Examples of Escrow Fund Amount in a sentence
Accumulated income on the Escrow Fund shall be distributed on a calendar quarter basis to the Sellers, provided that the market value of the Escrow Fund (before deduction for any pending and unpaid Claimed Amounts) shall not be reduced below the Minimum Escrow Fund Amount specified in paragraph (c) below.
Accumulated income on the Escrow Fund shall be distributed on a calendar quarter basis to the Seller, provided that the market value of the Escrow Fund (before deduction for any pending and unpaid Claimed Amounts) shall not be reduced below the Minimum Escrow Fund Amount specified in paragraph (c) below.
The Escrow Agent shall hold the Escrow Fund Amount in accordance with the terms of this Agreement and an escrow agreement in substantially the form of Exhibit F attached hereto (the “Escrow Agreement”).
The applicable "Minimum Escrow Fund Amount" shall be as follows: for the period from August 28, 2000, through and including August 27, 2001, $500,000; for the period from August 28, 2001, through and including August 27, 2002, $333,000; for the period from August 28, 2002, through and including August 27, 2003, $166,000.
At Closing, upon receipt of the Purchase Price, pursuant to Section 2 above, Sellers shall deliver the Escrow Fund Amount, defined below in Section 7(c) to the Escrow Agent, defined below in Section 8(a).