Escrow Arrangement definition

Escrow Arrangement has the meaning set out in Section 4.7;

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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

• 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").

• 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).

• In the event ▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇▇ to pay such taxes, and the severance amounts shall be reduced by the amount so released.

• Each Party shall bear their respective costs in relation to the Escrow Arrangement and the Escrow Agent’s fee shall be shared equally, one half by the Purchaser and one half by the Sellers.

• On the Closing Date, provided all conditions precedent to Seller’s obligations hereunder have been satisfied (or waived) in accordance with Section 6.5, Seller shall assign and transfer all of the Membership Interests to Buyer and provided all conditions precedent to Buyer’s obligations hereunder have been satisfied (or waived) in accordance with Section 6.4, Buyer agrees to pay the Purchase Price to Seller, in each case, in accordance with the Escrow Arrangement.

More Definitions of Escrow Arrangement

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 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 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 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 agreement between the Provider and the National

Escrow Arrangement has the meaning ascribed to it in Clause 2.2.1. “Escrow Documents” means

Escrow Arrangement means that each party will, if it is legally able, pay any amount payable by it on the Settlement Date pursuant to a Transaction into escrow (the "Escrow Amount"). Each party will use reasonable efforts to deposit (or cause its escrow agent to