Payment of Escrowed Funds Sample Clauses

Payment of Escrowed Funds. 2.2.1 The parties acknowledge that WPCS has, prior to the execution of this Escrow Agreement, delivered by way of electronic transfer to the Escrow Agent the Escrowed Funds and hereby irrevocably instructs the Escrow Agent to deal with the Escrowed Funds on and subject to the terms hereof.
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Payment of Escrowed Funds. 2.1 Bank shall pay the funds from the Escrow Account, less reasonable fees, costs, charges and expenses, a schedule of which shall be furnished to the Parties prior to any deduction, to the following Parties under the following conditions:
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Payment of Escrowed Funds. Bank is hereby authorized and directed, on or before the date such amounts are due, to pay rent accruing pursuant to the Ground Sublease for the year 1999, if any and the year 2000 from the funds deposited pursuant to Section 1.3 hereof. On or before January 1, 2000, Ground Sublessee shall deliver to Bank all sums due and payable pursuant to the Ground Sublease for the first calendar quarter of the year 2000. Ground Sublessee agrees to deposit, 44 on or before the first day of each succeeding calendar quarter thereafter during the term that the Loan is outstanding, an amount sufficient to cover all payments due pursuant to the Ground Sublessee for the next calendar quarter year. The net effect of Section 1.3 and 1.4 being that there is always held in escrow sufficient funds to pay at least one year's rent due under the Ground Sublease.
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Payment of Escrowed Funds. At the Closing, the Buyers, shall pay the Escrowed Funds, ($2,191,214 of which shall be allocated to Fort Lauderdale Seller, $3,194,787 of which shall be allocated to Millwood Health Seller, $1,200,000 of which shall be allocated to Pride Institute Seller and $1,413,999 of which shall be allocated to Summit Health Seller to Citibank, N.A., a national banking association (the "ESCROW AGENT"), which Escrowed Funds shall be held in separate escrow accounts on behalf of each Seller (collectively, the "ESCROW ACCOUNT"), pursuant to an escrow agreement, substantially in the form attached as Exhibit B hereto (the "ESCROW AGREEMENT").
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Payment of Escrowed Funds. Distributions (each, a “Disbursement”) by Escrowee shall only be made as set forth in this Paragraph 3.
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Payment of Escrowed Funds. Parent and Survivor shall direct the escrow agent under the Escrow Agreement (the "Escrow Agent"), and the Escrow Agreement shall provide, that the Escrowed Funds shall be used to pay the Remediation Costs. The Parent and the Survivor agree that they will direct the Escrow Agent to pay such Remediation Costs promptly upon the receipt by either the Parent or the Survivor of any valid invoice or xxxx relating to the any Environmental Response Action under Section 7.9 hereof or comprising the Remediation Costs. To the extent there remains Escrowed Funds following the completion of the Environmental Response Actions contemplated by Section 7.9 hereof and payment in full of all Remediation Costs, the Parent and the Survivor shall direct the Escrow Agent to pay to the Parent such remaining Escrowed Funds.
Sample 1
Payment of Escrowed Funds. 2.1 The HSBC HK Bank shall pay the funds from the Escrow Account to the Seller ABC……………… and/or the Buyer XYZ………………………………..under the following circumstances:
Sample 1
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Related to Payment of Escrowed Funds

  • Investment of Escrowed Funds Upon collection of each check by the Escrow Agent, the Escrow Agent shall invest the funds in deposit accounts or certificates of deposit which are fully insured by the Federal Deposit Insurance Corporation or another agency of the United States government, short-term securities issued or fully guaranteed by the United States government, federal funds, or such other investments as the Escrow Agent and the Company shall agree. The Company shall provide the Escrow Agent with instructions from time to time concerning in which of the specific investment instruments described above the Escrowed Funds shall be invested, and the Escrow Agent shall adhere to such instructions. Unless and until otherwise instructed by the Company, the Escrow Agent shall by means of a "Sweep" or other automatic investment program invest the Escrowed Funds in blocks of $1,000 in federal funds. Interest and other earnings shall start accruing on such funds as soon as such funds would be deemed to be available for access under applicable banking laws and pursuant to the Escrow Agent's own banking policies.

  • Investment of Escrow Funds The Escrow Agent shall deposit the Escrow Funds in a non-interest bearing money market account. If Escrow Agent has not received a Joint Written Direction at any time that an investment decision must be made, Escrow Agent may retain the Escrow Fund, or such portion thereof, as to which no Joint Written Direction has been received, in a non-interest bearing money market account.

