Escrow Agreement definition
Examples of Escrow Agreement in a sentence
If for any reason the Closing (as defined in the Purchase Agreement) does not occur, the Escrowed Facilities Amount shall be returned to the Agent in accordance with Section 4(b) of the Escrow Agreement and the Agent shall promptly return to each Lender the portion of the Escrowed Facilities Amount delivered by such Lender.
The Escrow Funds shall be released from escrow and applied by the Escrow Agent in accordance with the Escrow Agreement upon the occurrence of the “Second Merger Effective Time” (as defined in the Acquisition Agreement) pursuant to the Articles of Second Merger (as defined in the Acquisition Agreement).
Notwithstanding the foregoing, on the Closing Date, pursuant to the Escrow Agreement but subject to Section 2.6(e), the Administrative Agent will cause the Escrow Funds to be deposited into a segregated escrow account (the “Escrow Account”), which Escrow Funds will be released to the Borrower on the Escrow Release Date to be applied in accordance with the terms hereof.