Escrow of Auction Proceeds Sample Clauses

Escrow of Auction Proceeds. Xxxxxx shall cause the Auction Proceeds to be deposited by wire transfer directly into an escrow account (the “Escrow Account”) with an escrow agent that is a nationally recognized U.S. bank mutually agreed to by the parties (the “Escrow Agent”), to be held and distributed pursuant to the terms and conditions of an escrow agreement, by and among Xxxxxx, Sharer and the Escrow Agent, in a standard and customary form as may be required by the Escrow Agent and approved by the parties in writing (the “Escrow Agreement”); provided, that if, for any reason, the Auction Proceeds are not deposited directly into the Escrow Account, but are rather received by Xxxxxx directly, then Xxxxxx shall immediately (but not later than one (1) business day following receipt of the Auction Proceeds) remit the Auction Proceeds to the Escrow Account by wire transfer, without deduction, offset or counterclaim. The parties shall use their best efforts to ensure that the Escrow Agreement complies with the Channel Sharing Rules for payment of Auction Proceeds to a third party, without holdback, offset or other deduction. Xxxxxx shall obtain from the Escrow Agent any certifications required by the FCC to permit payment to the Escrow Account. The escrowed funds shall be held as a trust fund and shall not be subject to any lien, attachment, trustee process or any other judicial process of any creditor of either party hereto. The escrowed funds shall be deposited by the Escrow Agent in an interest-bearing account in the manner specified in the Escrow Agreement. The parties shall jointly instruct the Escrow Agent not to distribute or release the escrowed funds except in accordance with the express terms and conditions of the Escrow Agreement. Each party shall be responsible for the fees charged and expenses incurred by the Escrow Agent for its services under the Escrow Agreement, in proportion to each party’s share of the Auction Proceeds, as described on Schedule 1.4.
Sample 1
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Escrow of Auction Proceeds. Xxxxxx shall cause the Auction Proceeds to be deposited by wire transfer directly into an escrow or trust account (the “Escrow Account”) with an escrow agent or trustee that is a nationally recognized U.S. bank mutuall... (c)
Sample 1

Related to Escrow of Auction Proceeds

  • Escrow of Funds Subject to the terms and conditions of the Grant Agreement, OPWC will disburse to Escrow Agent Grant funds available to Recipient, which disbursement shall be made by a check sent to Escrow Agent via regular U.S. Mail, or by such other means determined by the Director in the Director’s sole discretion, prior to the closing date as scheduled under the Contract (the “Escrow Funds”). The Escrow Funds shall be held by Escrow Agent, together with any funds of Recipient made available prior to closing on the terms and conditions hereinafter set forth.

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (000) 000-0000. This does not apply to transactions occurring outside the United States.

  • Reserve Funds Section 7.1.

  • Disbursement 7.1.1 Subject to the availability of sufficient moneys in and from the Funding Source based on Agency’s reasonable projections of moneys accruing to the Funding Source, Agency will disburse Grant Funds to Grantee for the allowable Project activities described in Exhibit A that are undertaken during the Performance Period.

  • Direct Deposits The Credit Union may offer direct deposit options allowing you to preauthorize deposits (i.e., payroll checks, Social Security or retirement checks, or other government checks) or preauthorize transfers from other accounts at the Credit Union. You must authorize any direct deposits to your accounts by a separate authorization form. If applicable, you must notify the Credit Union at least thirty (30) days prior to any direct deposit or preauthorized transfer if you wish to cancel or change the direct deposit or direct transfer option. Upon a filing of a bankruptcy, if you fail to cancel any direct deposit authorization, you instruct your employer and the Credit Union to make and apply direct deposits in accordance with your authorization on file with the Credit Union. If the Credit Union is required to reimburse the U.S. Government for any benefit payment directly deposited into your account for any reason, you agree the Credit Union may deduct the amount returned from any of your accounts, unless prohibited by law.

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan.

  • Direction to Escrow Agent The Issuer and the Securityholders direct the Escrow Agent to hold the escrow securities in escrow until they are released from escrow under this Agreement.

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