Common use of Establishment of the Bank Account Clause in Contracts

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bank account at the branch of JX Xxxxxx Cxxxx (the “Bank”) selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). While the funds are on deposit, the Escrow Agent may earn bank credits or other consideration. The purpose of the Bank Account is for (a) the deposit of the Escrow Amount by the Issuer to the Escrow Agent, (b) the holding of the Escrow Amount and (c) the disbursement of the Escrow Amount, all as described herein.

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bank account at the branch of JX XX Xxxxxx Cxxxx Xxxxx (the “Bank”) selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). While the funds are on deposit, the Escrow Agent may earn bank credits or other consideration. The purpose of the Bank Account is for (a) the deposit of the Escrow Amount by the Issuer to the Escrow Agent, (b) the holding of the Escrow Amount and (c) the disbursement of the Escrow Amount, all as described herein.

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-an interest bearing bank account at the branch of JX Xxxxxx Cxxxx [ ] (the “Bank”) selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). While the funds are on deposit, the Escrow Agent may earn bank credits or other consideration. The purpose of the Bank Account is for (a) the deposit of the Escrow Amount by the Issuer to the Escrow Agent, (b) the holding of the Escrow Amount and (c) the disbursement of the Escrow Amount, all as described herein.