Environmental Escrow Account definition

Environmental Escrow Account has the meaning set forth in Section 3.4(a).
Sample 1Sample 2Sample 3
Environmental Escrow Account has the meaning set forth in Section 2.4(b)(vii) the disbursements from which shall be as described in Section 6.13 and governed by the terms of the Escrow Agreement.
Sample 1Sample 2
Environmental Escrow Account has the meaning set forth in Section 2.6(c).
Sample 1

Examples of Environmental Escrow Account in a sentence

  • The Environmental Escrow Account shall be established pursuant to the Escrow Agreement as security for the performance by Seller of the Corrective Actions or UST Repair Actions, in each case for which Seller has Responsibility.

  • Upon the correcting of all Environmental Conditions or other resolution reasonably satisfactory to Lender with respect thereto, provided no Event of Default is then continuing, any amounts then remaining in the Environmental Escrow Account shall promptly be remitted to Borrower and the Environmental Escrow Account will no longer be maintained.

  • Upon the correcting of all Deferred Maintenance Conditions, provided no Event of Default or Trigger Period is then continuing, any amounts then remaining in the Deferred Maintenance Reserve Account shall promptly be remitted to Borrower and the Deferred Maintenance and Environmental Escrow Account will no longer be maintained.

  • Upon completion of such environmental assessment, the Parent shall cause a copy of all written reports and analytical results to be delivered to the Company and the Parent and the Company shall engage in a good faith effort to mutually agree in writing on an amount to be deposited into the Rochester Environmental Escrow Account to provide the indemnification set forth in Section 10.2(b)(i)(B) (the "Rochester Environmental Escrow Amount").

  • Seller hereby authorizes and instructs Buyer, at the Closing, to deduct the General Escrow Amount and the Environmental Escrow Amount from the Purchase Price, and deliver such funds to the Escrow Agent to be held in the General Escrow Account or the Environmental Escrow Account, as applicable, in accordance with the terms and conditions of this Agreement and the Escrow Agreement.

  • In connection with Tenant’s work pursuant to Schedules 10.1 and 20.3 to the Side Letter, Tenant has provided funds to Landlord which in turn have been provided by Landlord to Landlord Mortgagee to be held in and disbursed from the Deferred Maintenance and Environmental Escrow Account (as defined in the Landlord Mortgage Documents) in accordance with the terms of the Landlord Mortgage Documents.

  • Buyer shall have delivered the Closing Payment to Sellers, together with all other documents or things reasonably required to perform Buyer's obligations hereunder, and shall have deposited the funds stated in Section 2.3(b) into the Environmental Escrow Account, the Bulk Sales Escrow Account, the IRB Escrow Account and the Real Estate Tax Escrow Account.

  • Until the date that is ninety (90) days after the Environmental Escrow Account has been exhausted or all such amounts remaining therein have been released to Seller pursuant to the Escrow Agreement, Seller shall have the right to review the completed Environmental Work, verify the accuracy of any disbursement from the Environmental Escrow Account prior to such disbursement, and verify the Estimated Environmental Costs and Final Environmental Costs.

  • The Environmental Escrow Account, the Bulk Sales Escrow Account, the Bond Fund, and the Real Estate Tax Escrow Account shall have been established as required by this Agreement.

  • If the Final Estimated Environmental Costs is greater than, or lesser than, the Estimated Environmental Costs, the Seller’s Environmental Escrow Contribution shall be adjusted upwards or downwards accordingly and the amounts shall be deposited to or disbursed from the Environmental Escrow Account as required to correspond to the Final Estimated Environmental Costs.


