Escrow Fund definition
Examples of Escrow Fund in a sentence
The escrow fund established pursuant to the Escrow Agreement in respect of the Escrow Amount is referred to herein as the “Escrow Fund.” The Escrow Fund shall be released as provided in Section 2.4(e).
On the Closing Date, Parent shall cause to be delivered to the Escrow Agent in cash as a contribution to the Escrow Fund, an amount equal to the Escrow Amount.
For the avoidance of doubt, in no event shall Purchaser be entitled to recover an amount that exceeds the amount of funds in the Escrow Fund.
The Escrow Fund: (x) shall be held by the Escrow Agent in accordance with the terms of this Agreement and the terms of the Escrow Agreement; and (y) shall be held and disbursed solely for the purposes and in accordance with the terms hereof and the terms of the Escrow Agreement.
Escrow Agent shall not make any payment of all or a portion of the Escrow Fund, to any person unless and until such person has provided to Escrow Agent such documents as Escrow Agent may require to permit Escrow Agent to comply with its obligations under such Act.