Common use of Payment to Escrow Agent Clause in Contracts

Payment to Escrow Agent. As payment for its services hereunder, the Escrow Agent shall receive annual charges as set forth in Escrow Agent's Escrow Storage Price List. The first such annual charges will be paid by AGCS within ten (10) days of the execution of this Escrow Agreement by all parties hereto. Each year thereafter, AGCS will pay the appropriate charges on or before the anniversary of the effective date of this Escrow Agreement. The annual fee may be adjusted by the Escrow Agent on an annual basis by the lesser of ten (10%) percent or the change in the Producers Price Index over the preceding twelve (12)