Common use of Establishment and operation of Escrow Account Clause in Contracts

Establishment and operation of Escrow Account. 2.3.1 Within 30 (thirty) days from the date of this Escrow Agreement, and in any case prior to the Effective Date, the Operator shall open and establish the Escrow Account with the **** (name of Branch) Branch of the Escrow Bank. The Escrow Account shall be denominated in Rupees. 2.3.2 The Escrow Bank shall maintain the Escrow Account in accordance with the terms of this Agreement and its usual practices and applicable regulations, and pay the maximum rate of interest payable to similar customers on the balance in the said account from time to time. 2.3.3 The Escrow Bank and the Operator shall, after consultation with the Lenders' Representative, agree on the detailed mandates, terms and conditions, and operating procedures for the Escrow Account, but in the event of any conflict or inconsistency between this Escrow Agreement and such mandates, terms and conditions, or procedures, this Escrow Agreement shall prevail.

Establishment and operation of Escrow Account. 2.3.1 Within 30 (thirty) days from the date of this Escrow Agreement, and in any case prior to the Effective Date, the Operator shall open and establish the Escrow Account with the **** (name of Branch) Branch of the Escrow Bank. The Escrow Account shall be denominated in Rupees. 2.3.2 The Escrow Bank shall maintain the Escrow Account in accordance with the terms of this Agreement and its usual practices and applicable regulations, and pay the maximum rate of interest payable to similar customers on the balance in the said account from time to time. 2.3.3 The Escrow Bank and the Operator shall, after consultation with the Lenders' RepresentativeTemple office, agree on the detailed mandates, terms and conditions, and operating procedures for the Escrow Account, but in the event of any conflict or inconsistency between this Escrow Agreement and such mandates, terms and conditions, or procedures, this Escrow Agreement shall prevail.

Establishment and operation of Escrow Account. 2.3.1 i. Within 30 (thirty) days from the date of this Escrow Agreement, and in any case prior to the Effective Appointed Date, the Operator Concessionaire shall open and establish the Escrow Account with the **** (name of Branch) Branch of the Escrow Bank. The Escrow Account shall be denominated in Rupees. 2.3.2 ii. The Escrow Bank shall maintain the Escrow Account in accordance with the terms of this Agreement and its usual practices and applicable regulations, and pay the maximum rate of interest payable to similar customers on the balance in the said account from time to time. 2.3.3 iii. The Escrow Bank and the Operator Concessionaire shall, after consultation with the Lenders' ’ Representative, agree on the detailed mandates, terms and conditions, and operating procedures for the Escrow Account, but in the event of any conflict or inconsistency between this Escrow Agreement and such mandates, terms and conditions, or procedures, this Escrow Agreement shall prevail.

Establishment and operation of Escrow Account. 2.3.1 Within 30 (thirty) days from the date of this Escrow Agreement, and in any case prior to the Effective Appointed Date, the Operator Licensee shall open and establish the Escrow Account with the **** (name of Branch) Branch of the Escrow Bank. The Escrow Account shall be denominated in Rupees. 2.3.2 The Escrow Bank shall maintain the Escrow Account in accordance with the terms of this Agreement and its usual practices and applicable regulations, and pay the maximum rate of interest payable to similar customers on the balance in the said account from time to time. 2.3.3 The Escrow Bank and the Operator Licensee shall, after consultation with the Lenders' ’ Representative, agree on the detailed mandates, terms and conditions, and operating procedures for the Escrow Account, but in the event of any conflict or inconsistency between this Escrow Agreement and such mandates, terms and conditions, or procedures, this Escrow Agreement shall prevail.