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.

Related to Final Escrow Account

  • 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.

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

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • 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 2.1.

  • 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 $3,000,000.

  • 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, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • 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.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

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

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • 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 means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

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

  • Expense Account The account established and maintained pursuant to Section 3.25.