Disposition of Escrow Funds Sample Clauses

Disposition of Escrow Funds. The Escrow Agent shall have the following duties and obligations under this Agreement:
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Disposition of Escrow Funds. (a) The Escrow Funds or any remaining portion thereof held hereunder shall be released by the Escrow Agent to the Stockholder within five Business Days after the Expiration Date (the "Distribution Date"); provided, however, that, if a Notice of Claim shall have been delivered to the Escrow Agent prior to the Expiration Date and the Claim set forth in such Notice of Claim is pending and unresolved on the Distribution Date, only the amount of the Escrow Funds in excess of that required to satisfy such Claim, as set forth in the Notice of Claim, and any expenses of the Escrow Agent as permitted in Article 10 shall be released to the Stockholder. At such later time as all Claims have been finally resolved and the amount of all such Claims has been paid to the Purchaser, the balance of the Escrow Funds then held hereunder, if any, shall be disbursed to the Stockholder.
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Disposition of Escrow Funds. The Escrow Agent and GFCEP shall have the following duties and obligations under this Agreement:
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Disposition of Escrow Funds. The Agent shall without further authorization or direction from the Municipality collect the principal on the Government Securities promptly as the same shall fall due. From the Escrow Fund, to the extent that monies therein are sufficient for such purpose, the Agent shall make timely payments to the proper paying agent or agents, or their successors, for the Outstanding Notes of monies sufficient for the payment of the principal of and interest on the Outstanding Notes as the same shall become due and payable. Amounts and dates of principal and interest payments and the name and address of the paying agent with respect to the Outstanding Notes are set forth on Exhibit
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Disposition of Escrow Funds if the Agreement Does Not Close. ------------------------------------------------------------ In the event this transaction is not completed on or before July 31, 2000 for any reason other than actions by Seller which constitute bad faith, the Seller shall retain the Escrow Funds. If this transaction is not closed on or before July 31, 2000 as the result of actions by Seller which constitute bad faith, the Escrow Funds shall be returned to Purchaser and Purchaser shall be released from any further obligations hereunder.
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Disposition of Escrow Funds. Escrow Agent will hold the Escrow Funds in its possession in the Escrow Account until authorized hereunder to deliver such Escrow Funds as follows:
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Disposition of Escrow Funds. The Escrow Agent shall make disposition of the Escrow Funds deposited and held in escrow pursuant to Section 1 hereof as follows:
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Disposition of Escrow Funds. The Escrow Agent shall distribute and dispose of the escrow funds as follows:
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Disposition of Escrow Funds. (a) The Escrow Agent shall hold the Escrow Payment in escrow until the Borrower has delivered to the Escrow Agent a certificate (in the form attached hereto as Exhibit B) (x) requesting the delivery of the Escrow Payment, (y) signed by an Authorized Representative (as set forth on Exhibits C and C-1, respectively) of each of the Customer and Borrower, and (z) certifying that the condition of this Section 5(a) has been satisfied (the “Escrow Release”), and upon satisfaction of the foregoing clauses (x)-(z), the Escrow Agent shall deliver the Escrow Payment as directed in the Escrow Release: the Loan Parties (as defined in the Financing Agreement) shall have delivered the Acquired Business Audited Financials (as defined in the Financing Agreement) to the Agents (as defined in the Financing Agreement). (b) The Escrow Agent shall be protected in acting in reliance upon the Escrow Release and may request that the Customer confirm its consent to the Escrow Release (with such confirmation by electronic mail deemed acceptable hereunder). 6.
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Related to Disposition of Escrow Funds

  • Creation of Escrow Funds On or prior to the date of the commencement of the Offering, the parties shall establish an escrow account with the Escrow Agent, which escrow account shall be entitled as follows: Wentworth Energy, Inc./Cornell Capital Partners, LP Escrow Account for the deposit of the Escrow Funds. The Investor(s) will instruct subscribers to wire funds to the account of the Escrow Agent as follows: Bank: Wachovia, N.A. of New Jersey Routing #: 000000000 Account #: 2000014931134 Name on Account: Xxxxx Xxxxxxxx Attorney Trust Account Name on Sub-Account: Wentworth Energy, Inc./Cornell Capital Partners, LP Escrow Account

