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:
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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
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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 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; SBC's language is not consistent with Arbitrator's Report 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 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
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Requirements to Establish Escrow Accounts. 10.9.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 10.9.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 10.9.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 10.9.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH credit transfers. 10.9.2 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: 10.9.2.1 The escrow account must be an interest bearing account; 10.9.2.2 all charges associated with opening and maintaining the escrow account will be borne by the Disputing Party; 10.9.2.3 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;
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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
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Requirements to Establish Escrow Accounts. 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.6.1.3 The financial institution specific payment terms, late payment charges when those terms are not honored, the specific method for electronic funds transfer, escrow provisions to protect the parties while the dispute is pending and the specific dispute resolution process. As noted, these processes have been employed by SBC across SBC’s 13 operating states, among several different CLECs and have been examined and approved by Commissions across our 13 operating states. Sprint’s proposal is not as complete, does not address several situations and will lead to more disputes than actually will be resolved by the procedure set forth therein.
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Related to Requirements to Establish Escrow Accounts

  • Establishment of and Deposits to Escrow Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan constituting Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts, titled, "National City Mortgage Corp., in trust for the Purchaser of Conventional Residential Fixed Rate Mortgage Loans, Group No. 2001-1 and various Mortgagors". The Escrow Accounts shall be established with a Qualified Depository, in a manner which shall provide maximum available insurance thereunder. Funds deposited in the Escrow Account may be drawn on by the Company in accordance with Section 4.07. The creation of any Escrow Account shall be evidenced by a certification in the form of Exhibit E-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit E-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Escrow Account or Accounts on a daily basis, and retain therein:

  • Establishment of Escrow Accounts; Deposits in Escrow Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by Escrow Account Letter Agreement in the form of Exhibit 8.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Escrow Accounts Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement.

  • 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.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Operating Accounts (a) Maintain its primary operating and other deposit accounts and securities accounts with Bank and Bank’s Affiliates.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

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