Escrow Compliance Clause Samples
The Escrow Compliance clause establishes the requirements and procedures for holding funds or assets in escrow to ensure that contractual obligations are met by all parties. Typically, this clause outlines the responsibilities of the escrow agent, the conditions under which the escrowed assets are released, and the documentation required to trigger such release. By providing a neutral third party to manage the assets until all terms are satisfied, this clause helps prevent disputes and ensures that both parties fulfill their commitments before the transaction is finalized.
Escrow Compliance. If an Escrow Account is required to be maintained with respect to each Mortgage Loan, (i) all interest required pursuant to applicable law to be paid on funds in such Escrow Account through the Transfer Date has been or will be credited to the account of the related Mortgagor, and evidence of such credit shall be provided to the Servicer; and (ii) such interest has been and through the Transfer Date will be properly computed and paid in accordance with the terms of such Mortgage Loan and with applicable law.