Release of Escrow Securities to Depositary Clause Samples
The 'Release of Escrow Securities to Depositary' clause governs the process by which securities held in escrow are transferred to a designated depositary, typically upon the satisfaction of certain conditions outlined in the agreement. In practice, this clause specifies the circumstances under which the escrow agent is authorized to release the securities, such as the completion of a transaction, receipt of required approvals, or fulfillment of contractual obligations. Its core function is to ensure that the transfer of securities is conducted in a controlled and transparent manner, thereby protecting the interests of all parties and reducing the risk of disputes over the timing or conditions of release.
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Release of Escrow Securities to Depositary. (1) The Escrow Agent will release from escrow the tendered escrow securities provided that:
(a) you or the Issuer make application to release the tendered securities under the Policy on a date at least 10 business days and not more than 30 business days prior to the date of the proposed release date; and
(b) the Exchange does not provide notice of its objection to the Escrow Agent prior to 10:00 a.m. (Vancouver time) or 11:00 a.m. (Calgary time) on such specified date;
(c) the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that
(i) the terms and conditions of the business combination have been met or waived; and
(ii) the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination.
Release of Escrow Securities to Depositary. The Escrow Agent will release from escrow the tendered escrow securities when the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that:
(a) the terms and conditions of the business combination have been met or waived; and
(b) the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination.
Release of Escrow Securities to Depositary. (1) The Escrow Agent will release from escrow the tendered escrow securities provided that:
(a) you or the Issuer make application under the applicable Exchange Policy of the intent to release the tendered securities on a date at least 10 business days and not more than 30 business days prior to the date of the proposed release date; and
(b) the Exchange does not provide notice of its objection to the Escrow Agent prior to 10:00
a. m. (Vancouver time) or 11:00 a.m. (Calgary time) on such specified date;
(c) the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that
(i) the terms and conditions of the business combination have been met or waived; and
(ii) the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination.
Release of Escrow Securities to Depositary. (1) The Escrow Agent will release from escrow the tendered escrow securities provided that:
(a) you or the Issuer make application to release the tendered securities under the Policy on a date at least 10 business days and not more than 30 business days prior to the date of the proposed release date; and
Release of Escrow Securities to Depositary. (1) The Escrow Agent will release from escrow the tendered escrow securities provided that:
(a) you provide written notice to Big Flash of the proposed release of the tendered securities; and
(b) the Escrow Agent and Big Flash receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that
Release of Escrow Securities to Depositary. (1) The Escrow Agent will release from escrow the tendered escrow securities provided that:
(a) you or the Issuer make application to release the tendered securities under the Policy on a date at least 10 business days and not more than 30 business days prior to the date of the proposed release date; and
(b) the Exchange does not provide notice of its objection to the Escrow Agent prior to 12:00 p.m. (Toronto time);
(c) the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that
(i) the terms and conditions of the business combination have been met or waived; and
(ii) the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination. (as at June 14, 2010)
Release of Escrow Securities to Depositary. The Escrow Agent will release from escrow the tendered Escrowed Shares provided that the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the Business Combination, by that other person or company, that:
(a) the terms and conditions of the Business Combination have been met or waived; and
(b) the Escrowed Shares have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the Business Combination.
Release of Escrow Securities to Depositary. The Escrow Agent will release from escrow the tendered Escrow Securities when the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the Business Combination, by that other person or company, that:
(a) the terms and conditions of the Business Combination have been met or waived; and
(b) the Escrow Securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the Business Combination.
Release of Escrow Securities to Depositary. (a) The Escrow Agent will release from escrow the tendered escrow securities provided that:
(i) the Securityholder or the Issuer notify the Escrow Agent of the intent to release the tendered securities on a date at least 10 business days and not more than 30 business days prior to the date of the proposed release date; and
(ii) the Issuer does not provide notice of its objection to the Escrow Agent prior to 10:00 a.m. (Vancouver time) or 1:00 PM. (Toronto time) on such specified date;
(iii) the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that
(iv) the terms and conditions of the business combination have been met or waived; and
(v) the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination.
Release of Escrow Securities to Depositary. The Escrow Agent will release from escrow the tendered escrow securities provided that: you or the Issuer make application under the applicable Exchange Policy of the intent to release the tendered securities on a date at least 10 business days and not more than 30 business days prior to the date of the proposed release date; and the Exchange does not provide notice of its objection to the Escrow Agent prior to 10:00 a.m. (Vancouver time) or 11:00 a.m. (Calgary time) on such specified date; the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that the terms and conditions of the business combination have been met or waived; and the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination. If you receive securities (new securities) of another issuer (successor issuer) in exchange for your escrow securities, the new securities will be subject to escrow in substitution for the tendered escrow securities. The Escrow Agent will send to a Securityholder share certificates or other evidence of the Securityholder’s new securities as soon as reasonably practicable after the Escrow Agent receives: