Receipt of Escrow Property. (a) Upon execution of this Escrow Agreement and upon the Closing of the Offering, the Company shall cause to be deposited $200,000 into a United States Dollar denominated account (the “Escrow Account”) established by the Escrow Agent. The Escrow Account is set forth below: Manufacturers & Traders Trust Co. ABA# 000000000 A/C# 162760-000 A/C Name: Millennium Group Escrow Attn: Xxxxxx Xxxxx
(b) The Escrow Agent will hold the deposit in the Escrow Account, together with all investments thereof and all interest accumulated thereon and proceeds therefrom (the “Escrow Property”), in escrow upon the terms and conditions set forth in this Escrow Agreement and shall not disburse funds from the Escrow Account except as provided herein.
Receipt of Escrow Property. Upon execution hereof, Purchaser shall deliver to the Escrow Agent the amount of $250,000 (the “Escrow Property”) in immediately available funds.
Receipt of Escrow Property. Upon execution hereof, Buyer shall deliver to the Escrow Agent the amount of $AB0,000.00 (the “Escrow Property”) in immediately available funds.
Receipt of Escrow Property. Within [*] days after receipt of the Dyadic Materials (as defined in the License Agreement), Codexis shall notify the Escrow Agent that they shall deliver to the Escrow Agent the amount of [*] (the “Escrow Property”) [*].
Receipt of Escrow Property. (a) Upon execution of this Escrow Agreement and upon the Closing of the Offering, the Company shall cause to be deposited $200,000 into a United States Dollar denominated account (the “Escrow Account”) established by the Escrow Agent. The Escrow Account is set forth below: ABA# A/C# A/C Name: Attn:
(b) The Escrow Agent will hold the deposit in the Escrow Account, together with all investments thereof and all interest accumulated thereon and proceeds therefrom (the “Escrow Property”), in escrow upon the terms and conditions set forth in this Escrow Agreement and shall not disburse funds from the Escrow Account except as provided herein.
Receipt of Escrow Property. (a) On the Closing Date, PEI shall deposit with the Escrow Agent, by wire transfer of immediately-available funds, to the bank account set forth in Exhibit A hereto, an amount in cash equal to three million dollars ($3,000,000) (together with investment income earned thereon pursuant to the terms hereof, the “Net Working Capital Escrow Property”).
(b) On the Closing Date, PEI shall deposit with the Escrow Agent, by wire transfer of immediately-available funds, to the bank account set forth in Exhibit B hereto, an amount in cash equal to three million five-hundred thousand dollars ($3,500,000) (together with investment income earned thereon pursuant to the terms hereof, the “Indemnity Escrow Property” and together with the Net Working Capital Escrow Property, the “Escrow Property”).
(c) The Escrow Property will be segregated from other assets of the Escrow Agent. The Escrow Agent agrees to hold and administer the Escrow Property subject to the terms of this Escrow Agreement. The New Working Capital Escrow Property will be segregated from the Indemnity Escrow Property.
(d) The parties acknowledge that the Net Working Capital Escrow Property and the Indemnity Escrow Property held in escrow hereunder may be reduced from time to time during the term hereof pursuant to the terms of this Escrow Agreement.
Receipt of Escrow Property. Escrow Agent shall establish an account with the information set forth in Annex I hereto (the “Escrow Account”). Lender shall irrevocably establish the Escrow Account as the “Destination Account” under the DACA and shall otherwise cause all amounts deposited into the Collateral Account from time to time while this Escrow Agreement is in effect to be transferred to the Escrow Account pursuant to the terms of the DACA and in accordance with Annex I. The Parties recognize and agree as between the Parties that this Escrow Agreement shall not in any manner amend or modify the Loan Agreement between the Parties, but this Escrow Agreement is intended to implement certain provisions of the Loan Agreement. As to any inconsistency between this Escrow Agreement (as it relates to the Parties) and the Loan Agreement, the provisions of the Loan Agreement shall control and be binding on the Parties as to any such inconsistencies. For clarity, only the provisions of this Escrow Agreement shall be applicable to the Escrow Agent, and the Escrow Agent shall not be subject to any of the terms or conditions of the Loan Agreement.
Receipt of Escrow Property. FBR or the Company shall deliver the Escrow Amount to the Escrow Agent by wire transfer of immediately available funds to the escrow account (the “Escrow Account”) pursuant to the following wire instruction: Bank name: Manufacturers Traders Trust Co ABA #: 000000000 Account Name: PDV/FBR Escrow Account Account #: 108609-000 Beneficiary: Institutional Client Services The Escrow Amount, plus all interest, dividends and other distributions, payments and earnings thereon and proceeds thereof received by the Escrow Agent, less any property and/or funds distributed or paid in accordance with this Escrow Agreement, are collectively referred to herein as “Escrow Property,” and shall be held by the Escrow Agent in escrow and disbursed in accordance with the terms and provisions of this Escrow Agreement.
Receipt of Escrow Property. Following execution hereof, Parent shall deliver, or cause to be delivered, to the Escrow Agent by wire transfer of immediately available funds:
Receipt of Escrow Property. The Escrow Agent acknowledges the receipt of $1,250,000 (the “Escrow Property”) in immediately available funds.
