Requirements to Establish Escrow Accounts Sample Clauses
Requirements to Establish Escrow Accounts. 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:
11.10.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States;
11.10.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and
11.10.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH credit transfers.
11.10.2 In addition to the foregoing requirements for the Third Party escrow agent, the Disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria:
11.10.2.1 The escrow account must be an interest bearing account;
11.10.2.2 all charges associated with opening and maintaining the escrow account will be borne by the Disputing Party;
11.10.2.3 that none of the funds deposited into the escrow account or the interest earned ▇▇▇▇▇▇▇ may be used to pay the financial institution’s charges for serving as the Third Party escrow agent;
11.10.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and
11.10.2.5 disbursements from the escrow account will be limited to those:
11.10.2.5.1 authorized in writing by both the Disputing Party and the Billing Party (that is, signature(s) from representative(s) of the Disputing Party only are not sufficient to properly authorize any disbursement); or
11.10.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 13.7 below; or
11.10.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 13.7 below.
Requirements to Establish Escrow Accounts. 3.5.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 3.
5.1. 1The financial institution proposed as the Third Party escrow agent must be located within the continental United States;
3.5.1. 2The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and
3.5.1. 3The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers.
3.5.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria:
3.5.2.1 The escrow account must be an interest bearing account;
3.5.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party;
3.5.2.3 that none of the funds deposited into the escrow account or the interest earned ▇▇▇▇▇▇▇ may be used to pay the financial institution’s charges for serving as the Third Party escrow agent;
3.5.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; to the extent the amount of accrued interest on the principal to be paid to the Billing Party does not exceed the amount of Late Payment Charges due on such principal. Any accrued interest on the principal to be paid to the Billing Party that is in excess of the Late Payment Charges on such principal shall be paid to the Non-Paying Party. To the extent that the amount of the Late Payment Charges on the principal due to the Billing Party is in excess of the amount of accrued interest on such principal, the difference shall be paid according to Section 3.6.1.3 of the Amendment; and
3.5.2.5 disbursements from the escrow account will be limited to those:
3.5.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or
3.5.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 12 of the General Terms and Conditions of this Agreement; or
3.5.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitra...
Requirements to Establish Escrow Accounts. 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:
11.10.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; Page 32 of 301 Contract Id: 8521025 General Terms and Conditions/AT&T-21STATE Page 28 of 55 MEDIA LINK Version: 2Q17 – ICA – 06/29/17
10.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and
Requirements to Establish Escrow Accounts. To be acceptable, the Third Party escrow agent must meet all of the following criteria:
Requirements to Establish Escrow Accounts. 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:
11.10.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States;
11.10.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and
11.10.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH credit transfers.
11.10.2 In addition to the foregoing requirements for the Third Party escrow agent, the Disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria:
11.10.2.1 The escrow account must be an interest bearing account; Page 33 of 370 Contract Id: 4236325
Requirements to Establish Escrow Accounts. Sprint's language is most consistent with Arbitrator's Report 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: SBC's language is not consistent with Arbitrator's Report 8.6.
Requirements to Establish Escrow Accounts. 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:
11.10.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States;
11.10.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and
11.10.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH credit transfers.
11.10.2 In addition to the foregoing requirements for the Third Party escrow agent, the Disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria:
11.10.2.1 The escrow account must be an interest bearing account;
11.10.2.2 all charges associated with opening and maintaining the escrow account will be borne by the Disputing Party;
11.10.2.3 that none of the funds deposited into the escrow account or the interest earned thereon may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; Page 34 of 847 Contract Id: 88399114187796 ACCEPTED FOR PROCESSING - 2018 November 7 7:10 AM - SCPSC - 2018-350-C - Page 34 of 299 AIRUS 11.10.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and
Requirements to Establish Escrow Accounts. SBC's language is not consistent with Arbitrator's Report Attachment I.A Detailed Language Decision Matrix DP Issue: Section 1 - General Terms and Conditions
Requirements to Establish Escrow Accounts. The Non-Paying Party shall not be required to place Disputed Amounts in escrow, as required by Section 8.4, above, if: (i) the Non-Paying Party does not have a proven history of late payments and has established a minimum of twelve consecutive (12) months credit history with the Billing Party (prior to the date it notifies the Billing Party of its billing dispute); and (ii) at least 50% of the disputed charges that have been resolved in the preceding twelve