Payment to Escrow Agent Sample Clauses
The 'Payment to Escrow Agent' clause defines the process by which funds are deposited with a neutral third party, known as the escrow agent, to be held until certain contractual conditions are met. Typically, this involves one party transferring payment to the escrow agent, who then safeguards the funds until obligations—such as delivery of goods or completion of services—are fulfilled. This arrangement ensures that both parties are protected: the payer knows their money will not be released until the agreed terms are satisfied, and the payee is assured of payment once they meet their obligations. The core function of this clause is to build trust and reduce risk by providing a secure and impartial mechanism for handling payments in transactions.
Payment to Escrow Agent. As payment for its services hereunder, the Escrow Agent shall receive annual charges as set forth in Escrow Agent's Escrow Storage Price List. The first such annual charges will be paid by AGCS within ten (10) days of the execution of this Escrow Agreement by all parties hereto. Each year thereafter, AGCS will pay the appropriate charges on or before the anniversary of the effective date of this Escrow Agreement. The annual fee may be adjusted by the Escrow Agent on an annual basis by the lesser of ten (10%) percent or the change in the Producers Price Index over the preceding twelve (12)
Payment to Escrow Agent. As payment for its services hereunder, the Licensor shall reimburse the Escrow Agent for its reasonable out-of-pocket expenses incurred in connection with the discharge by the Escrow Agent of its duties and responsibilities under this Escrow Agreement.
Payment to Escrow Agent. 9.1 Avis shall pay the reasonable fees charged by Escrow Agent for performance of services under this Agreement as specified on Exhibit A.
9.2 In the event that Avis is in breach of the payment of fees and such breach continues for at least thirty (30) days after Avis has received from Escrow Agent a written notice of arrears addressed as provided in Paragraph 13.5.2
Payment to Escrow Agent. Any dividends paid on Common Shares and/or distributions paid with respect to Units while they are held in escrow hereunder shall be paid to the Escrow Agent by check or wire transfer by the Trust or the Partnership, respectively. Until the Share Determination Date, dividends and distributions shall only be paid with respect to those Escrowed Shares which a Security Holder would be entitled to vote under paragraph 5 hereof. The Escrow Agent shall invest such dividends and distributions and interest earned thereon in an interest-bearing account. Until the Escrowed Shares are released to the Security Holders pursuant to paragraph 3 of this Agreement, the Escrow Agent shall treat dividends and distributions paid on the Escrowed Shares and interest earned thereon (less amounts thereof required under paragraph 6.3 hereof to pay tax obligations of the Security Holders in respect of Escrowed Shares owned by them and held in escrow hereunder) as assets of the Trust or the Partnership, as the case may be, available for distribution under the terms and conditions set forth in paragraph 10 below.
Payment to Escrow Agent. At the Closing, Buyer shall deliver the Escrow Amount (such amount, including any interest or other amounts earned thereon or added thereto and less any disbursements therefrom in accordance with the Escrow Agreement, the “Escrow Fund”) to the Escrow Agent for deposit into an escrow fund under the Escrow Agreement.
Payment to Escrow Agent. All fees and disbursements of the Escrow Agent are payable by the Proponent.
Payment to Escrow Agent. The Escrow Agent hereby acknowledges that it has agreed to accept compensation under the Agreement pursuant to the terms of Schedule B attached hereto for services to be performed by the Escrow Agent pursuant to this Agreement, plus out-of-pocket expenses to be reimbursed at cost from legally available funds of the Issuer. The Escrow Agent shall not be compensated from amounts on deposit in the Escrow Account, and the Escrow Agent shall have no lien or claim against funds in the Escrow Account for payment of obligations due it under this Section.
Payment to Escrow Agent. As payment for its services hereunder, the Escrow Agent shall receive its reasonable and customary fee, to be paid by the Licensee.
Payment to Escrow Agent. The Company agrees to pay the Escrow Agent a fee for its services under this Agreement as has been agreed by the Company and the Escrow Agent, and to reimburse the Escrow Agent upon demand for all expenses, including legal fees, reasonably incurred by the Escrow Agent in the performance of its duties hereunder.
Payment to Escrow Agent. 3 6. Termination........................................................... 3 7. Waiver, Amendment or Modification; Severability....................... 3 8. Notices...............................................................