Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HOSPITALITY PROPERTIES, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to either the Escrow Agent or the Company. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks and issue a check made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.
Establishment of Escrow Accounts. Within ten (10) Business Days from the execution of this Agreement, the Parties shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing account with the Escrow Agent to be held and disbursed as set forth in Section 2.11 and Article 12 below (the “Purchase Price Escrow Account”). On or before the Fund Delivery Deadline, the CDC shall deposit the CDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in the Purchase Price Escrow Account the Purchasers’ Resolutions by the Fund Delivery Deadline. Within three (3) Business Days from receiving written confirmation from the Escrow Agent that the Remediation Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver to the Escrow Agent a special warranty deed to the EDC Tract (the “EDC Tract Deed”) and a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the E...
Establishment of Escrow Accounts. Deposits in Escrow. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute 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. The creation of any Escrow Account shall be evidenced by a certification in the form shown on Exhibit 5.06-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form shown on Exhibit 5.06-2 attached hereto, in the case of an account held by a depository other than the Servicer, such depository having been consented to by the Purchaser. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser.
Establishment of Escrow Accounts. 8 6. Undertakings..................................................................... 10 7. Distributions under the Corp Scheme.............................................. 12 8. Distributions under the plc Scheme............................................... 18 9. Rights, Powers and Duties of the Escrow Trustee and the Distribution Agent....... 23 10.
Establishment of Escrow Accounts. (1) As soon as reasonably practicable after the date of this Agreement the Escrow Trustee shall establish the Escrow Accounts and each such account shall be designated by the Escrow Trustee as a trust account. The Escrow Trustee shall provide to the Prospective Supervisors, Corp and plc prompt confirmation of the establishment of the Escrow Accounts.
Establishment of Escrow Accounts. (a) The Frost Group Shareholders and Buyer hereby appoint Escrow Agent to serve as escrow agent hereunder. Escrow Agent hereby accepts such appointment and, upon receipt of the Escrow Deposit, agrees to hold, invest and disburse the Escrow Securities in accordance with this Agreement.
Establishment of Escrow Accounts. 4.1 As soon as reasonably practicable after the date of this Agreement and in any event before the Effective Date, the Escrow Agent undertakes to Telewest and Telewest Jersey that it shall establish the Escrow Accounts. The Escrow Agent shall provide to Telewest and Telewest Jersey prompt written confirmation of the establishment of the Escrow Accounts.
Establishment of Escrow Accounts. Purchaser shall establish and maintain all escrow accounts that are to be maintained in connection with the Mortgage Loans in accordance with the requirements set forth in the -Servicing Agreement. Purchaser shall fund the newly established escrow accounts for each Mortgage Loan on the basis of the escrow account balance information provided by Current Servicer for that Mortgage Loan pursuant to Paragraphs 4(a)(8) and 4(b)(1) above.
Establishment of Escrow Accounts. Prime Clerk, in its capacity as Escrow Agent, is authorized to establish the Escrow Accounts with financial institutions in the name of and as agent for the Debtors. The Escrow Agent may, in its discretion, establish such accounts using a Debtor’s tax identification number or Prime Clerk’s tax identification number with a Debtor or the Debtors as beneficiary thereof.
Establishment of Escrow Accounts. On or prior to , 2008, the Company shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled “ , ESCROW AGENT FOR CNL INCOME PROPERTIES, INC.” (the “Escrow Account”). All monies deposited in the Escrow Account are hereinafter referred to as the “Escrowed Funds.” The Company will cause Soliciting Dealers to instruct subscribers to make Payments for subscriptions payable to the order of the Escrow Agent or the Company. Soliciting Dealers that are “$250,000 broker-dealers” may be authorized to instruct their customers to make Payments payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers’ Payments and issue funds made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds for deposit into the Escrow Account.
