Escrow Refund definition

Escrow Refund means the amount of any escrow monies paid by Borrower under the Purchase Agreements which is returned to, and received by, Borrower from Seller in accordance with the terms of the Purchase Agreements.
Sample 1

Examples of Escrow Refund in a sentence

  • For the avoidance of doubt, the Parties acknowledge that the portion of the Exxon Escrow Refund attributable to NNOGC will be paid directly by Exxon to NNOGC.

  • In the event of the Escrow Refund, the Agreement between the Company and the Trust Member will be deemed rescinded and of no force or effect.

  • The Company shall dissolve the Escrow Account and release the funds therein to the party entitled to said funds, according to this section, upon the earlier of the following, (i) if there is an Ecrow Release Event, all funds in the Escrow Account shall be due to the Company, immediately, or (ii) if there is an Escrow Refund Event, all funds in the Escrow Account shall be due to the Investor pari passu with all other investors, based on said investor’s Purchase Amount.

  • If after the Closing Buyer receives the Exxon Escrow Refund attributable to the Company as contemplated by the First Escrow Amendment, Buyer shall immediately notify Sellers of the receipt of the Exxon Escrow Refund and pay the full amount of the Exxon Escrow Refund received by Buyer to Sellers within five (5) Business Days of receipt of the Exxon Escrow Refund.

  • For and through the 2017 calendar year, before and after giving effect to the Exxon Escrow Refund, the Exxon Escrow Account is fully funded in accordance with (i) the Purchase and Sale Agreement and Assignment and Xxxx of Sale, each dated effective January 1, 2005, among Exxon (and its affiliates), the Company and NNOGC, and (ii) the Escrow Agreement, and as of the Execution Date and, as applicable, the Closing Date, no additional payments are due by the Company thereunder.

Related to Escrow Refund

  • Escrow Receipt Means the receipt substantially in the form annexed to the Escrow Agreement representing a fractional undivided interest in the funds held in escrow thereunder.

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Indemnity Escrow Amount means $3,000,000.

  • Escrow Release Date has the meaning set forth in Section 9.6.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Adjustment Escrow Funds means the amounts held in the Adjustment Escrow Account, including any dividends, interest, distributions and other income received in respect thereof, less any losses on investments thereof, less distributions thereof in accordance with this Agreement and the Escrow Agreement.

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Adjustment Escrow Amount means $1,000,000.

  • Escrow End Date has the meaning set forth in the Escrow Agreement.

  • Holdback Amount has the meaning set forth in Section 2.06(a).

  • Escrow Cash is defined in Section 4.1(a).

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C of the Plan.

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Payment Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the related Mortgaged Property, including amounts for deposit to any reserve account.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Tax Refund means a refund of Taxes previously paid and any overpayment interest within the meaning of Section 6611 of the Code or any similar provision under applicable Tax Law (whether paid by way of a refund or credited against any liability for related Taxes).

  • Purchase Price Adjustment Escrow Amount means $3,000,000.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.