Escrow Funding definition

Escrow Funding means the funding of an escrow account held in the United States by a nationally recognized United States banking institution in an amount equal to $15,000,000 in immediately available United States dollars, such amount having been deposited in escrow (i) for purposes of unconditionally (other than with respect to the terms and conditions set forth in this Agreement) securing any applicable Reverse Termination Fee that may become payable hereunder, including any Recovery Costs, together with any other monetary recovery or award that may become payable to the Company in accordance with the terms hereof, and (ii) under an escrow agreement reasonably acceptable to the Company and the Parent Entities.

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Escrow Funding has the meaning set forth in Section 2.24(a).

Escrow Funding is defined in Section 16.7.

Examples of Escrow Funding in a sentence

• If, before the expiration of such periods or forfeiture, there shall occur another Escrow Funding Event, the Employer will not be required to make an additional deposit, but the two (2) year period shall then be measured from the date of the last such event.

• The Administrative Agent shall notify the Borrower and the Lenders of the Escrow Funding Date as soon as practicable upon its occurrence, and such notice shall be conclusive and binding.

• The Administrative Agent shall have received a customary closing certificate, dated as of the Closing Date and signed by a Responsible Officer of the Borrower on behalf of each Loan Party, confirming compliance with the conditions precedent set forth in Sections 4.01(j), (k), (l), (o) and (s) as of the Escrow Funding Date or Closing Date, as applicable.

• If (x) this Agreement is terminated for any reason or (y) Closing has not occurred within four (4) Business Days after the Subscription Escrow Funding Date, the funds held in the Subscription Escrow Account shall be released, and each Commitment Party shall receive from the Subscription Escrow Account the cash amount actually funded to the Subscription Escrow Account by such Commitment Party, without any interest, as soon as practicable thereafter.

• From November 6, 2018 to the Escrow Funding Date, there shall not have occurred any Material Adverse Effect (as defined in the Acquisition Agreement).

• As of the Escrow Funding Date, (i) the Specified Acquisition Agreement Representations shall be accurate in all material respects (without duplication of any materiality qualifier set forth therein) and (ii) the Specified Representations shall be accurate in all material respects (without duplication of any materiality qualifier set forth therein).

• No merger or consolidation with any other entity, or sale of all or substantially all of Employer's assets constituting an Escrow Funding Event, or thereafter a Change in Control shall occur without assumption of the Agreement by the purchaser or payment by purchaser or Employer of the sums set forth in subsection (a) of Section 2 of this Agreement.

• If the Representative and Parent should so agree, a memorandum setting forth such agreement will be prepared and signed by both parties and, except as set forth in the next sentence, within ten days of entering into such memorandum, each Indemnifying Securityholder will wire transfer to Parent immediately available funds equal to its Aggregate Escrow Funding Percentage of the amount of cash agreed to be delivered to Parent in the memorandum.

• The Loan shall be disbursed only from, and only to the extent that on each Escrow Funding Date funds not heretofore committed are available to make the Loan from moneys in, the "Innovation Ohio Loan Fund" created by the Act and as defined in the Act.

• All reasonable and documented expenses, if any, incurred by the Representative in connection with the performance of his, her or its duties as the Representative in connection with General Liability Claims will be borne and paid by the Indemnifying Securityholders according to their Aggregate Escrow Funding Percentage (the “General Representative Expenses”).

More Definitions of Escrow Funding

Escrow Funding has the meaning specified in the introductory paragraph hereto.

Escrow Funding. ▇▇▇▇▇▇ has assumed the Lease Proceeds will fund into

Escrow Funding means the exit financing arranged by Credit Suisse Securities (USA) LLC regarding the issuance of $750,000,000 first lien secured notes and $250,000,000 second lien notes (collectively the “Exit Notes”) whereby the funds from the Exit Notes will be issued to the respective Escrow Vehicles and deposited into respective escrow accounts until such time as all conditions precedent are satisfied under each of the Exit Notes.

Escrow Funding means the funding on the Escrow Funding Date by the Lenders into the Escrow Account of an amount equal to the aggregate principal amount of all Loans to be made to the Borrower on the Closing Date in accordance with the procedures set forth in Section 9.18.