Escrows and Deposits Clause Samples

The 'Escrows and Deposits' clause establishes the requirements and procedures for holding funds or assets in a neutral third-party account until certain contractual conditions are met. Typically, this clause outlines who will act as the escrow agent, the amount or type of deposit required, and the specific events that trigger the release of the escrowed funds, such as the completion of a transaction or fulfillment of obligations. Its core practical function is to protect both parties by ensuring that assets are only transferred when agreed-upon conditions are satisfied, thereby reducing the risk of non-performance or default.
Escrows and Deposits. All escrows or similar deposits, if any, made by Hersha Owner as security under any public service contracts which will remain on deposit for the benefit of Owner JV after the Closing to the extent such escrows or similar deposits are assigned to Owner JV for which Hersha Owner will receive a credit at Closing.
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Escrows and Deposits. To the actual knowledge of the Seller, all escrow deposits and payments required pursuant to the Mezzanine Loan Interest documents are in the possession, or under the control, of the related servicer of the assets, and to the knowledge of the Seller there are no deficiencies in connection therewith.
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Escrows and Deposits. All escrows or similar deposits, if any, made by Seller as security under any public service contracts which will remain on deposit for the benefit of Purchaser after the Closing to the extent such escrows or similar deposits are assigned to Purchaser.
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Escrows and Deposits. All escrows, reserves and other deposits required of Mortgagor in connection with the Mortgage Loan will be made in cash into an account held by MHDC. Such escrows will be administered in accordance with the applicable escrow agreement with MHDC as the escrow agent.
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Escrows and Deposits. Entravision and the Surviving Corporation agree -------------------- to keep the LCG Representatives reasonably informed as to the status of any outstanding portion of the Escrows and Deposits and to promptly provide the LCG Representatives with any disbursements, notices or other materials Entravision or the Surviving Corporation receive with respect thereto. Entravision and the Surviving Corporation acknowledge and agree that the LCG Representatives shall direct and control any Proceedings relating to the Escrows and Deposits. Subject to the Confidentiality Agreement, and at the expense of the LCG Representatives (solely from the Escrow Account), each of Entravision and the Surviving Corporation shall provide the LCG Representatives with such information and records and make such of its respective officers, directors, employees and agents available as may reasonably be requested by the LCG Representatives in connection with any Proceedings relating to the Escrows and Deposits.
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Escrows and Deposits. All escrows or similar deposits, if any, made by a Property Owner as security under the Broward Loan or any other permissible indebtedness of a Property Owner that will continue to be outstanding after the Closing, or under any public service contracts that will remain on deposit for the benefit of the Purchaser after the Closing, to the extent the Property Owner assigns its rights to such escrows or similar deposits to the Purchaser.
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Related to Escrows and Deposits

  • Establishment of and Deposits to Escrow Account The Servicer shall segregate and hold all funds collected and received pursuant to a Mortgage Loan constituting Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Escrow Accounts shall be established with a Qualified Depository in a manner that shall provide maximum available insurance thereunder. Funds deposited in the Escrow Account may be drawn on by the Servicer in accordance with Section 3.06. The creation of any Escrow Account shall be evidenced by a letter agreement in the form of Exhibit C. A copy of such certification or letter agreement shall be furnished to the Master Servicer and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Escrow Account or Accounts on a daily basis, and retain therein: (i) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement; and (ii) all amounts representing Insurance Proceeds or Condemnation Proceeds that are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals from the Escrow Account only to effect such payments as are required under this Agreement, as set forth in Section 3.06. The Servicer shall retain any interest paid on funds deposited in the Escrow Account by the depository institution, other than interest on escrowed funds required by law to be paid to the Mortgagor. Additionally, any other benefit derived from the Escrow Account associated with the receipt, disbursement and accumulation of principal, interest, taxes, hazard insurance, mortgage insurance, etc. shall accrue to the Servicer. To the extent required by law, the Servicer shall pay interest on escrowed funds to the Mortgagor notwithstanding that the Escrow Account may be non-interest bearing or that interest paid thereon is insufficient for such purposes.

  • Securities and Deposits The Secured Party may at any time following and during the continuance of a payment default or an Event of Default, at its option, transfer to itself or any nominee any securities constituting Collateral, receive any income thereon and hold such income as additional Collateral or apply it to the Obligations. Whether or not any Obligations are due, the Secured Party may, following and during the continuance of a payment default or an Event of Default demand, sue for, collect, or make any settlement or compromise which it deems desirable with respect to the Collateral. Regardless of the adequacy of Collateral or any other security for the Obligations, any deposits or other sums at any time credited by or due from the Secured Party to the Company may at any time be applied to or set off against any of the Obligations then due and owing.

  • Cash Accounts, Deposits and Money Movements Subject to the terms and conditions set forth in this Section 7, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars, in such other currencies as are the currencies of the countries in which the Fund maintains Investments or in such other currencies as the Fund shall from time to time request by Instruction.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Returned Deposits ▪ Deposits made using the Mobile Deposit Service will be provisionally credited to your eligible account. You agree that if an original check deposited through the Mobile Deposit Service is subsequently dishonored, rejected or otherwise returned unpaid by the drawee bank, or is rejected or returned by a clearing agent or collecting bank, for any reason, including, but not limited to, issues relating to the quality of the image, that we may charge back the amount of the original check to your account and provide you with an image of the original check, a paper reproduction of the original check or a substitute check. You agree to reimburse us for all loss, cost, damage or expense caused by or relating to the processing of the returned item. Without our approval, you shall not attempt to redeposit or otherwise negotiate an original check if it has been charged back to you. We may debit any of your accounts to obtain payment for any item that has been rejected or returned, for any adjustment related to such item or for any warranty claim related to such item, whether or not the rejection, return, adjustment or warranty claim was made timely.