Deposit of Escrow. 1. Following the execution of this Agreement and the payment of all setup and deposit fees to Escrow Agent by the Company, Escrow Agent shall open a Deposit Account for the Company. The opening of the account means that Escrow Agent shall establish an account ledger in the name of the the Company and that the Company shall receive renewal notices as provided in Paragraph VI(1). Unless and until the Company makes an initial deposit of escrow with Escrow Agent, Escrow Agent shall have no obligation to the Company except as defined in this Section.
Deposit of Escrow. 3.1 Following the execution of this Agreement and the payment of all setup and deposit fees to the Escrow Agent by the School, the Escrow Agent shall open an interest bearing Deposit Account for the School. The opening of the account means that the Escrow Agent shall establish an account ledger in the name of the School and that the School shall receive renewal notices as provided in this Agreement.
Deposit of Escrow. Following the execution of this Agreement and the payment of all setup and deposit fees to the Escrow Agent by the Licensor, the Escrow Agent shall open a deposit account for the Licensor. The opening of the account means that the Escrow Agent shall establish an account ledger in the name of the Licensor and that the Licensor shall receive renewal notices as provided for in terms of this Agreement. Unless and until the Licensor makes an initial deposit of escrow with the Escrow Agent, the Escrow Agent shall have no obligation to the Licensor except as defined in this clause. Within fifteen (15) days after the signature date, the Licensor shall deliver to the Escrow Agent, to be placed in escrow hereunder, one (1) copy of the Source Code for the Software.
Deposit of Escrow. The Escrow Deposit will be deposited in the Escrow Agent’s trust account and no interest will be earned or paid to the benefit of Escrowor or Escrowee thereon.
Deposit of Escrow. As soon as practicable after the Effective Time, and subject to, and in accordance with, the provisions of Article VIII, Parent shall cause to be deposited with the Escrow Agent (as defined in Section 8.1) (a) a certificate or certificates representing a number of shares of Parent Common Stock(the "Escrow Shares") equal to the aggregate of ten percent (10%) of the shares of Parent Common Stock issuable to each holder of Company Capital Stock pursuant to this Agreement, which shall be registered in the name of Var & Co., as nominee for the Escrow Agent, and (b) an amount in cash equal to $600,000 (the "Escrow Cash"), representing an amount equal to the aggregate of ten percent (10%) of the aggregate Cash Payments payable to each holder of Company Capital Stock pursuant to this Agreement. The Escrow Shares shall be, to the extent possible, vested shares not subject to any repurchase rights, shall be beneficially owned by such holders and shall be held in escrow and shall be available to compensate Parent for certain damages as provided in Article VIII. The Escrow Shares and the Escrow Cash shall be released in accordance with and subject to the provisions of Article VIII and the Escrow Agreement.
Deposit of Escrow. At Closing, Buyer shall deposit or cause to be deposited, on behalf of the Shareholders and Option Holders, a portion of the Initial Purchase Price equal to the Escrow Amount with the Escrow Agent by wire transfer of immediately available funds. The Escrow Amount shall be held in escrow pursuant to the terms of Article VII hereof and of the Escrow Agreement, substantially in the form attached hereto as Exhibit C (the “Escrow Agreement”), by and among Buyer, Shareholder Representative and the Escrow Agent. Each Shareholder’s and each Option Holder’s contribution to the Escrow Amount, from the Initial Purchase Price, shall be that percentage of the total Escrow Amount that is equal to such Shareholder’s or Option Holder’s Pro Rata Equity Percentage.
Deposit of Escrow. (a) The Company will have deposited on its behalf the Escrowed Amount with the Escrow Agent. The Escrowed Amount will be held in a non-interest bearing account maintained by the Escrow Agent.
Deposit of Escrow. As soon as reasonably practicable following the Closing Date (but in any event within two Business Days), Acquiror shall cause to be deposited with the Escrow Agent the Escrow Cash, which shall constitute partial security for the indemnification obligations of the Indemnifying Holders pursuant to Article VIII of this Agreement, and which shall be released to the Indemnifying Holders pro rata in accordance with and subject to the terms and upon the conditions contained in Section 8.4 hereof (the Escrow Cash, together with any interest that may be earned thereon, shall constitute an escrow fund, the “Escrow Fund”).
Deposit of Escrow. On the Closing Date, Parent shall deposit into escrow with The Bank of New York, as escrow agent, (i) ten percent (10%) of the Merger Shares less 50,000 shares of Parent Common Stock (the "Primary Escrow Shares"), and (ii) 50,000 shares of Parent Common Stock (the "Tax Indemnity Escrow Shares" and together with the Primary Escrow Shares, the "Escrow Shares"), such Escrow Shares to be held and distributed in accordance with the Escrow Agreement.
Deposit of Escrow. (a) In connection with the signing of the Option Agreement, the Purchaser will deposit the Purchase Price with the Escrow Agent. The Escrow Agent shall deliver 50% of the Purchase Price received to the Transferors upon receipt of written instrucitons from the Transferors, and shall hold the remaining 50% (the “Property”) in accordance with the terms of this Agreement. The Property will be held in a non-interest bearing account maintained by the Escrow Agent. In the event that the Escrow Agent does not receive any of the Property by 45 days after the date hereof, this Agreement shall terminate and be of no further force or effect. In the event that the Escrow Agent does not receive the entire Property by 45 days after the date hereof, this Agreement shall terminate and be of no further force or effect and the Escrow Agent will return any portion of the Property the Escrow Agent received to the persons who deposited it without interest or deduction, unless the Escrow Agent receives a notice from the Transferors indicating that the closing of the transactions contemplated by the SPA will proceed regardless of the failure of the Purchaser to fund, in whole or in part, the Purchase Price, in which case the Property shall consitute the portion of the Property received by the Escrow Agent prior to the closing of the transactions contemplated by the SPA.
