Construction Escrow Agent definition

Construction Escrow Agent means the construction escrow agent retained in connection with the construction of the Black Hawk Casino, or any successor construction escrow agent appointed by the Trustee pursuant to the terms of the Cash Collateral and Disbursement Agreement.
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Construction Escrow Agent means the company selected jointly by Reorganized Stratosphere and Grand and approved by the Bankruptcy Court to act as the disbursing agent for all funds held in the Construction Escrow Account pursuant to the Construction Escrow Agreement.
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Construction Escrow Agent means First American Heritage Title Company in its capacity as construction Escrow Agent under the Cash Collateral and Disbursement Agreement, as approved (or as to which such right of approval is waived) by Lender, such approval or waiver of approval not to be unreasonably withheld or delayed, or any successor thereto appointed by Trustee and approved (or as to which such right of approval is waived) by Lender.
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Examples of Construction Escrow Agent in a sentence

  • Tenant shall not enter any contracts for construction, architectural, engineering or other lienable work, the value of which could exceed $250,000, unless those contracts contain (i) a stipulated sum or guaranteed maximum price, (ii) consent by the contractor to direct payment of subcontractors by Construction Escrow Agent or from the Joint Escrow Account, as the case may be.

  • Tenant shall deliver to Landlord and Construction Escrow Agent or Administrator, as the case may be, copies of all contacts as they are let.

  • The Construction Escrow Agent agrees to act in good faith at all times in the performance of its covenants and obligations pursuant to this Agreement.

  • Neither Landlord nor Tenant shall be responsible for any misconduct, malfeasance, negligence, investment loss or other loss of principal by the Escrow Holder or Construction Escrow Agent, as the case may be.

  • The Parties hereto irrevocably instruct the Disbursement Agent to deliver written notice to the Trustee, Hyatt Gaming, the Construction Escrow Agent, the Independent Construction Consultant and the Company that no funds remain in any one or more of the Construction Disbursement Accounts or Completion Reserve Accounts on the first date upon which the balance in such Account(s) is reduced to zero.

  • If the budget for any proposed Alterations exceeds $250,000, then prior to commencement of such Alterations, Tenant shall establish and fund, as required below, a joint construction escrow with the Construction Escrow Agent, (as defined below) and Landlord, pursuant to construction escrow instructions in or, if the parties are unable to locate or agree on a Construction Escrow Agent, then Tenant shall have funded the Joint Escrow Account as required below.

  • The Company, the Trustee and Hyatt Gaming hereby appoint the Construction Escrow Agent, and the Construction Escrow Agent hereby accepts appointment, as escrow agent hereunder upon the terms and conditions set forth in this Agreement.

  • The Construction Escrow Agent shall keep all such information confidential and shall not disclose such information to any Person other than the Parties without the prior written consent of the Company, except to the extent disclosure of such information is (i) required under Applicable Law, or (ii) necessary or appropriate to perform its obligations under this Agreement.

  • If the Independent Construction Consultant determines that it cannot provide the Independent Construction Consultant's Disbursement Approval or the Construction Escrow Agent determines that it cannot provide the Construction Escrow Agent's Issuance Letter, with respect to all or any amount of the requested disbursement, the Company shall have the right to withdraw such Disbursement Request, and notwithstanding Section 7.1(c) submit an amended Disbursement Request hereunder.

  • All funds delivered to the Construction Escrow Agent pursuant to this Agreement shall be held in trust and not commingled with any deposit or commercial bank account.


More Definitions of Construction Escrow Agent

Construction Escrow Agent means First American Heritage Title Company.
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Related to Construction Escrow Agent

  • The Escrow Agent s responsibilities as escrow agent hereunder shall terminate if the Escrow Agent shall resign by written notice to the Company and the Purchaser. In the event of any such resignation, the Purchaser and the Company shall appoint a successor Escrow Agent.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Construction Agent means the Lessee in its capacity as construction agent pursuant to the Construction Agency Agreement.