Escrow Collection Bank definition

Escrow Collection Bank means a bank, which is a clearing member and registered with SEBI as a banker to an issue under BTI Regulations and with whom the ‘escrow accounts’ have been opened, pursuant to the Cash Escrow and Sponsor Bank Agreement.

Escrow Collection Bank means a bank which is a clearing member and registered with SEBI as a banker to an issue under the Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994, and with whom the Escrow Accounts in relation to the Offer for Bids by Anchor Investors will be opened, in this case being HDFC Bank Limited and ICICI Bank Limited.

Escrow Collection Bank shall have the meaning ascribed to such term in the preamble to this Agreement;

Examples of Escrow Collection Bank in a sentence

• The Escrow Collection Bank shall, immediately, and in any case, not later than one (1) Working Day from the receipt of such notice, transfer, with notice to the Company and the Selling Shareholders, all amounts standing to the credit of the Escrow Accounts and the Public Offer Account, as applicable, to the Refund Account held with the Refund Bank, in accordance with the instructions received from the BRLMs and the Registrar in the prescribed form in Annexure C.

• The Escrow Collection Bank, Public Offer Account Bank, the Refund Bank, the Sponsor Banks and the Registrar to the Offer undertake that their respective branch(es) or any Affiliate to whom they disclose information pursuant to this Agreement, shall abide by the confidentiality obligations imposed by this Section 12.

• The Company and the Selling Shareholders may in consultation with the BRLMs appoint a new escrow collection bank, public offer account bank, sponsor bank(s) or refund bank or designate one of the existing Bankers to the Offer as a substitute for the retiring Escrow Collection Bank, Public Offer Account Bank, Refund Bank or Sponsor Banks within fourteen (14) days of the termination of this Agreement as aforesaid.

• In relation to the Surplus Amount transferred to the Refund Bank by the Escrow Collection Bank, the Refund Bank shall ensure the transfer of the Surplus Amount to the account of the Beneficiaries and immediately upon such transfer, the Refund Bank shall intimate the Registrar, the BRLMs, the Company and the Selling Shareholders of such transfer.

• The amounts to be transferred to the Public Offer Account by the Escrow Collection Bank represent Bids from Anchor Investors that have received confirmed allocation in respect of the Equity Shares in the Offer and amounts, if any, paid by the Underwriters or any other person pursuant to any underwriting obligations in terms of the Underwriting Agreement.

More Definitions of Escrow Collection Bank

Escrow Collection Bank means the bank(s) which are clearing members and registered with SEBI as bankers to an issue and with whom the Escrow Account(s) will be opened, in this case being Axis Bank Limited;

Escrow Collection Bank shall have the meaning given to such term in the Preamble; “Estimated Offer Expenses” shall have the meaning given to such term in Section 3.2.3.8(i);

Escrow Collection Bank means Axis Bank Limited;

Escrow Collection Bank shall have the meaning given to such term in the Preamble;

Escrow Collection Bank means ICICI Bank Limited;

Escrow Collection Bank has the meaning ascribed to such term in the Preamble to this Agreement; “Event of Failure” means any of the events set out in Clause 3.2.1.1;

Escrow Collection Bank shall have the meaning ascribed to such term in the preamble to this Agreement, i.e. Axis Bank Limited;