  • Investment of Escrow Funds The Escrow Agent shall deposit the Escrow Funds in a non-interest bearing money market account. If Escrow Agent has not received a Joint Written Direction at any time that an investment decision must be made, Escrow Agent may retain the Escrow Fund, or such portion thereof, as to which no Joint Written Direction has been received, in a non-interest bearing money market account.

  • Protection of Escrow Fund (i) The Escrow Agent shall hold and safeguard the Escrow Fund during the Escrow Period, shall treat such fund as a trust fund in accordance with the terms of this Agreement and not as the property of Parent and shall hold and dispose of the Escrow Fund only in accordance with the terms hereof.

  • Investment of Escrow Fund During the term of this Escrow Agreement, the Escrow Fund shall be invested and reinvested by the Escrow Agent in the investment indicated on Schedule 1 or such other investments as shall be directed in writing by the Issuer and the Depositor and as shall be acceptable to the Escrow Agent. All investment orders involving U.S. Treasury obligations, commercial paper and other direct investments may be executed through broker-dealers selected by the Escrow Agent. Periodic statements will be provided to the Issuer and the Depositor reflecting transactions executed on behalf of the Escrow Fund. The Issuer and the Depositor, upon written request, will receive a statement of transaction details upon completion of any securities transaction in the Escrow Fund without any additional cost. The Escrow Agent shall have the right to liquidate any investments held in order to provide funds necessary to make required payments under this Escrow Agreement. The Escrow Agent shall have no liability for any loss sustained as a result of any investment in an investment indicated on Schedule 1 or any investment made pursuant to the instructions of the parties hereto or as a result of any liquidation of any investment prior to its maturity or for the failure of the parties to give the Escrow Agent instructions to invest or reinvest the Escrow Fund. The Escrow Agent may earn compensation in the form of short-term interest (“float”) on items like uncashed distribution checks (from the date issued until the date cashed), funds that the Escrow Agent is directed not to invest, deposits awaiting investment direction or received too late to be invested overnight in previously directed investments.

  • Investment of Escrow Amount Escrow Agent may, at its’ discretion, invest any or all of the Escrow Account balance as permitted by banking or trust company regulations. No interest shall be paid to Issuer or Subscribers on balances in the Escrow Account or in Issuers custodial account.

  • Termination of Escrow In the event of the release of all Proceeds and all accrued interest in accordance with Section 4 and Section 5 of this Agreement, this Agreement shall terminate and the Escrow Agent shall be relieved of all responsibilities in connection with the escrow deposits provided for in this Agreement, except claims which are occasioned by its gross negligence, bad faith, fraud or willful misconduct.

  • Release of Escrow Funds The Escrow Funds shall be paid by the Escrow Agent in accordance with the following:

  • Disbursement of Escrow Funds (a) Subject to Section 3(b) and Section 10, NCPS shall promptly disburse in accordance with the Instruction Letter the liquidated value of the Escrow Funds from the Escrow Account to Issuer by wire transfer no later than one Business Day following receipt of the following documents:

  • Termination of Escrow Agreement The Escrow Agent's responsibilities thereunder shall terminate at such time as the Escrow Fund shall have been fully disbursed pursuant to the terms hereof, or upon earlier termination of this escrow arrangement pursuant to written instructions executed by the non-bank Party. Such written notice of earlier termination shall include instruction to the Escrow Agent for the distribution of the Escrow Fund.

  • Disbursements of Escrow Funds (a) Escrow Agent shall disburse Escrow Funds at any time and from time to time, upon receipt of, and in accordance with, a Joint Written Direction received by Escrow Agent as set forth in Section 15. Such Joint Written Direction will contain Complete Payment Instructions.

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