Closure of the Escrow Account. 17.4.1 The Escrow Account shall be closed upon the Termination of the SFM Agreement.
Closure of the Escrow Account. 9.1 In the event of termination of this Agreement pursuant to Clause 8.1(i) or Clause 8.1(iii), the Share Escrow Agent shall close the Escrow Account within a period of two (2) Working Days from completion of the relevant events outlined in Clause 5 and shall send a prior written intimation to the Company and the Promoter Selling Shareholder (with a copy to the BRLMs) relating to the closure of the Escrow Account.
Closure of the Escrow Account. The Escrow Account shall be closed upon the Termination of this Agreement. Upon Termination of this Agreement, all amounts standing to the credit of the Escrow Account shall, notwithstanding anything in this Agreement, be first appropriated and dealt with solely by the written instruction of IRSDC in the following order: all taxes, duties, cess and fees due and payable in respect of the Project66; payment to IRSDC of an amount equivalent to then applicable Required Amount, for the purposes of which the calculation date shall be the date of such Termination; outstanding amounts payable to IRSDC including any unpaid liquidated damages; all payments and damages certified by IRSDC as due and payable to it by the Facility Manager pursuant to the Station Facility Management Agreement, including any claims or demands in connection with or arising out of termination of the Station Facility Management Agreement; incurred or accrued O & M Expenses (other than amounts specified in (i) above); and towards discharging outstanding debt for the Project (if any), as obtained by the Facility Manager; The balance, if any, may be withdrawn from the Escrow Account in accordance with the instructions of the Facility Manager. : INSURANCE Maintenance of Insurance The Facility Manager shall effect and maintain, at its own cost during the Term all necessary insurances, including necessary xxxxxxx’x compensation insurance, other insurances for such maximum sums as may be required under Applicable Laws and such insurances as may be necessary or prudent in accordance with Good Industry Practice, in respect of the entire Project. The Facility Manager shall also effect and maintain such insurances as may be necessary for mitigating the risks that may devolve on IRSDC and/or the MoR and/ or Railway Administration as a consequence of any act or omission of the Facility Manager, its Sub-Contractors, Licensees, personnel, agents etc. Without prejudice to the generality of the foregoing, the Facility Manager shall for the duration that the Assets and the Project Utilities (or the relevant parts thereof) are in possession of the Facility Manager under this Agreement (or are otherwise required to be maintained by the Facility Manager), procure the insurance cover in respect of:
Closure of the Escrow Account. The Escrow Agent shall be entitled to close the Escrow Account without any further instruction or authority from the Escrow Parties on the date falling 28 days following distribution in full out of the Escrow Account of all the monies standing to the credit of the Escrow Account (including any interest), pursuant to clause 8.2.
