Operation of the Escrow Account. 2.1 No part of the Escrow Amount shall be released from the Escrow Account except as provided in this schedule.
Operation of the Escrow Account. 4.1 The Company shall, on or before the opening of the offer of the Buyback, deposit the Escrow Amount in the Escrow Account. The Escrow Amount shall be equivalent to minimum escrow requirement calculated in accordance with Regulation 9(xi)(b) of the Buyback Regulations.
Operation of the Escrow Account. 5.1 Upon receipt of the Escrow Amount, the Escrow Agent shall send the Escrow Amount Deposit Notice to the Sellers, the Purchasers and the Lender.
Operation of the Escrow Account. 4.1 The Escrow Agent shall be the only person authorised to deal with the Escrow Account and the Escrow Amount (or any part thereof) in the Escrow Account from time to time.
Operation of the Escrow Account. (a) The Escrow Amount shall be paid to the Escrow Account by the Purchaser at Completion in accordance with clause 3.6 and the monies making up the Escrow Amount shall be kept separate from and not co-mingled with any other monies (save for interest on the Escrow Amount).
Operation of the Escrow Account. 3.1 The Escrow Account shall be a joint account with the Bank and opened in the joint names of the Escrow Agents into which the Buyer shall pay the Escrow Amount in accordance with clause 2.4 of this agreement and the monies making up the Retention shall be kept separate from and not co-mingled with any other monies.
Operation of the Escrow Account. 3.1 Pursuant to clause 6 of the Acquisition and Licence Agreement, Strakan shall deliver the following documents to Wragge to be held in escrow, within 5 days of the Completion Date (as defined in the Acquisition and Licence Agreement):
Operation of the Escrow Account. 4.1 The Company hereby irrevocably empowers the Manager to issue written instructions (operating the Escrow Account, including term deposits, if any, and Special Account) Communications Regulations and instruct the Escrow Agent to act upon the Communications issued by the Manager, to the exclusion of any other person, in accordance with the provisions of the Regulations, including the Company. Any receipt of such Communications by the Escrow Agent shall be conclusive and binding upon the Escrow Agent.
Operation of the Escrow Account. 3.1 (a) The Investors shall have an exclusive right over , the Escrow Account together with all other monies lying in the Escrow Account.
Operation of the Escrow Account. 12.1 The Company hereby empowers the Manager to the Buy Back to instruct the Escrow Bank to make such appropriation and / or payments from the amounts lying to the credit of the Escrow Account in terms of applicable law (in particular the SEBI Buy Back Regulations) and subject to the provisions of this Agreement. Provided however, that the Escrow Bank shall not be obliged to check or ensure, and the Escrow Bank shall be entitled to presume, that any instructions given by the Manager to the Buy Back are in terms of applicable law, so long as such instructions are in terms of this Agreement.