  • Disbursement of Escrow Funds (a) Subject to Section 3(b) and Section 10, NCPS shall promptly disburse in accordance with the Instruction Letter the liquidated value of the Escrow Funds from the Escrow Account to Issuer by wire transfer no later than one Business Day following receipt of the following documents:

  • Release of Escrowed Funds As of the date on which a reserve is released or contingent liability is eliminated (in the case of a Reserve Notice), and provided that no Change Notice has previously been issued and is still outstanding in relation to the same tax position that was the subject of the Reserve Notice, the relevant escrowed funds (along with any interest earned on such funds, and less (1) the out-of-pocket expenses incurred by the Corporation or the LLC in administering the escrow, and (2) any taxes imposed on the Corporation or the LLC with respect to any income earned on the investment of such funds) shall be distributed to the relevant Members. The portion of the relevant escrowed funds held back pursuant to clauses (1) and (2) of the immediately preceding sentences shall be distributed to the Corporation or the LLC, as applicable. If a Determination is received (in the case of a Change Notice), and if such Determination results in no adjustment in any Tax Benefit Payments under this Agreement, and provided that no Reserve Notice has previously been issued and is still outstanding in relation to the same tax position that was the subject of the Change Notice, then the relevant escrowed funds (along with any interest earned on such funds, and less (1) the out-of-pocket expenses incurred by the Corporation or the LLC in administering the escrow, and (2) any taxes imposed on the Corporation or the LLC with respect to any income earned on the investment of such funds) shall be distributed to the relevant Members. If a Determination is received (in the case of a Change Notice), and if such Determination results in an adjustment in any Tax Benefit Payments under this Agreement, and provided that no Reserve Notice has previously been issued and is still outstanding in relation to the same tax position that was the subject of the Change Notice, then the relevant escrowed funds (along with any interest earned on such funds) shall be distributed as follows: (i) first, to the Corporation or the LLC in an amount equal to (1) the out-of-pocket expenses incurred by the Corporation or the LLC in administering the escrow and in contesting the Determination and (2) any taxes imposed on the Corporation or the LLC with respect to any income earned on the investment of such funds; and (ii) second, to the relevant Parties (which, for the avoidance of doubt and depending on the nature of the adjustments, may include the Corporation or the relevant Members, or some combination thereof) in accordance with the relevant Amended Schedule prepared pursuant to Section 2.4 of this Agreement.

  • Investment of Escrow Fund During the term of this Escrow Agreement, the Escrow Fund shall be invested and reinvested by the Escrow Agent in the investment indicated on Schedule 1 or such other investments as shall be directed in writing by the Issuer and the Depositor and as shall be acceptable to the Escrow Agent. All investment orders involving U.S. Treasury obligations, commercial paper and other direct investments may be executed through broker-dealers selected by the Escrow Agent. Periodic statements will be provided to the Issuer and the Depositor reflecting transactions executed on behalf of the Escrow Fund. The Issuer and the Depositor, upon written request, will receive a statement of transaction details upon completion of any securities transaction in the Escrow Fund without any additional cost. The Escrow Agent shall have the right to liquidate any investments held in order to provide funds necessary to make required payments under this Escrow Agreement. The Escrow Agent shall have no liability for any loss sustained as a result of any investment in an investment indicated on Schedule 1 or any investment made pursuant to the instructions of the parties hereto or as a result of any liquidation of any investment prior to its maturity or for the failure of the parties to give the Escrow Agent instructions to invest or reinvest the Escrow Fund. The Escrow Agent may earn compensation in the form of short-term interest (“float”) on items like uncashed distribution checks (from the date issued until the date cashed), funds that the Escrow Agent is directed not to invest, deposits awaiting investment direction or received too late to be invested overnight in previously directed investments.

  • Investment of Escrow Amount Escrow Agent may, at its’ discretion, invest any or all of the Escrow Account balance as permitted by banking or trust company regulations. No interest shall be paid to Issuer or Subscribers on balances in the Escrow Account or in Issuers custodial account.

  • Investment of Escrow Account The Escrow Agent shall deposit funds received from purchasers in the Escrow Account, which shall be a non-interest-bearing bank account at SunTrust Bank.

  • Creation of Escrow Funds On or prior to the date of the commencement of the Offering, the parties shall establish an escrow account with the Escrow Agent, which escrow account shall be entitled as follows: Wentworth Energy, Inc./Cornell Capital Partners, LP Escrow Account for the deposit of the Escrow Funds. The Investor(s) will instruct subscribers to wire funds to the account of the Escrow Agent as follows: Bank: Wachovia, N.A. of New Jersey Routing #: 000000000 Account #: 2000014931134 Name on Account: Xxxxx Xxxxxxxx Attorney Trust Account Name on Sub-Account: Wentworth Energy, Inc./Cornell Capital Partners, LP Escrow Account

  • Deposit of Escrow Funds By its execution hereof, Recipient acknowledges that the deposit of the Escrow Funds into escrow with Escrow Agent does not confer any rights or claims to the Escrow Funds by Recipient unless all of the conditions in Section 2 above and the conditions as set forth in the Grant Agreement, have been satisfied.

  • Release of Escrow Funds The Escrow Funds shall be paid by the Escrow Agent in accordance with the following:

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