in writing via mail, email or facsimile of such nonpayment, and is authorized to debit the Escrow Account in the amount of such returned payment.

  • Unused Escrow Funds In the event that a Closing does not occur when required under the Contract, or in the event that the Closing does occur but Escrow Funds remain in an account with Escrow Agent, the Escrow Agent shall notify OPWC in writing promptly thereafter. After receipt of such notice, OPWC shall deliver written instructions to Escrow Agent directing Escrow Agent’s release of the Escrow Funds. Immediately upon Escrow Agent’s receipt of such notice from OPWC, Escrow Agent shall release the Escrow Funds, or balance thereof, in accordance with OPWC’s written instructions.