Common use of Withdrawals from the Escrow Account Clause in Contracts

Withdrawals from the Escrow Account. All amounts standing to the credit in the Escrow Account shall be utilized in accordance with the priority and instructions set out in the Escrow Agreement. Further, the Authority shall be entitled to recover any Damages payable by the Concessionaire to the Authority under this Agreement from the Escrow Account in accordance with the Escrow Agreement to the extent such Damages remain unpaid by the Concessionaire or are not recovered from the Bid Security, Construction Performance Security or the Operation Performance Security, as the case may be.

Withdrawals from the Escrow Account. All amounts standing to the credit in the Escrow Account shall be utilized in accordance with the priority and instructions set out in the Escrow Agreement. Further, the Authority shall be entitled to recover any Damages payable by the Concessionaire to the Authority under this Agreement from the Escrow Account in accordance with the Escrow Agreement to the extent such Damages remain unpaid by the Concessionaire or are have not been recovered from the Bid Security, Construction Performance Security or the Operation Performance Security, as the case may be.

Withdrawals from the Escrow Account. All amounts standing to the credit in the Escrow Account shall be utilized in accordance with the priority and instructions set out in the Escrow Agreement. Further, the Authority shall be entitled to recover any Damages payable by the Concessionaire to the Authority under this Agreement from the Escrow Account in accordance with the Escrow Agreement to the extent such Damages remain unpaid by the Concessionaire or are arehave not been recovered from the Bid Security, Construction Performance Security or the Operation Performance Security, as the case may be.