Escrow Expiration Date Clause Samples

The Escrow Expiration Date clause defines the specific date on which the escrow arrangement associated with a transaction will end. In practice, this means that any funds or assets held in escrow must be released or otherwise dealt with by this date, unless certain conditions for extension or release are met beforehand. This clause ensures that all parties are aware of the timeline for the escrow process, preventing indefinite holding of assets and providing a clear endpoint for the escrow's obligations.
Escrow Expiration Date. The Escrow shall remain in place until the one year anniversary of the Closing Date (the “Expiration Date”) and all amounts in the Escrow at the Expiration Date shall be released to the Indemnifying Securityholders on the Expiration Date in accordance with Section 1.6 and Section 1.10; provided, however, that the Escrow shall not terminate and the Escrow shall not be released with respect to the amounts reasonably required to satisfy any unresolved or unsatisfied Claims specified in any Notice of Claim (as defined in Section 7.6(a)) properly delivered in accordance with this Article VII on or prior to the Expiration Date with respect to facts and circumstances existing on or prior to the Expiration Date (each, a “Parent Unresolved Claim”) until such time as each such Parent Unresolved Claims have been resolved in accordance with Section 7.7.
View SourceView Similar (3)
Escrow Expiration Date. The Escrow Agreement (other than in respect of the Tax Escrow Fund) shall terminate on June 30, 2004 (the “Expiration Date”) and, on the Expiration Date, any remaining amount of the Escrow Fund shall be distributed to the Sellers; provided, however, that the Escrow Agreement shall continue in effect with respect to such portion of the Escrow Fund as is necessary to satisfy any unsatisfied Third Party Claim specified in any Claim Notice delivered to Sellers pursuant to Section 8.4 prior to the Expiration Date, and such portion of the Escrow Fund shall remain in escrow until such Third Party Claim has been resolved or a release is otherwise agreed to pursuant to Section 8.6. Notwithstanding the foregoing, the Tax Escrow Fund (and the Escrow Agreement to the extent relating thereto) will survive until the final resolution, to the reasonable satisfaction of Purchaser, of all Defined Tax Liabilities (such date, the “Tax Escrow Expiration Date”), at which time any remaining amount of the Tax Escrow Fund shall be distributed to the Sellers, subject to any interim adjustment in accordance with Section 5.5(c). The Purchaser and the Sellers’ Representative hereby agree to work in good faith to resolve and satisfy all Defined Tax Liabilities as soon as reasonably practicable, while taking into account both the goals of minimization of such liabilities and maximizing the value of the combined business of Purchaser and the Company.
View Source
Escrow Expiration Date. The Consonus Escrow Fund and the STI Escrow Fund shall remain in place for a period of one (1) year from the Closing Date (the “Escrow Expiration Date”). On the Escrow Expiration Date, the remaining amount of each of the Consonus Escrow Fund and the STI Escrow Fund, respectively, shall promptly be delivered to the Consonus Holders and STI Holders, respectively, in accordance with the respective Payment Schedule; provided, however, that the escrow period shall not terminate with respect to any amount of the Consonus Escrow Fund or STI Escrow Fund that is subject to any then unresolved Claims specified in any Officer’s Certificate (as defined in Section 7.6(b)) delivered to the Escrow Agent and the respective Holders’ Agent on or prior to the Escrow Expiration Date with respect to facts and circumstances existing on or prior to the Escrow Expiration Date (each, an “Consonus Unresolved Claim” or a “STI Unresolved Claim”, as applicable). Promptly following resolution of each such Consonus Unresolved Claim or STI Unresolved Claim, as the case may be, and subject to satisfaction of any then outstanding but unpaid Agent Expenses (as defined in Section 7.9(b)) the Escrow Agent shall deliver the remaining portion of the Consonus Escrow Fund or the STI Escrow Fund, as the case may be, not required to satisfy such Claims, Agent Indemnity or Agent Expenses, to the Consonus Holders or the STI Holders, as the case may be, in accordance with the respective Payment Schedule.
View Source

Related to Escrow Expiration Date

  • Amounts; Outside Expiration Date The Agent shall not have any obligation to cause to be issued any Letter of Credit or to provide Credit Support for any Letter of Credit at any time if: (1) the maximum undrawn amount of the requested Letter of Credit is greater than the Unused Letter of Credit Subfacility at such time; (2) the maximum undrawn amount of the requested Letter of Credit and all commissions, fees, and charges due from the Borrower in connection with the opening thereof exceed the Combined Availability at such time; (3) in the case of a standby Letter of Credit, the maximum undrawn amount of the requested standby Letter of Credit, together will all other standby Letters of Credit issued for the account of the Borrower, exceeds $20,000,000; or (4) such Letter of Credit has an expiration date later than 30 days prior to the Stated Termination Date or more than 12 months from the date of issuance for standby letters of credit and 180 days for documentary letters of credit. With respect to any Letter of Credit which contains any "evergreen" or automatic renewal provision, each Lender shall be deemed to have consented to any such extension or renewal unless any such Lender shall have provided to the Agent, written notice that it declines to consent to any such extension or renewal at least thirty days prior to the date on which the Letter of Credit Issuer is entitled to decline to extend or renew the Letter of Credit. If all of the requirements of this Section 2.3 are met and no Default or Event of Default has occurred and is continuing, no Lender shall decline to consent to any such extension or renewal.

  • Lease Expiration Date The last day of the month in which the sixty-sixth (66th) month anniversary of the Lease Commencement Date occurs. 7.4

  • COMMENCEMENT/EXPIRATION DATE This agreement is executed as of the date of the last signature and is effective through at which time it will expire. The expiration date is the final date for completion of all work activities under this agreement.

  • Termination Upon Expiration Date The Trust shall automatically terminate on December 31, 20__ (the "Expiration Date") or earlier pursuant to Section 9.02.

  • Termination/Expiration Upon termination or expiration of this Lease, Tenant shall, at Tenant's cost, remove any equipment, improvements or storage facilities utilized in connection with any Hazardous Materials and shall clean up, detoxify, repair and otherwise restore the Premises to a condition free of Hazardous Materials, to the extent such condition is caused by Tenant or any assignee or subtenant of Tenant or their respective agents, contractors, employees, licensees or invitees.