Examples of Escrow Outside Date in a sentence
This Agreement may be terminated by any Party prior to the release from escrow of such Party’s Countersignature if the Effective Date shall not have occurred on or before February 16, 2017 (the “Escrow Outside Date”); provided, however, that any such Party may, in its sole discretion and upon prior written notice to the other Parties, elect to extend the Escrow Outside Date for up to an additional 30 days.
Other than as permitted under the Escrow Agreement, the Issuer will only be entitled to direct the Escrow Agent to release the Escrow Property (in which case the Escrow Property will be paid to or as directed by the Issuer) upon delivery to the Escrow Agent and the Trustee, on or prior to the Escrow Outside Date, of an Escrow Release Request, certifying that the Escrow Release Conditions have been satisfied.
If the Escrow Conditions are satisfied on or prior to the Escrow Outside Date and the Escrow Agent receives the written instructions described in the Escrow Agreement and certifying that the Release Conditions have been met, the Escrow Agent shall release the Escrowed Funds in accordance with the Escrow Agreement (such release, the “Escrow Release”; the date of the Escrow Release, the “Escrow Release Date”).
Upon the satisfaction of the Escrow Release Conditions on or prior to the Escrow Outside Date as provided in the Escrow and Security Agreement, the Escrow Property will be released in accordance with the terms of the Escrow and Security Agreement.