Common use of NOW THIS AGREEMENT WITNESSETH AS UNDER Clause in Contracts

NOW THIS AGREEMENT WITNESSETH AS UNDER. 1. At the instance of the Licensee the Escrow Agent has opened a Escrow Account being Account No. with , solely for the proposes of this to duly secure the interest of DMRC in terms of the said License Agreement. DMRC and the Licensee hereby appoint (NAME OF BANK ) and (NAME OF BANK ), hereby accepts the appointment as the Escrow Agent in respect of the amounts deposited in the Escrow Account and to hold and administer the proceeds in the said Escrow Account in accordance with the terms and conditions contained herein.

NOW THIS AGREEMENT WITNESSETH AS UNDER. 1. At the instance of the Licensee Concessionaire, the Escrow Agent has opened a Escrow Account being Account No. with , (branch) solely for the proposes of this Agreement and to duly secure the interest of DMRC in terms of the said License AgreementDMRC. DMRC and the Licensee Concessionaire hereby appoint Bank (NAME OF BANK address) and (NAME OF BANK ), Bank hereby accepts the appointment as the Escrow Agent in respect of the amounts deposited in the Escrow Account and to hold and administer the proceeds in the said Escrow Account in accordance with the terms and conditions contained herein.