Escrow of Cash. On the Closing Date, the Purchaser shall deposit with the Escrow Agent $75,000 of the Cash Consideration. The Escrowed Cash 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 any party hereto. The Escrow Agent agrees to accept delivery of the Escrowed Cash and to hold the Escrowed Cash in an interest-bearing escrow account (the "Cash Escrow Account"), subject to the terms and conditions of this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (Tekgraf Inc), Escrow Agreement (Tekgraf Inc), Escrow Agreement (Rychel William M)
Escrow of Cash. On the Closing Date, the Purchaser shall deposit with the Escrow Agent $75,000 150,000 of the Cash Consideration. The Escrowed Cash 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 any party hereto. The Escrow Agent agrees to accept delivery of the Escrowed Cash and to hold the Escrowed Cash in an interest-bearing escrow account (the "Cash Escrow Account"), subject to the terms and conditions of this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Tekgraf Inc), Escrow Agreement (Tekgraf Inc)
Escrow of Cash. On the Closing Date, the Purchaser shall deposit with the Escrow Agent $75,000 100,000 of the Cash Consideration. The Escrowed Cash 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 any party hereto. The Escrow Agent agrees to accept delivery of the Escrowed Cash and to hold the Escrowed Cash in an interest-bearing escrow account (the "Cash Escrow Account"), subject to the terms and conditions of this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Tekgraf Inc), Escrow Agreement (Tekgraf Inc)