Deposit of Escrow Funds. By its execution hereof, Recipient acknowledges that the deposit of the Escrow Funds into escrow with Escrow Agent does not confer any rights or claims to the Escrow Funds by Recipient unless all of the conditions in Section 2 above and the conditions as set forth in the Grant Agreement, have been satisfied.
Deposit of Escrow Funds. Escrow Holder acknowledges the receipt from Seller of _________________ Thousand and No/100 Dollars ($____________.00) (the “Escrow Funds”). The Escrow Funds are the property of Guarantor subject to the terms of this Agreement. Escrow Holder shall disburse the Escrow Funds in strict accordance with the terms of this Agreement.
Deposit of Escrow Funds. Simultaneously with the execution and delivery of this Escrow Agreement, the Company will transfer the Escrow Funds in the amount set forth on Schedule A hereto to Escrow Agent, by wire transfer of immediately available funds, to the account of the Escrow Agent referenced on Schedule A hereto. The Escrow Funds shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes as set forth in this Escrow Agreement. The Officer and his beneficiaries shall have no preferred claim on, or any beneficial ownership interest in the Escrow Funds. Any rights created under this Escrow Agreement shall be mere unsecured contractual rights of the Officer. The Escrow Funds held by the Escrow Agent will be subject to the claims of the Company’s general creditors under federal and state law in the event of Insolvency.
Deposit of Escrow Funds. Within five (5) business days of the execution and delivery of this Escrow Agreement, Depositor will transfer the Escrow Funds in the amount $_____ by wire transfer of immediately available funds, to an account designated by Escrow Agent.
Deposit of Escrow Funds. Simultaneously with the execution and delivery of this Agreement, Purchaser will transfer the Escrow Funds in the aggregate amount of One Million Four Hundred Fifty Thousand Dollars ($1,450,000.00), by wire transfer of immediately available funds, to accounts designated by Escrow Agent (the “Escrow Account”). Escrow Funds will remain uninvested except as provided in Section 7.
Deposit of Escrow Funds. Upon execution of a subscription agreement, the Subscribing Stockholder shall have delivered to the Escrow Agent, via check or wire transfer, the sum total equal to the Purchase Price, which sum shall remain in the Client Trust Account at Bank of America, N.A. held for the benefit of the Subscribing Stockholder, to be held and disbursed subject to the terms and conditions of this Agreement.
Deposit of Escrow Funds. Simultaneously with the execution and delivery of this Escrow Agreement, Purchaser will transfer the Escrow Funds in the amount of USD Three Million Dollars (USD $3,000,000.00) by wire transfer of immediately available funds, to an account designated by Escrow Agent.
Deposit of Escrow Funds a. Within 30 days of the Effective Date of the Settlement, (1) TIN will deposit $4,250,000 with the Escrow Agent to form the Real Property Owners Fund; (2) TIN will deposit $2,750,000 with the Escrow Agent to form the Business Entities Fund; (3) TIN will deposit $1,500,000 with the Escrow Agent to form the Other Impacted Persons Fund; and (4) TIN will deposit $500,000 with the Escrow Agent to form the Other Losses Fund. The deposits made by TIN are collectively referred to as the “Settlement Funds Escrow Deposits,” and, together with any investment income or proceeds received by the Escrow Agent from the investment thereof from time to time pursuant to Section 2 below, collectively, the “Settlement Funds Escrow Property.” The Escrow Agent agrees to hold the Settlement Funds Escrow Property in accounts established with the Escrow Agent (“Settlement Funds Escrow Accounts”), such that the Settlement Funds Escrow Property will be segregated from other assets of the Interested Parties pursuant to the Qualified Settlement Fund requirements in Treasury Regulation Section 1.468B-1 of the IRC. The Escrow Agent also agrees to administer the Settlement Funds Escrow Property in accordance with the terms of this Agreement.
b. The Settlement Funds Escrow Property is to be held in the Settlement Funds Escrow Accounts until fully disbursed in accordance with the terms of the Amended Settlement Agreement, this Agreement and applicable orders of the Court. The Escrow Agent shall follow the directions given by the Special Master or the Settlement Administrator with respect to any disbursements of the Settlement Funds Escrow Property. The Escrow Agent shall notify the following representative of TIN whenever a disbursement is made: Xxx Xxxx, Xxxxxx Xxxxx Xxxxxxx Xxxxx & Xxxxx LLP, 000 Xxxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxx, XX 00000.
Deposit of Escrow Funds. Simultaneously with its submission of its written bid for the acquisition of the Purchased Assets under the terms of the Sale Procedures Order, Depositor will transfer the Escrow Funds in the amount set forth on Schedule A hereto, representing the “Deposit,” to Escrow Agent, by wire transfer of immediately available funds, to the account of the Escrow Agent referenced on Schedule A hereto.
Deposit of Escrow Funds. The initial funds to be deposited with the Escrow Agent will be as follows:
(a) Concurrently with the execution and delivery hereof and the issuance of the Notes:
(i) as provided in the Notes Purchase Agreement, the Escrow Issuer, will deposit with the Escrow Agent in cash or by wire transfer in immediately available funds the sum representing 100% of the gross proceeds of the issuance of the Notes (which, for the avoidance of doubt, shall equal $600,000,000) (the “Proceeds Deposit”); and
(ii) the Escrow Issuer will deposit with the Escrow Agent in cash or by wire transfer in immediately available funds an amount that, together with the Proceeds Deposit, is not less than the amount required to redeem in cash, on the third Business Day following January 16, 2018 (the “Escrow Outside Date”), the Notes at 100% of the principal amount thereof pursuant to the terms of the Indenture, together with any accrued and unpaid interest to, but not including, the Special Mandatory Redemption (the “Escrow Issuer Deposit”). As a result of the Proceeds Deposit and the Escrow Issuer Deposit made pursuant to clauses (i) and (ii) above, the aggregate amount deposited with the Escrow Agent on the date hereof will be $608,693,750.00 (the “Initial Deposit”).
(b) The Escrow Agent will accept the Initial Deposit and will hold such funds, all investments thereof, any Distributions (as defined below) and the proceeds of the foregoing in a registered money market securities account created by the Escrow Agent prior to or concurrently with the issuance of the Notes. Such securities account shall have account number 276278000 and shall be maintained by the Escrow Agent in the name of the Trustee (the “Escrow Account”) for disbursement in accordance with the provisions hereof. The Trustee will be the “Entitlement Holder” and “Customer” of the Escrow Agent with respect to the Escrow Account. The Escrow Issuer will not have any access to the Escrow Account or funds, investments or other assets credited thereto, other than the limited contractual right to receive the Escrow Property (as defined below) under the circumstances specified in Section 4 hereof. The Initial Deposit, the Escrow Account and all funds, securities or other property now or hereafter credited to the Escrow Account, all investments of any of the foregoing, plus all interest, dividends and other distributions and payments with respect to any of the foregoing (collectively the “Distributions”) received or receivable by th...
