Purposes of Escrow. The Escrow Funds shall be used solely for the purposes set forth in Sections 11.2 and 11.3 of the Purchase Agreement. The Escrow Funds shall not constitute an asset of the Sellers until the distribution thereof to the Sellers in accordance with the terms of the Purchase Agreement and of this Escrow Agreement.
Appears in 2 contracts
Samples: Escrow Agreement (Fairpoint Communications Inc), Escrow Agreement (MJD Communications Inc)
Purposes of Escrow. The Escrow Funds shall be used solely for the ------------------ purposes set forth in Sections 11.2 and 11.3 of the Purchase Agreement. The Escrow Funds shall not constitute an asset of the Sellers Xxxxx until the distribution thereof to the Sellers Xxxxx in accordance with the terms of the Purchase Agreement and of this Escrow Agreement.
Appears in 2 contracts
Samples: Escrow Agreement (MJD Communications Inc), Escrow Agreement (MJD Communications Inc)
Purposes of Escrow. The Escrow Funds shall be used solely for the purposes and in the manner set forth in Sections 11.2 and 11.3 Article XI of the Purchase Agreement. The Escrow Funds shall not constitute an asset of the Sellers Belch Sisters until the distribution thereof to the Sellers Belch Sisters in accordance with the terms of the Purchase Agreement and of this Escrow Agreement.
Appears in 1 contract
Purposes of Escrow. The Escrow Funds shall be used solely for the purposes set forth in Sections 11.2 and 11.3 of the Purchase Agreement. The Escrow Funds shall not constitute an asset of the Sellers until the distribution thereof to the Sellers in accordance with the terms of the Purchase Agreement and of this Escrow Agreement.
Appears in 1 contract
