Escrow Arrangement has the meaning set out in Section 4.7;
Escrow Arrangement means an agreement between the Provider and the National Computing Centre (“NCC”) for the benefit of the Commissioner for current version of the source code of software, on the basis of the appropriate NCC standard terms approved by the Commissioner;
Escrow Arrangement means an arrangement whereby the proceeds of the Loans are funded and/or transferred to one or more bank accounts of the Borrower or one or more wholly-owned Subsidiaries of the Borrower pursuant to irrevocable instructions given to the depositary bank in each instance that (i) the Borrower or such Subsidiary shall only be permitted to disburse such funds (x) in connection with foreign exchange transactions in connection with the Transactions; provided that the proceeds of any such foreign exchange transactions are deposited in bank accounts pursuant to the irrevocable instructions to the applicable depositary bank described in this definition and (y) to the Depositary and other payees pursuant to Section 6.03(3) of the Arrangement Agreement and (ii) require it to return such funds to the Administrative Agent on the third Business Day following the funding of the Loans unless such funds shall have been disbursed as permitted by clause (i)(y) of this definition on or prior to such date; provided that (A) amounts so returned to the Administrative Agent shall be in United States dollars (converted if necessary by the depositary bank from the currency in which they are then held) and (B) any currency exchange gains or losses shall be for the sole account of the Borrower and shall not affect its obligations to repay the Loans in accordance with Section 2.05. The Escrow Arrangement shall be documented in a manner reasonably satisfactory to the Administrative Agent.
Examples of Escrow Arrangement in a sentence
As a payment security measure DISCOM will have to maintain LC and Escrow Arrangement as defined in the PPA.
The Escrow Arrangement shall be maintained until the earlier of (A) eighteen (18) months after the occurrence of the first event constituting a Change in Control or (B) the payment to Executive of the Parachute Amount pursuant to the provisions of Subparagraph 8(b)(i).
Within fifteen (15) days after the occurrence of the first event constituting a Change in Control, the Company shall place funds in an amount equal to the estimated Parachute Amount in escrow, pursuant to arrangements that are mutually acceptable to the Company and Executive providing for the payment of the Parachute Amount in the event Executive becomes entitled thereto pursuant to Subparagraph 8(b)(i) (the "Escrow Arrangement").
In the event Xxxxxxxx is required to recognize income tax as a result of the Escrow Arrangement, the Company will release a portion of the severance amounts secured by the Escrow Arrangement sufficient to permit Xxxxxxxx to pay such taxes, and the severance amounts shall be reduced by the amount so released.
In addition all our PPAs signed recently have included additional clause for ‘Payment Security Mechanism’, which requires that after the expiry period of the Tripartite Agreement, an alternative payment security arrangement in the form of Default Escrow Arrangement as a back to amount of the LC shall be provided.
More Definitions of Escrow Arrangement
Escrow Arrangement means the execution by the Parties and the Escrow Agent of the Escrow Agreement and the deposit of the full amount of the Escrow Cash by the Purchaser in the Escrow Account no later than two (2) Business Days prior to the Closing Date.
Escrow Arrangement means any agreement pertaining to shares required to be escrowed pursuant to any policy or requirement of the BC Securities Commission, the Exchange or equivalent regulatory authority having jurisdiction over the Issuer;
Escrow Arrangement means an arrangement whereby the proceeds of the Loans are funded and/or transferred to bank accounts of the Borrower or one or more wholly-owned Subsidiaries of the Borrower pursuant to irrevocable instructions given to the depositary bank in each instance that require it either (i) to transfer the funds to a bank account of the Borrower or of another Person whom Borrower represents to be a wholly-owned Subsidiary of the Borrower, (ii) to otherwise disburse such funds as directed by the Borrower, but only upon receipt of a written representation from Borrower that substantially simultaneously therewith, the Acquisition shall be consummated or (iii) to return such funds to the Agent, which such depositary bank will in any event be instructed to do on December 31, 2007 unless it shall have received the instruction contemplated by clause (ii) on or prior to such date. The Escrow Arrangement may involve the purchase of one or more foreign currencies; provided that (x) amounts returned to the Administrative Agent pursuant to (iii) above shall be in United States dollars (converted if necessary by the depositary bank from the currency in which they are then held) and (y) any currency exchange gains or losses shall be for the sole account of the Borrower and shall not affect its obligations to repay the Loans in accordance with Section 2.04. The Escrow Arrangement shall be documented in a manner reasonably satisfactory to the Administrative Agent.
Escrow Arrangement means a written or oral agreement under which money, documents, instruments or other property is delivered to a person to be held by that person for disbursement or delivery in accordance with the agreement of the parties upon (A) the happening of a certain specified event or events, or (B) the delivery to the escrow holder of money, documents, instruments or other specified property with a subsequent disbursement or delivery of such money, documents, instruments or other specified property received by the escrow holder in accordance with the agreement of the parties.
Escrow Arrangement means an escrow or similar arrangement in form and substance satisfactory to the Administrative Agent, pursuant to which funds are irrevocably deposited in an amount sufficient to redeem the NBD Subordinated Notes in full.
Escrow Arrangement means an agreement between the Provider and the National Computing Centre (“NCC”) or other similar body for the benefit of the Commissioners for the current version of the source code of software, on the basis of the appropriate NCC or other similar body’s standard terms approved by the Co-ordinating Commissioner; “Establishment Agreement” means the agreement between NHS Bodies establishing a Specialised Commissioning Group and allocating certain functions and responsibilities to it relating to the procurement of specialised services; “Event of Force Majeure” means an event or circumstance which is beyond the reasonable control of the Party claiming relief under clause 37 (Force Majeure), including without limitation war, civil war, armed conflict or terrorism, strikes or lock outs, riot, fire, flood or earthquake, and which directly causes that Party to be unable to comply with all or a material part of its obligations under this Agreement, but excluding Major Incidents; “Excusing Notice” means a notice in writing made under clause 28.10 (Contract Management); “Expiry Date” means [DATE]; “Fair Deal for Staff Pensions” means the guidance note issued by HM Treasury in June 2004 titled “FAIR DEAL FOR STAFF PENSIONS: PROCUREMENT OF BULK TRANSFER AGREEMENTS AND RELATED ISSUES” relating to the treatment of pension issues in compulsory transfers of public sector staff including NHS staff, as amended, superseded or otherwise from time to time; “Final Reconciliation Point” [means 31 December in each year of the term of this Agreement];