Common use of Creation of Escrow Account Clause in Contracts

Creation of Escrow Account. (a) There is hereby created an escrow fund to be known as the “ Escrow Account” (the “Escrow Account”) to be held by the Escrow Agent for the purposes stated herein, for the benefit of Lessor and Lessee, to be held, disbursed and returned in accordance with the terms hereof.

Appears in 2 contracts

Samples: Master Equipment Lease/Purchase Agreement, Master Equipment Lease/Purchase Agreement

AutoNDA by SimpleDocs

Creation of Escrow Account. (a) There is hereby created an escrow fund to be known as the “Avondale 2017 Escrow Account” (the “Escrow Account”) to be held by the Escrow Agent for the purposes stated herein, for the benefit of Lessor and Lessee, to be held, disbursed and returned in accordance with the terms hereof.

Appears in 1 contract

Samples: Escrow and Account Control Agreement

AutoNDA by SimpleDocs

Creation of Escrow Account. (a) There is hereby created an escrow fund to be known as the “Lower Xxxxxx Township Escrow Account” (the “Escrow Account”) to be held by the Escrow Agent for the purposes stated herein, for the benefit of Lessor and Lessee, to be held, disbursed and returned in accordance with the terms hereof.

Appears in 1 contract

Samples: Master Lease Purchase Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.