Escrow Demat Account definition

Escrow Demat Account means the common dematerialised account to be opened by the Share Escrow Agent with the Depository Participant to keep the Offered Shares in escrow in terms of this Agreement;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Escrow Demat Account means the dematerialized account opened in accordance with this Agreement by the Share Escrow Agent with the Depository Participant to keep the Final Offered Shares in escrow, the details of the account have been provided in Annexure B.

Escrow Demat Account means the dematerialized account opened by the Share Escrow Agent with the Depository Participant to keep the Final Offered Shares in escrow, the details of the account have been provided in Annexure B. “Failure of the Offer” shall have the same meaning assigned to such term in Clause 5.3.

Examples of Escrow Demat Account in a sentence

Further, the Share Escrow Agent is requested to close the Escrow Demat Account pursuant to Clause 9 of Share Escrow Agreement.
The Escrow Demat Account shall be operated strictly in the manner set out in this Agreement.
Such written intimation shall be sent in accordance with Clause 10.1, such that it is received on the day the Escrow Demat Account is opened.
Provided, however, that the Parties agree and acknowledge that the Red ▇▇▇▇▇▇▇ Prospectus shall not be filed unless the Offered Shares are debited from each Selling Shareholders’ Demat Account and successfully credited into the Escrow Demat Account.
Provided that, the Share Escrow Agent shall ensure that the Escrow Demat Account is opened in time for the Selling Shareholders to comply with Clause 3.1 below.
Thereafter, the Share Escrow Agent is requested to close the Escrow Demat Account pursuant to Clause 9 of the Share Escrow Agreement.
Such written intimation shall be sent in accordance with Clause 10.1, such that it is received on the same day on which the Escrow Demat Account is opened.
The Escrow Demat Account shall at all times be operated strictly in the manner set out in this Agreement.
The Parties further agree that, if the Offered Shares, or any part thereof, are credited back to the respective Selling Shareholders pursuant to Clause 5 and Clause 9 of this Agreement, each such Selling Shareholder shall continue to be the legal and beneficial owner of its respective portion of the Offered Shares (or any part thereof) and shall continue to enjoy the rights attached to such Offered Shares as if no Offered Shares had been credited to the Escrow Demat Account by such Selling Shareholder.
It is hereby clarified that the Registrar to the Offer or Share Escrow Agent shall not have any recourse to any of the Selling Shareholders or the Offered Shares placed in the Escrow Demat Account, for any amounts due and payable in respect of their services under this Agreement or the Offer.

More Definitions of Escrow Demat Account

Escrow Demat Account means the common 6ematerialized account to be opened by the Share Escrow Agent with the Depository Participant to keep the Offered Shares in escrow in terms of this Agreement;

Escrow Demat Account means the dematerialized account bearing number IN30311614579913 opened by the Share Escrow Agent with the Depository(ies) to keep the Offered Shares in escrow in terms of this Agreement;

Escrow Demat Account means the dematerialized account to be opened by the Share Escrow Agent with the Depository Participant to keep the Offered Shares in escrow. Event of Failure shall mean the occurrence of one or more of the following events:

Escrow Demat Account means the common dematerialized account opened in accordance with this Agreement with the Depository(ies) to keep the Offered Shares in escrow, the details of such Depository(ies) have been provided in Schedule A1;