Delivery of the Escrow Amount. The Company hereby directs the Escrow Agent to allocate the Escrow Amount separately from the proceeds of the Offering at the closing, to be held and disbursed by the Escrow Agent as provided in this Agreement. The Escrow Amount shall be held by the Escrow Agent in the Bank Account as follows: Bank Address: Wachovia Bank NA 000 Xxxx Xxxx Xxxxxx Xxxxxxxx, Xxx Xxxxxx 00000 ABA No.: 000000000 Account: Xxxxxx & Xxxxxx LLP Attorney Trust Account Account No.: 2000013292968 Attn: Xxxxxxx X. Xxxxxx, Esq. Reference: Emerald Acquisition Corporation Disbursement Escrow
Delivery of the Escrow Amount. At the Closing, Buyer shall deliver to the Escrow Agent, by wire transfer of immediately available funds in United States dollars to the Escrow Account, an amount equal to the Escrow Amount to be held in the Escrow Account in accordance with the terms of the Escrow Agreement.
Delivery of the Escrow Amount. The Company hereby directs the Escrow Agent to receive the Escrow Amount to be transferred to it at the Closing and hold and disburse it as provided in this Agreement. The Escrow Amount shall be held by the Escrow Agent in the Bank Account as follows:
Delivery of the Escrow Amount. The Company hereby directs the Escrow Agent to receive the Escrow Amount to be transferred to it at the Closing and hold and disburse it as provided in this Agreement. The Escrow Amount shall be held by the Escrow Agent in the Bank Account as follows: Account Name: Dragon Acquisition Corporation Account Number: 664685234 Bank Name: HSBC BANK USA, N.A. Bank Address: 0000 0xx Xxx, Xxxxxxxx, XX 00000 ABA Number: 000000000 Swift Number: MRMDUS 33
Delivery of the Escrow Amount. Sections 5(i) and (ii) of the Escrow Agreement is hereby deleted in its entirety and the following provision substituted therefor:
(i) it receives a written notice from Buyer on or before June 30, 1998, which notice specifies that Buyer has elected to cancel the transaction in accordance with the provisions of Section 7 of the Asset Purchase Agreement, in which event Escrow Agent shall disburse to Buyer Three Million Seven Hundred Thousand Dollars ($3,700,000.00) plus any and all accrued interest thereon, less the unpaid payments, that would otherwise have been earned by Seller if not for termination of payments as described in Section 8 of the Asset Purchase Agreement, from May 1, 1998 through June 30, 1998 (i.e., deducted from said payments are any amounts previously paid to Seller for payments after the effective date of the Asset Purchase Agreement). The balance of the Escrow Amount, after the distribution to Buyer contemplated by the immediately preceding sentence, shall be delivered to Seller by Escrow Agent.
(ii) it does not receive a written notice of cancellation from Buyer on or before June 30, 1998, in which event Escrow Agent shall disburse to Seller Three Million Seven Hundred Thousand Dollars ($3,700,000.00) less the payments previously paid to Seller after the effective date of the Asset Purchase Agreement. Escrow Agent shall disburse to Buyer the remaining portion of the Escrow Amount, excluding any and all interest accrued on the Escrow Amount."
Delivery of the Escrow Amount. The Senior Loan Agent, for the account of Constellation under the Credit Agreement, has wire transferred (or has caused to be transferred) to the Escrow Agent the Escrow Amount, the receipt of which is hereby acknowledged by the Escrow Agent. The Escrow Amount shall be held by the Escrow Agent in accordance with the terms and conditions of this Agreement.
Delivery of the Escrow Amount. The Buyer hereby remits to the Escrow Agent the Escrow Amount. The Escrow Amount shall be held by the Escrow Agent in accordance with the terms and conditions of this Agreement.
Delivery of the Escrow Amount. The Purchaser shall, if required by the Purchase Agreement, remit to the Escrow Agent the Escrow Amount on the date set out in the Purchase Agreement, being initially the sum of $200,000, subject to any reductions pursuant to Purchase Agreement, by way of certified cheque payable to the Escrow Agent in its capacity as escrow agent hereunder. The Escrow Agent has no duty to ensure deposit of the Escrow Amount by the Purchaser hereunder and may accept the initial sum deposited by the Purchaser to be the total Escrow Amount without further investigation. The Escrow Amount shall be held in a segregated interest bearing trust account of the Escrow Agent designated in the name of the Purchaser and Vendor jointly. In the event that any funds received by the Escrow Agent are in the form of an uncertified cheque or cheques, the Escrow Agent shall be entitled to delay the time for release of such part of the funds until such uncertified cheque or cheques have cleared in the ordinary course by the financial institution upon which the same are drawn. The Escrow Agent will disburse monies according to this Agreement only to the extent that monies have been deposited with it and have actually cleared.
Delivery of the Escrow Amount. The Purchaser shall remit to the Escrow Agent the Escrow Amount, being initially the sum of $1,350,000, by way of certified cheque, bank draft, certified solicitor's trust cheque, or wire transfer payable to the Escrow Agent in its capacity as escrow agent hereunder. The Escrow Amount shall be held in a segregated interest bearing trust accounts of the Escrow Agent for each of the Indemnity Escrow Amount and the Working Capital Escrow Amount, each designated in the name of the Purchaser and Vendor jointly. In the event that any funds received by the Escrow Agent are in the form of an uncertified cheque or cheques, the Escrow Agent shall be entitled to delay the time for release of such part of the funds until such uncertified cheque or cheques have cleared in the ordinary course by the financial institution upon which the same are drawn. The Escrow Agent will disburse monies according to this Agreement only to the extent that monies have been deposited with it and have actually cleared.
Delivery of the Escrow Amount. On the Closing Date, the Buyer shall remit to the Escrow Agent the Escrow Amount by way of wire transfer of immediately available funds to an account designated in writing by the Escrow Agent in its capacity as escrow agent hereunder. The Escrow Amount shall be held in a segregated interest-bearing trust account of the Escrow Agent on behalf of the Seller and the Buyer (the “Escrow Account”). The Escrow Agent will disburse monies according to this Agreement only to the extent that monies have been deposited with it and have actually cleared the Escrow Account. In conjunction with and upon receipt of the Escrow Amount, the Escrow Agent shall deliver to the Buyer and the Seller, a written confirmation acknowledging receipt of the Escrow Amount.