More Definitions of Environmental Escrow Account

Environmental Escrow Account shall have the meaning set forth in Section 8.5 (d) hereof.
Sample 1
Environmental Escrow Account means such escrow account maintained by Purchaser at the Environmental Escrow Agent, and all securities, security entitlements, cash, financial assets and investment property in such account from time to time, now or in the future, and all other rights of Purchaser against the Environmental Escrow Agent arising out of such account, and together with all interest, earnings and proceeds from, on or of all or any of the foregoing, in whatever form, and all proceeds of such proceeds. Interest and other proceeds earned on the escrow funds in the Environmental Escrow Account shall be for the account of Purchaser, and shall be retained as part of the escrow funds in the Environmental Escrow Account to be disbursed as provided in this Agreement and the Environmental Escrow Agreement. Purchaser shall grant to Seller a first priority security interest in the Environmental Escrow Account as security for the payment and performance of Purchaser's assumption and indemnification obligations under Section 8.4(b) of this Agreement, now existing or hereafter arising. The escrow agreement with each Environmental Escrow Agent shall contain control provisions in form and substance satisfactory to Seller in order to perfect such security interest whereby Purchaser directs the Environmental Escrow Agent to comply with entitlement orders with respect to the Environmental Escrow Account originated by Seller before the Environmental Escrow Termination Date which are in accordance with this Agreement without further consent by Purchaser, and the Environmental Escrow Agent agrees to so comply. Each Environmental Escrow Agent shall waive any security interest or lien or right of setoff in the Environmental Escrow Account. The funds in the Environmental Escrow Account shall be invested only as permitted by the Environmental Escrow Agreement. Funds shall be withdrawn
Sample 1
Environmental Escrow Account means the escrow account established pursuant to the Environmental Escrow Agreement (Escrow Account No. 33-984030).
Sample 1

Related to Environmental Escrow Account

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

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

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • 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.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Environmental Problem Property A Mortgaged Property or REO Property that is in violation of any environmental law, rule or regulation.

  • Indemnity Escrow Amount means $3,000,000.

  • 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.

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Environmental Contamination means the introduction or presence of Hazardous Materials at such levels, quantities or location, or of such form or character, as to constitute a violation of federal, state or local laws or regulations, and present a material risk under federal, state or local laws and regulations that the Premises will not be available or usable for the purposes contemplated by this Agreement.

  • Environmental Clean-up Site means any location which is listed or proposed for listing on the National Priorities List, the Comprehensive Environmental Response, Compensation and Liability Information System, or on any similar state list of sites relating to investigation or cleanup, or which is the subject of any pending or threatened action, suit, proceeding, or investigation related to or arising from any location at which there has been a Release or threatened or suspected Release of a Hazardous Material.

  • Environmental Conditions means any conditions of the environment, including, without limitation, the work place, the ocean, natural resources (including flora or fauna), soil, surface water, ground water, any actual or potential drinking water supply sources, substrata or the ambient air, relating to or arising out of, or caused by the use, handling, storage, treatment, recycling, generation, transportation, Release or threatened Release or other management or mismanagement of Regulated Substances resulting from the use of, or operations on, the Property.

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Pre-Closing Environmental Liabilities means all environmental conditions at or arising from operations at the Owned Real Property at any time prior to the Closing Date, irrespective of the date of its discovery, including arising as a result of the presence or any Release of any Hazardous Substance on, at, under or migrating onto or from the Owned Real Property, including any environmental conditions on, at, under or migrating onto or from the Owned Real Property in Schedule 1.1(3).

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

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

  • Escrow Property means the Escrow Funds and the Certificates delivered to the Escrow Agent as contemplated by Section 1(c) hereof.

  • Environmental Loss means any loss, cost, damage, liability, deficiency, fine, penalty or expense (including, without limitation, reasonable attorneys' fees, engineering and other professional or expert fees), investigation, removal, cleanup and remedial costs (voluntarily or involuntarily incurred) and damages to, loss of the use of or decrease in value of the Equipment arising out of or related to any Adverse Environmental Condition.

  • Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.

  • Environmental Requirement means any Environmental Law, agreement or restriction, as the same now exists or may be changed or amended or come into effect in the future, which pertains to any Hazardous Material or the environment including ground or air or water or noise pollution or contamination, and underground or aboveground tanks.

  • Environmental Harm means serious or material environmental harm or environmental nuisance as defined in the Environmental Protection Xxx 0000 (Qld);

  • 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.

  • Environmental Requirements means all Laws and requirements relating to human, health, safety or protection of the environment or to emissions, discharges, releases or threatened releases of pollutants, contaminants, or Hazardous Materials in the environment (including, without limitation, ambient air, surface water, ground water, land surface or subsurface strata), or otherwise relating to the treatment, storage, disposal, transport or handling of any Hazardous Materials.

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

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