Purpose of Escrow. The Holdback Cash and Holdback Units (and any Escrow Income) shall be held by the Escrow Agent in an escrow account (the "Escrow Account") in order to secure (i) payment of any Working Capital Adjustment pursuant to Section 1.9 above, and (ii) payment of the indemnification obligations of the Selling Parties pursuant to ARTICLE VII of this Agreement.
Purpose of Escrow. The purpose of this Agreement is to: (a) to provide the required funds for Seller to defease or satisfy the Mortgages and in the amounts listed on EXHIBIT C; (b) upon such defeasance or satisfaction, provide the payment of the full Purchase Price to Sellers for the Properties in the amounts set forth on EXHIBIT C subject to adjustments and credits provided for in the Contract; and (c) upon such defeasance or satisfaction, close the purchase and sale of the applicable Property in accordance with SECTION 9.
Purpose of Escrow. A. The Escrow Agent shall hold the initial cash, all Federal Securities accounted for in the 2022 Escrow Account (other than any Federal Securities, including the Initia l Federal Securities, held as book-entries), and all moneys received from time to time as interest on and principal of such Federal Securities (including those held as book-entries), in trust to secure and for the payment of the Refunded 2014A Certificate Requirements.
Purpose of Escrow. The Escrow Amount shall be held by Escrow Agreement for the purpose of effecting any necessary adjustment in the number of shares of PhoneTel common stock to be distributed to the Seller's shareholders as consideration for the merger, as provided in Section 1.2 of the Merger Agreement. Each share of PhoneTel common stock comprising the Escrow Amount shall be valued at $1.00 for purposes of any adjustment to be made pursuant to such Section 1.2 of the Merger Agreement.
Purpose of Escrow. The Escrow Fund shall secure the obligations of the Principal Holders pursuant to Article One of this Agreement subject to the release or distribution of the shares constituting the Escrow Fund as provided in this Agreement.
Purpose of Escrow. The Escrow Agent holds the Escrow Fund solely for the purpose described in Section 4 of the Agreement.
Purpose of Escrow. The purpose of the Escrow Fund is:
Purpose of Escrow. This Escrow is established for the purpose of facilitating the delivery to Scion of the Scion Common Shares and the Scion Redeemable Shares upon the occurrence of certain conditions set forth in the Stock Purchase Agreement, or the return to Clyra of the Scion Common Shares and the Scion Redeemable Shares in the event that the transactions contemplated in the Stock Purchase Agreement are abandoned.
Purpose of Escrow. The Principal and any accrued interest thereon (collectively the "Deposit") shall be held by the Escrow Agent to protect the Purchaser with respect to (i) the matters as to which Unity, Licensee and Shareholder are required to indemnify Purchaser against pursuant to the provisions of ARTICLE 11 of the Purchase Agreement ("Indemnification Claims"), and (ii) any reduction in the Purchase Price or Alternate Purchase Price, as the case may be, pursuant to the provisions of Section 2.4 of the Purchase Agreement ("Purchase Price Reduction Claims").
Purpose of Escrow. Purchaser has deposited the Xxxxxxx Money with Escrow Agent to comply with Purchaser’s obligations pursuant to Section 2.1 of the Purchase Agreement.
