Escrow Income definition

Escrow Income is the amount of interestand/or dividends, if any, which shall have been (x) paid on or in respect of the Escrow Account (representing earnings on funds held therein) and (y) deposited in such Account as collected funds on or prior to the business day immediately preceding such Initial Closing Date or Additional Closing Date, as the case may be. If and to the extent that Escrow Income exceeds the aggregate fees payable to the Escrow Agent hereunder, such excess shall be paid to the Company at the Initial Closing or Additional Closing(s), as the case may be. The foregoing notwithstanding, if the Offering is terminated prior to the Initial Closing, the Escrow Agent shall be entitled to receive fees in the aggregate amount of $2,500, and no more, payable by the Company on demand. All terms used herein shall have the same meanings ascribed to them in the Escrow Agreement of which this Schedule is a part.
Escrow Income means any interest, dividends or income or proceeds that may accrue on the Escrow Deposit and the Escrow Funds.
Escrow Income is the amount of interest and/or dividends, if any, which shall have been (x) paid on or in respect of the Escrow Account (representing earnings on funds held therein) and (y) deposited in such Account as collected funds on or prior to the business day immediately preceding such Initial Closing Date or Additional Closing Date, as the case may be. If and to the extent that Escrow Income exceeds the aggregate fees payable to the Escrow Agent hereunder, such excess shall be paid to the Company at the Initial Closing or Additional Closing(s), as the case may be. The foregoing notwithstanding, if the Offering is terminated prior to the Initial Closing, pursuant to the provisions of Section 12 of the Managing Placement Agent Agreement or otherwise, the Escrow Agent shall be entitled to receive fees in the aggregate amount of $3,500, and no more, payable by the Company on demand. All terms used herein shall have the same meanings ascribed to them in the Escrow Agreement of which this Schedule is a part.

Examples of Escrow Income in a sentence

  • The Escrow Agent shall be entitled to request and receive appropriate forms executed by Buyer for reporting the Escrow Income and the Escrow Agent shall be responsible for reporting any Escrow Income earned to the Internal Revenue Service.

  • Notwithstanding any other provision of this Agreement, no later than thirty (30) days following the end of each Quarterly Period, the Escrow Agent shall distribute to Buyer out of the Escrow Property an amount equal to thirty percent (30%) of the Escrow Income earned through such date less any amounts previously distributed to Buyer pursuant to this Section 5 (each such distribution, a “Tax Distribution”).

  • On or before the fifteenth (15th) Business Day following each month during the term hereof, the Escrow Agent shall deliver account statements to Developer and Authority with respect to the Escrow Account for the prior month, which statements shall include the account balance, disbursements made pursuant to Section 4 hereof and Escrow Income earned during the preceding month.

  • Line 6 - Retained Title Insurance Charges - Line 4 less Line 5 (NOTE: Total is shown on Final Schedule) Non-Title Insurance Income Line 7 - Closing and Escrow Income - Report all income related to closing and escrow activities.

  • If at any time during the term of this Agreement the amount of any payment required to be made by the Escrow Agent to Buyer pursuant to Section 4(b) with respect to an Escrow Notice exceeds the amount of Escrow Funds in the Escrow Account, the Escrow Agent shall pay to Buyer the entire Escrow Fund (including any Escrow Income).


More Definitions of Escrow Income

Escrow Income means interest and proceeds earned on the Price Adjustment Escrow Amount and the Indemnity Escrow Amount.
Escrow Income has the meaning provided such term in Section 9.6(a).
Escrow Income means any interest income earned on funds deposited in the Escrow Account.
Escrow Income means all interest, dividends, income, capital gains and other amounts earned on the Escrowed Funds or derived therefrom.
Escrow Income means all interest or other income directly or indirectly earned and paid to the Escrow Agent on the Escrow Fund and held by the Escrow Agent, together with all interest and other income accrued but unpaid on such funds as of such date and payable at a later time.
Escrow Income means all gains, interest and other earnings realized with respect to the Escrow Funds.
Escrow Income shall have the meaning as set forth in Section 2.5(c). "ESCROW RELEASE DATE"......................................shall have the meaning as set forth in Section 2.5(a)(i) "ESCROWEE" .............................................. shall have the meaning as set forth in Section 2.5(a)(i). "ESTIMATED CLOSING DATE BALANCE SHEET........................shall have the meaning as set forth in Section 2.2(ii) "ESTIMATED CLOSING DATE WORKING CAPITAL"........................................................................... ........................................................ shall have the meaning as set forth in Section 2.2(a)(i). "ESTOPPEL CERTIFICATES".........................................shall have the meaning as set forth in Section 9.5. "EXCHANGE ACT"...........................................shall have the meaning as set forth in Section 3.1(e)(iv). "FACILITIES"........................................shall have the meaning as set forth in the Introduction hereto. "FINAL DETERMINATION"...................................shall have the meaning as set forth in Section 12.5(a)(ii). "