Common use of Requirements to Establish Escrow Accounts Clause in Contracts

Requirements to Establish Escrow Accounts. 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 The escrow account must be an interest bearing account; 8.6.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party; 8.6.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and 8.6.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.7; or 8.6.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.7. 8.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.5. 8.6.4 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 10.

Requirements to Establish Escrow Accounts. 8.6.1 3.5.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:: 3. 8.6.1.1 The 5.1. 1The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The 3.5.1. 2The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 The 3.5.1. 3The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 3.5.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 3.5.2.1 The escrow account must be an interest bearing account; 8.6.2.2 3.5.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party; 8.6.2.3 3.5.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 3.5.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; to the extent the amount of accrued interest on the principal to be paid to the Billing Party does not exceed the amount of Late Payment Charges due on such principal. Any accrued interest on the principal to be paid to the Billing Party that is in excess of the Late Payment Charges on such principal shall be paid to the Non-Paying Party. To the extent that the amount of the Late Payment Charges on the principal due to the Billing Party is in excess of the amount of accrued interest on such principal, the difference shall be paid according to Section 3.6.1.3 of the Amendment; and 8.6.2.5 3.5.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 3.5.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 3.5.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.712 of the General Terms and Conditions of this Agreement; or 8.6.2.5.3 3.5.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.712 of the General Terms and Conditions of this Agreement. 8.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.5. 8.6.4 3.5.3 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 1012 of the General Terms and Conditions of this Agreement.

Requirements to Establish Escrow Accounts. 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 8.6.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 The escrow account must be an interest bearing account; 8.6.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party; 8.6.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx thereon may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and 8.6.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.7; or 8.6.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.7. 8.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.5. 8.6.4 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 10. 8.6.5 The Billed Party shall not be required to place Disputed Amounts in escrow, as required by Section 8.5, above, if the Billed Party does not have a proven history of late payments and has established a minimum of twelve consecutive (12) months good credit history with the Billing Party (prior to the date it notifies the Billing Party of its billing dispute); and either (i) the Billed Party has not filed more than three previous billing disputes within the twelve (12) months immediately preceding the date it notifies the Billing Party of its current billing dispute, which previous disputes were resolved in Billing Party’s favor; or, (ii) if the xxxx containing the disputed charges is not the first xxxx for a particular service to the Billed Party, the Billed Party’s dispute does not involve 50% or more of the total amount of the previous xxxx out of the same billing system.

Requirements to Establish Escrow Accounts. 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 8.6.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 The escrow account must be an interest bearing account; 8.6.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing PartyParty requesting the escrow; 8.6.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and 8.6.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.7; or 8.6.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.7. 8.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.5. 8.6.4 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 10.

Requirements to Establish Escrow Accounts. 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 The escrow account must be an interest bearing account; 8.6.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party; 8.6.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx thereon may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and 8.6.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.7; or 8.6.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.7. 8.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.5. 8.6.4 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 10.

Requirements to Establish Escrow Accounts. 8.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 8.6.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 The escrow account must be an interest bearing account; 8.6.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party; 8.6.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and 8.6.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.7; or 8.6.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.7. 8.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.5. 8.6.4 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 10.. Page 33 of 113

Requirements to Establish Escrow Accounts. 8.6.1 10.6.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria: 8.6.1.1 10.6.1.1 The financial institution proposed as the Third Party escrow agent must be located within the continental United States; 8.6.1.2 10.6.1.2 The financial institution proposed as the Third Party escrow agent may not be an Affiliate of either Party; and 8.4.1.3 10.6.1.3 The financial institution proposed as the Third Party escrow agent must be authorized to handle ACH (credit transactions) (electronic funds) transfers. 8.6.2 10.6.2 In addition to the foregoing requirements for the Third Party escrow agent, the disputing Party and the financial institution proposed as the Third Party escrow agent must agree in writing furnished to the Billing Party that the escrow account will meet all of the following criteria: 8.6.2.1 10.6.2.1 The escrow account must be an interest bearing account;; Page 40 of 419 8.6.2.2 10.6.2.2 all charges associated with opening and maintaining the escrow account will be borne by the disputing Party; 8.6.2.3 10.6.2.3 that none of the funds deposited into the escrow account or the interest earned xxxxxxx may be used to pay the financial institution’s charges for serving as the Third Party escrow agent; 8.6.2.4 10.6.2.4 all interest earned on deposits to the escrow account will be disbursed to the Parties in the same proportion as the principal; and 8.6.2.5 10.6.2.5 disbursements from the escrow account will be limited to those: 8.6.2.5.1 10.6.2.5.1 authorized in writing by both the disputing Party and the Billing Party (that is, signature(s) from representative(s) of the disputing Party only are not sufficient to properly authorize any disbursement); or 8.6.2.5.2 10.6.2.5.2 made in accordance with the final, non-appealable order of the arbitrator appointed pursuant to the provisions of Section 10.712.7; or 8.6.2.5.3 10.6.2.5.3 made in accordance with the final, non-appealable order of the court that had jurisdiction to enter the arbitrator’s award pursuant to Section 10.712.7. 8.6.3 10.6.3 Disputed Amounts in escrow will be subject to Late Payment Charges as set forth in Section 8.1.510.1.5. 8.6.4 10.6.4 Issues related to Disputed Amounts shall be resolved in accordance with the procedures identified in the Dispute Resolution provisions set forth in Section 1012.