Final Escrow Account definition

Final Escrow Account means the separate interest-bearing escrow account to be established at a banking institution designated by Lead Counsel (which may or may not be the same institution at which the Initial Escrow Account was maintained), into which the Settlement Fund Balance shall be transferred pursuant to ¶ 6(e) below. The Final Escrow Account shall be maintained solely by the Final Escrow Agent pursuant to the terms of the Final Escrow Agreement.
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Final Escrow Account means the separate interest-bearing escrow account to be established at a banking institution designated by Lead Counsel that is not a restricted entity under the Settling Defendants’ independence requirements (which may or may not be the same institution at which the Initial Escrow Account was maintained), into which the Settlement Amount plus net accrued interest on that amount (i.e., all income earned on the Settlement Amount less any Taxes paid or owing resulting from income earned on the Settlement Amount) from the day of deposit into the Initial Escrow Account until the transfer to the Final Escrow Account pursuant to ¶ 6 below, net of any Transfer Taxes, any banking transaction costs and banking fees related to the Initial Escrow Account and the investment of the Settlement Amount pursuant to the terms of the Initial Escrow Agreement, Compliance Costs, and any amounts already paid pursuant to ¶¶ 16 and/or 23 below, shall be transferred. The Final Escrow Account shall be maintained solely by the Final Escrow Agent pursuant to the terms of the Final Escrow Agreement.
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Examples of Final Escrow Account in a sentence

  • The Tax Reserve shall remain in the Final Escrow Account and shall not be paid or distributed out of the Final Escrow Account until the later of (a) twelve (12) months following an AAR ruling without a challenge or judicial review of the AAR ruling being sought by any Indian tax authority (including the Indian Department of Revenue) or otherwise, or (b) if such a challenge or judicial review of the AAR ruling is sought, until such judicial review or challenge is finally resolved.

  • All funds held in the Initial Escrow Account and the Final Escrow Account shall be deemed and considered to be in custodia legis of the Court and shall remain subject to the jurisdiction of the Court until such time as such funds shall be disbursed pursuant to the Stipulation and/or further order of the Court.

Related to Final Escrow Account

  • Indemnity Escrow Account has the meaning set forth in Section 2.3(c).

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

  • Adjustment Escrow Account has the meaning set forth in Section 2.4(a)(i).

  • Escrow Accounts means any escrow account in which Escrowed Proceeds are deposited and held.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

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

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

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

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Indemnity Escrow Amount means $5,000,000.

  • 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.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • 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 hereof.

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

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Indemnity Escrow Agreement has the meaning set forth in Section 1.5.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Expense Account The account established pursuant to Section 10.3(c).