Closure of Escrow Account. The Escrow Bank shall, at the request of the Concessionaire and the Lenders’ Representative made on or after the payment by the Concessionaire of all outstanding amounts under the Concession Agreement and the Financing Agreements including the payments specified in Clause 4.2, and upon confirmation of receipt of such payments, close the Escrow Account and Sub-Accounts and pay any amount standing to the credit thereof to the Concessionaire. Upon closure of the Escrow Account hereunder, the Escrow Agreement shall be deemed to be terminated.
Closure of Escrow Account. On termination of this Agreement, the Escrow Agent shall promptly close the Escrow Account.
Closure of Escrow Account. The Escrow Bank shall, at the request of the Licensee and the Lenders’ Representative made on or after the payment by the Licensee of all outstanding amounts under the License Agreement and the Financing Agreements including the payments specified in Clause 4.2, and upon confirmation of receipt of such payments, close the Escrow Account and Sub- Accounts and pay any amount standing to the credit thereof to the Licensee. Upon closure of the Escrow Account hereunder, the Escrow Agreement shall be deemed to be terminated. Request For Proposal - Section IIIA: List of Appendices to DLA March 2023 The Escrow Bank shall maintain the Escrow Account for the tenor of the License Period or until receipt of joint written confirmation from the Parties for the termination thereof. Upon termination of the escrow account the Escrow Bank shall transfer any balances in the account to the Licensee or to the order of the Licensee; provided there are no outstanding claims of the HMDA from the Licensee.
