Creation of the Escrow Fund. There is hereby created and established with the Escrow Agent the following special and irrevocable separate trust fund to be held in the custody of the Escrow Agent and designated as the “Escrow Fund for General Obligation Bonds, Series 140 of 2019.”
Creation of the Escrow Fund. Upon the Closing of the Merger, Parent as Escrow Agent shall hold in an account 160,000 shares of Parent Common Stock (the "Escrow Shares"), such deposit to constitute an escrow fund (the "Escrow Fund") to be governed by the terms set forth herein. The Escrow Shares shall be (i) held in the Escrow Fund and (ii) beneficially owned by the Company Stockholder.
Creation of the Escrow Fund. The District hereby directs the Escrow Agent to establish a special escrow fund to be designated as the “Santa Xxxxxx Community College District General Obligation Refunding Bonds, Election of 2008, 2018 Series A Escrow Fund” (the “Escrow Fund”), into which the Escrow Agent shall deposit proceeds of the Bonds in the amount of $______, comprised of $ in cash and $ of which shall be invested in certain United States Obligations as set forth in Schedule A hereto, which is incorporated herein by this reference. The District hereby irrevocably directs the Escrow Agent to make the deposits and investments as set forth hereinabove.
Creation of the Escrow Fund. (a) Simultaneously with the execution and delivery of this Agreement, ImageX is causing the Buyer to deposit with the Escrow Agent stock certificates representing that number of unregistered shares of Parent Stock determined by dividing $775,000 by the Agreed Value, $75,000 of which represents a reserve for adjustments to the Fixed Purchase Price under Section 1.3 of the Asset Purchase Agreement (the "Stock Adjustment Portion") and $700,000 of which represents a reserve for Seller's indemnification obligations under the Asset Purchase Agreement. Such shares are referred to collectively herein as the "Escrow Shares."
Creation of the Escrow Fund. (a) At the Effective Time, Parent shall deposit with the escrow agent named in the Escrow Agreement (the "Escrow Agent") $1,000,000 in cash to be held by the Escrow Agent upon the terms and conditions set forth in the Escrow Agreement.
Creation of the Escrow Fund. On the Inventory Payment Date, Buyer shall hold back from the portion of the Purchase Price payable by it to Seller on the Inventory Payment Date and deposit with Escrow Agent to be held, invested, administered and distributed in accordance with the terms and conditions hereof (by wire transfer of immediately available funds) the amount of $ 4,000,000 (the "Cash Deposit"), as required by the Acquisition Agreement. Exhibit 2.4 (continued)
Creation of the Escrow Fund
