Establishment of Paying Agent Account. The Paying Agent shall establish a deposit account (the "Paying Agent Account") at The First National Bank of Maryland in the name of the Escrow Agent. It is expressly understood by the parties hereto that the Paying Agent is acting as the paying agent of the Escrow Agent hereunder and that no amounts on deposit in the Paying Agent Account constitute part of the Trust Property.
Appears in 4 contracts
Samples: Escrow and Paying Agent Agreement (Midway Airlines Corp), Escrow and Paying Agent Agreement (Midway Airlines Corp), Escrow and Paying Agent Agreement (Midway Airlines Corp)
