Escrow Agent Reporting Clause Samples
The Escrow Agent Reporting clause requires the escrow agent to provide regular updates or reports regarding the status and activity of the escrow account. Typically, this involves periodic statements detailing deposits, disbursements, and the current balance, which are shared with the parties involved in the escrow arrangement. By mandating transparent communication, this clause ensures all parties are kept informed about the handling of funds, thereby reducing the risk of misunderstandings or disputes over the escrowed assets.
Escrow Agent Reporting. Notwithstanding anything to the contrary herein, except as required by law, in no event shall the Escrow Agent be under a duty to file any reports or withhold or deduct any amounts in respect of taxes due for payments made pursuant to this Agreement.
Escrow Agent Reporting. Except as required by law, the Escrow Agent shall not be under any duty to file any reports or withhold or deduct any amount in respect of taxes due for payments made pursuant to this Agreement. For tax reporting purposes, the Parent and the Company agree that the Escrow Funds shall, until they are released pursuant to the terms of this Agreement, be treated as owned by the Parent and all investment income earned from the investment of the Escrow Funds (or any portion thereof) in any tax year (or portion thereof) shall be allocated to and reported by the Parent. The Parent and the Company agree to provide the Escrow Agent, upon request, with properly completed Forms W-8BEN or W-9, as applicable.
Escrow Agent Reporting. Escrow Agent shall provide Lender and Borrowers with periodic reports of payments received and shall immediately notify Borrowers upon receipt of the total amount of all of Borrower’s Obligations, not including the ROI Theatrical Bumps and any interest accrued thereon, and then again upon the receipt of the total amount of all of Borrowers’ Obligations, including the ROI Theatrical Bumps and any interest accrued thereon.