Defect Escrow Account definition

Defect Escrow Account means the account established pursuant to the Escrow Agreement holding the Disputed Amounts (as the same may be adjusted pursuant to the terms of this Agreement).
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Defect Escrow Account is defined in Section 3.1(e)(i).
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Defect Escrow Account means the “Defect Escrow Account” (as defined in the Escrow Agreement).
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Examples of Defect Escrow Account in a sentence

  • President Miller responded that he did not know the percentage, but that it was decreasing each year and it is expected that English A will eventually disappear.

  • The Parties agree that, for federal, state, local and foreign tax purposes, any interest or other earnings on the amounts held in the Escrow Account or the Defect Escrow Account during a calendar year period shall be treated as (i) to the extent earned prior to Closing, as the income of Buyer in accordance with Treasury Regulation Section 1.468B-7(c) and (ii) to the extent earned from and after Closing, as the income of Buyer in accordance with Proposed Treasury Regulation Section 1.468B-8(c).

  • Within two (2) Business Days following the Expert Decision, Seller and Buyer shall execute and deliver a joint written instruction to the Transfer Agent to release the number of Title Escrow Shares and Environmental Escrow Shares (as applicable) from the Defect Escrow Account so determined to be owed to either Party with respect to the Disputed Matters, in each case, in accordance with the Expert Decision.

  • If the Parties agree that any Title Defect that Seller elects to cure pursuant to Section 6.5(a) has been cured by Seller on or prior to the Cure Deadline, then Buyer and Seller shall promptly direct the Escrow Agent to release to Seller the Title Defect Value attributable to such Title Defect from the Defect Escrow Account.

  • The Parties agree that the amount of any interest imputed on any amounts distributed to Seller from the Defect Escrow Account in accordance with Section 483 or Section 1274 of the Code will at least equal the amount of any interest or other earnings reported as income of Buyer pursuant to Section 2.4(b)(ii) above.

  • The Contractor shall be entitled to and may receive upon request one copy of the designated representative's daily report.12.

  • If the Parties agree that any such Title Defect that Seller elects to cure pursuant to Section 6.5(a) is not cured by Seller prior to the Cure Deadline, then the Parties shall promptly direct the Escrow Agent to release to Buyer the applicable Title Defect Value attributable to such Title Defect from the Defect Escrow Account in accordance with the terms of the Escrow Agreement.

  • Among all tested species, the most sensitive individuals to silver were the poorly nourished and young and those exposed to low water hardness or salinity.

  • A wire transfer of the Defect Escrow Amount in same day funds to the Defect Escrow Account as provided in Section3.8(e), if applicable.

  • Within two (2) Business Days following the final decision of the Title Arbitrator, Seller and Buyer shall execute and deliver a joint written instruction to the Escrow Agent to release the Title Defect Amount (or portion thereof) from the Defect Escrow Account so determined to be owed to either Party with respect to the applicable dispute, in accordance with such decision.


More Definitions of Defect Escrow Account

Defect Escrow Account shall have the meaning assigned thereto in Section 4.5(a).
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Defect Escrow Account has the meaning set forth in Section 12.11(a).
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Defect Escrow Account has the meaning assigned to such term in Section 3.8(e).
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Defect Escrow Account is defined in Section 2.7.
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Related to Defect Escrow Account

  • Indemnity Escrow Account has the meaning set forth in Section 2.3(c).

  • Adjustment Escrow Account has the meaning set forth in Section 2.4(a)(i).

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

  • Title Defect Property has the meaning set forth in Section 6.2(a).

  • Escrow Accounts means any escrow account in which Escrowed Proceeds are deposited and held.

  • Indemnity Escrow Amount means $5,000,000.

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Adjustment Escrow Amount means $1,000,000.

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Purchase Price Adjustment Escrow Amount means $500,000.

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows:

  • Indemnity Escrow Agreement has the meaning set forth in Section 1.5.

  • Earnest Money Deposit (EMD) means the refundable amount to be submitted by the Bidder along with RFP documents to NMRC

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C hereof.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.

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

  • Title Defect means with respect to a Lease any lien, encumbrance, adverse claim, default, expiration, failure, defect in or objection to real property title, other than Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ title to the Lease less than Defensible Title.

  • Environmental Defect Value means, with respect to any Environmental Defect, the value, as of the Closing Date, of the estimated costs and expenses to correct such Environmental Defect in the most cost-effective manner reasonably available, consistent with Environmental Laws, taking into account that non-permanent remedies (such as mechanisms to contain or stabilize hazardous materials, including monitoring site conditions, natural attenuation, risk-based corrective action, institutional controls or other appropriate restrictions on the use of property, caps, dikes, encapsulation, leachate collection systems, etc.) may be the most cost-effective manner reasonably available.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.