Escrowed Funds to be Placed in Escrow Sample Clauses

Escrowed Funds to be Placed in Escrow. (a) Upon any issuance of Subscription Receipts, the Proceeds in respect thereof shall be delivered by Xxxxxxx Xxxxx, on behalf of the Agents, to the Subscription Receipt Agent by electronic transfer of funds into the Escrow Account to be held pursuant to the terms hereof.
Sample 1
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Escrowed Funds to be Placed in Escrow. (a) Upon the receipt and acceptance by the Company of duly completed subscriptions for Subscription Receipts, and upon the issuance of the Subscription Receipts, the Agents and the Company (or its designated Counsel) shall deliver or cause to be delivered the Escrowed Funds (with the amount to be delivered in accordance with Section 3.6(d) hereof, if applicable) to the Receipt Agent, such payment to be made by wire payable to the Receipt Agent or wire transfer to the account designated by the Receipt Agent. The Receipt Agent shall immediately place such funds in escrow to be held pursuant to the terms hereof. The Receipt Agent hereby agrees to hold the Escrowed Funds (with the amount to be delivered in accordance with Section 3.6(d) hereof, if applicable) as agent for and on behalf of the Company and the Receiptholders and to release and deal with the Escrowed Funds as provided herein only.
Sample 1
Escrowed Funds to be Placed in Escrow. In connection with the issuance of Subscription Receipts, the Subscription Receipt Agent will provide directions in respect of the delivery of the Escrowed Funds by electronic transfer of funds into segregated trust accounts to be held pursuant to the terms hereof. The Subscription Receipt Agent hereby agrees to hold the same as agent on behalf of the Receiptholders and the Corporation and to invest, disburse and deal with the same as provided herein.
Sample 1
Escrowed Funds to be Placed in Escrow. Upon any issuance of Subscription Receipts, the Escrowed Funds in respect thereof shall be delivered by Cormark, on behalf of the Underwriters, and the Corporation (on behalf of certain Subscribers) to the Subscription Receipt Agent by wire transfers of funds into a segregated trust account as directed by the Subscription Receipt Agent to be held pursuant to the terms hereof. The Subscription Receipt Agent hxxxxx agrees to hold the same as agent on behalf of the Receiptholders and the Corporation and to invest, disburse and deal with the same as provided herein.
Sample 1
Escrowed Funds to be Placed in Escrow. Upon any issuance of Subscription Receipts, the Escrowed Funds in respect thereof shall be delivered by the Lead Underwriter, on behalf of the Underwriters, to the Subscription Receipt Agent by electronic transfer of funds into a segregated trust account as directed by the Subscription Receipt Agent to be held pursuant to the terms hereof. The Subscription Receipt Agent hereby agrees to hold the same as agent on behalf of the Receiptholders and the Trust and to invest, disburse and deal with the same as provided herein.
Sample 1
Escrowed Funds to be Placed in Escrow. Upon any issuance of Subscription Receipts, the Escrowed Funds shall be delivered by NBF, on behalf of the Underwriters, to the Subscription Receipt Agent by electronic transfer of funds into a segregated trust account as directed by the Subscription Receipt Agent to be held pursuant to the terms hereof. The Subscription Receipt Agent hereby agrees to hold the same as agent on behalf of the Receiptholders and the Corporation and to invest, disburse and deal with the same as provided herein.
Sample 1

Related to Escrowed Funds to be Placed in Escrow

  • Escrowed Funds Upon receipt of the Escrowed Funds, the Escrow Agent shall hold the Escrowed Funds in escrow pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Funds shall be deposited by the Escrow Agent in an interest bearing account or as may otherwise be directed by the Corporation in writing. The Escrow Agent shall be entitled to sell or redeem any investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Interest, if any, resulting from any investment of the Escrowed Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreement.

  • Disbursement of the Escrow Shares 3.1 The Escrow Agent shall hold the Escrow Shares during the period (the “Escrow Period”) commencing on the date hereof and (i) for 50% of the Escrow Shares, ending on the earlier of (x) six months after the date of the consummation of the Company’s initial business combination (as described in the Registration Statement, hereinafter a “Business Combination”) and (y) the date on which the closing price of the Common Stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after the Company’s initial Business Combination and (ii) for the remaining 50% of the Escrow Shares, ending six months after the date of the consummation of an initial Business Combination. The Company shall promptly provide notice of the consummation of a Business Combination to the Escrow Agent. Upon completion of the Escrow Period, the Escrow Agent shall disburse such amount of each Initial Shareholder’s Escrow Shares (and any applicable share power) to such Initial Shareholder; provided, however, that if the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company is being liquidated at any time during the Escrow Period, then the Escrow Agent shall promptly destroy the certificates representing the Escrow Shares; provided further, however, that if, within six months after the Company consummates an initial Business Combination, the Company (or the surviving entity) subsequently consummates a liquidation, merger, stock exchange or other similar transaction which results in all of the shareholders of such entity having the right to exchange their shares of Common Stock for cash, securities or other property, then the Escrow Agent will, upon receipt of a notice executed by the Chairman of the Board, Chief Executive Officer or other authorized officer of the Company, in form reasonably acceptable to the Escrow Agent, certifying that such transaction is then being consummated or such conditions have been achieved, as applicable, release the Escrow Shares to the Initial Shareholders. The Escrow Agent shall have no further duties hereunder after the disbursement or destruction of the Escrow Shares in accordance with this Section 3.1.

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