Use of Escrow Funds. The City may draw upon the deposits to pay the costs it incurs related to review of the submitted Application. The City shall determine all of its costs, including both administrative and consulting services, at the rates normally charged by the City or its consultants, determined according to City standards. A copy of the current administrative and consulting rates is attached which rates are subject to change by the City Council, without notice to the Applicant. (See Exhibit “A”).
Use of Escrow Funds. Effective with the Base Rental payment due in May, 2020, Lessor agrees to allow Lessee to use funds in the escrow account established by Lessee pursuant to Section 2.3 of the Purchase and Lease Agreement to pay three monthly Base Rental payments (May, June, and July 2020) in the amount of $41,250 each.
Use of Escrow Funds. The rights of each of the GG Group and the Clearview Group to the Escrow Funds shall be as set forth in the Agreement. The Clearview Group covenants that it will not assign or encumber or attempt to assign or encumber the Escrow Funds and neither the Escrow Agent nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.
Use of Escrow Funds. (a) The Escrow Funds shall be used to make distributions provided in Sections 6(b), 7(a), (b) and (c) below.
Use of Escrow Funds. The escrow funds may be used by Company to pay or reimburse itself for any loss, cost or expense to the Company under its policy(s) by reason of the underwriting problems. For purposes of this Agreement, loss, cost or expense shall include, but shall not be limited to amounts used to pay judgment or settlement claims, the cost of any law suit or litigation, including without limitation, cost of Court, attorneys and witness fees and necessary incidental expense, Company has the sole authority, without the consent of the applicant, to pay such loss based upon the underwriting problems including the following: (i) a claim by Company’s insured, which the Company, in its sole judgment, deems to be a valid claim, (ii) or to pay judgment obtained in any suit by or against Company or its insured and to pay any cost, loss or expense as defined above which occurs by reason of the underwriting problems or the cost of any suit to determine the rights of the parties to this Escrow and Indemnity Agreement, including attorneys fees, cost of Court, witness fees and reasonable necessary incidental expense.
Use of Escrow Funds. The Clearview Group has deposited with the Escrow Agent the Escrowed Funds for the faithful performance and observance by the Clearview Group of the terms, provisions, and conditions of this Agreement, to be used or applied to or for the benefit of the GG Group upon the terms and subject to the conditions set forth in this Agreement. The Clearview Group covenants that it will not assign or encumber or attempt to assign or encumber the Escrowed Funds and that neither the Escrow Agent nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.
Use of Escrow Funds. (a) The Escrow Agent shall withdraw the amounts described in Schedule I attached hereto on [May 15, 2015] from the Refunded Series 2005A Senior Bonds Escrow Fund and use such amounts in its capacity as Fiscal Agent for the Refunded Series 2005A Senior Bonds to pay the principal of and interest on the Refunded Series 2005A Senior Bonds as directed pursuant to the Master Resolution and the Eleventh Supplemental Resolution. The Escrow Agent shall retain all unclaimed moneys in the Refunded Series 2005A Senior Bonds Escrow Fund. At such time as the Issuer delivers to the Escrow Agent written notice that no additional amounts from the Refunded Series 2005A Senior Bonds Escrow Fund will be needed to pay and/or redeem the Refunded Series 2005A Senior Bonds, or on [May 16, 2015], whichever occurs first, the Escrow Agent shall transfer all amounts then remaining in the Refunded Series 2005A Senior Bonds Escrow Fund, if any, to the City Treasurer who shall transfer such amounts to the Interest Account of the Bond Service Fund. At such time as no amounts remain in the Refunded Series 2005A Senior Bonds Escrow Fund, such fund shall be closed.
Use of Escrow Funds. In the event that SDRC shall be entitled to indemnification hereunder, SDRC shall satisfy such obligation by applying such portion of the Escrow Amount equal to the indemnification obligation until the entire Escrow Amount has been so applied, all in accordance with the Escrow Agreement.
Use of Escrow Funds. Other than pursuant to Section 3.6 and the Temporary Cash Investments, the funds invested in the Escrow Account shall, as provided in Section 3.3 and following, irrevocably be used for the Required Redemption.
Use of Escrow Funds. The Escrow Funds shall be held and disbursed for the purposes of satisfying the Buyer's remedies for breaches of the Purchase Agreement under Article 9 of the Purchase Agreement, as set forth in Section 4 hereof.
