Common use of Escrow of Proceeds; Escrow Conditions Clause in Contracts

Escrow of Proceeds; Escrow Conditions. (a) The Issuers shall enter into the Escrow Agreement with the Trustee and U.S. Bank National Association, as escrow agent and as securities intermediary and bank (in such capacity, together with its successors, the “Escrow Agent”). In accordance with the Escrow Agreement, (1) the Issuers shall deposit (or cause to be deposited) an amount equal to the gross proceeds of the offering of the Secured Notes sold on the Issue Date into an escrow account (the “Escrow Account”) and (2) either (x) the Issuers will also deposit (or cause to be deposited) in cash or (y) Holdings or its Affiliates will cause the issuing lenders under STG’s existing revolving credit facility to issue letters of credit for the benefit of the Escrow Agent and the Holders of the Secured Notes (or a combination of (x) and (y)), in each case of (x) and (y), in an amount that, when taken together with the proceeds of the offering of the Secured Notes deposited into the Escrow Account, will be sufficient to fund a Special Mandatory Redemption of the Secured Notes on September 1, 2019, if a Special Mandatory Redemption were to occur on such date (collectively and, together with any other property from time to time held by the Escrow Agent in the Escrow Account, the “Escrowed Property”).

Escrow of Proceeds; Escrow Conditions. (a) The Issuers Fincos shall enter into the Escrow Agreement with the Trustee and U.S. Trustee, The Bank National Associationof New York Mellon Trust Company, N.A., as escrow agent and as securities intermediary and bank (in such capacity, together with its successors, the “Escrow Agent”). In accordance with the Escrow Agreement, the Fincos shall (1) the Issuers shall deposit (or cause to be deposited) an amount equal to the gross proceeds of the offering of the Secured Initial Notes sold on the Issue Date into an escrow account (the “Escrow Account”) and (2) either (x) the Issuers Fincos will also deposit (or cause to be deposited) in cash or (y) Holdings Dell International or its Affiliates will cause the issuing lenders under STG’s existing revolving credit facility its Existing ABL Credit Facility to issue letters of credit for the benefit of the Escrow Agent and the Holders of the Secured Initial Notes (or a combination of (x) and (y)), in each such case of (x) and (y), in an amount that, when taken together with the proceeds of the offering of the Secured Initial Notes deposited into the Escrow Account, will be sufficient to fund a Special Mandatory Redemption of the Secured Initial Notes on September July 1, 20192016, if a Special Mandatory Redemption were to occur on such date (collectively and, together with any other property from time to time held by the Escrow Agent in the Escrow Account, the “Escrowed Property”).

Escrow of Proceeds; Escrow Conditions. (a) The Issuers shall enter into the Escrow Agreement with the Trustee and U.S. Bank National Association, as escrow agent and as securities intermediary and bank (in such capacity, together with its successors, the “Escrow Agent”). In accordance with the Escrow Agreement, (1) the Issuers shall deposit (or cause to be deposited) an amount equal to the gross proceeds of the offering of the Secured Senior Notes sold on the Issue Date into an escrow account (the “Escrow Account”) and (2) either (x) the Issuers will also deposit (or cause to be deposited) in cash or (y) Holdings or its Affiliates will cause the issuing lenders under STG’s existing revolving credit facility to issue letters of credit for the benefit of the Escrow Agent and the Holders of the Secured Senior Notes (or a combination of (x) and (y)), in each case of (x) and (y), in an amount that, when taken together with the proceeds of the offering of the Secured Senior Notes deposited into the Escrow Account, will be sufficient to fund a Special Mandatory Redemption of the Secured Senior Notes on September 1, 2019, if a Special Mandatory Redemption were to occur on such date (collectively and, together with any other property from time to time held by the Escrow Agent in the Escrow Account, the “Escrowed Property”).

Escrow of Proceeds; Escrow Conditions. (a) The Issuers Fincos shall enter into the Escrow Agreement with the Trustee and U.S. The Bank National Associationof New York Mellon Trust Company, N.A., as escrow agent and as securities intermediary and bank (in such capacity, together with its successors, the “Escrow Agent”). In accordance with the Escrow Agreement, (1) the Issuers Fincos shall deposit (or cause to be deposited) an amount equal to the gross proceeds of the offering of the Secured Initial Notes sold on the Issue Date into an escrow account (the “Escrow Account”) and (2) either (x) the Issuers Fincos will also deposit (or cause to be deposited) in cash or (y) Holdings Dell International or its Affiliates will cause the issuing lenders under STG’s existing revolving credit facility the Existing ABL Credit Facility to issue letters of credit for the benefit of the Escrow Agent and the Holders of the Secured Initial Notes (or a combination of (x) and (y)), in each such case of (x) and (y), in an amount that, when taken together with the proceeds of the offering of the Secured Initial Notes deposited into the Escrow Account, will be sufficient to fund a Special Mandatory Redemption of the Secured Initial Notes on September July 1, 20192016, if a Special Mandatory Redemption were to occur on such date (collectively and, together with any other property from time to time held by the Escrow Agent in the Escrow Account, the “Escrowed Property”).