Common use of Escrow Agent’s Fee Clause in Contracts

Escrow Agent’s Fee. The Escrow Agent is entitled to an annual fee of $10,000 (plus out-of-pocket expenses), which will be inclusive of all charges and other costs, for services rendered as escrow agent under this Escrow Agreement, including, but not limited to, maintaining the Escrow Account, making disbursements therefrom, and managing the Escrow Account. This fee will be paid annually out of the Escrow Account through the Escrow Agent’s withdrawal of that amount from the Escrow Account. The initial fee will be payable at the time of the Chapter 7 Trustee’s establishment of the Escrow Account in accordance with Section 1, and additional fees will be paid annually thereafter.