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).