Initial Escrow Account definition

Initial Escrow Account means a separate escrow account maintained by the New York branch of Citibank, N.A., into which the Settlement Amount shall be deposited by Xx. Xxxxx’x pursuant to the terms of ¶ 6 below, and which shall be governed by the Initial Escrow Agreement and invested pursuant to the terms of the Initial Escrow Agreement. The Initial Escrow Account shall be maintained solely by the Initial Escrow Agent pursuant to the terms of the Initial Escrow Agreement.
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Initial Escrow Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Initial Escrow Account Pledge Agreement.
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Initial Escrow Account means a separate escrow account maintained by the New York branch of Citibank, N.A., into which the Settlement Amount shall be deposited by the Settling Defendants pursuant to the terms of ¶ 6 below, and which shall be governed by the Initial Escrow Agreement and invested pursuant to the terms of the Initial Escrow Agreement. The Settlement Amount on deposit in the Initial Escrow Account and any earnings thereon shall remain the property of the Settling Defendants to the extent of each Settling Defendant’s funding, and each funding Settling Defendant shall be entitled to recover from the Settlement Amount and earnings thereon, Taxes, if any, payable on such earnings, any Transfer Taxes, Compliance Costs, and 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. Except as provided for in the preceding sentence, the Settlement Amount and earnings thereon cannot be used for any purpose other than to satisfy the Settling Defendants’ obligations under this Stipulation, unless and until the Settlement is terminated pursuant to the terms of this Stipulation. The Initial Escrow Account shall be maintained solely by the Initial Escrow Agent pursuant to the terms of the Initial Escrow Agreement. The signatories to the Initial Escrow Agreement, other than counsel for the Settling Defendants, the Escrow Agent and Lead Counsel, shall be responsible for ensuring that all Taxes and Transfer Taxes, if any, on the Settlement Amount while in the Initial Escrow Account are timely paid; provided, however, that any such Taxes and Transfer Taxes, shall be paid out of the Settlement Fund.
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Examples of Initial Escrow Account in a sentence

  • The disclosures in that model format may be combined with or included in the Initial Escrow Account Statement required in§ 1024.17(g).(b) Definitions.

  • The disclosures in that model format may be combined with or included in the Initial Escrow Account Statement required in§ 1024.17(g).

  • IEAD (Initial Escrow Account Disclosure) Initial URLA/1003 fully executed B CB 2.

  • At any time subsequent to the funding of the Initial Escrow Account and the preliminary approval of the Settlement by the Court, and subject to Xx. Xxxxx’x having obtained the approval of the RBI, without further order of the Court, the Initial Escrow Agent shall, upon request from Lead Counsel, pay up to $400,000 from the Initial Escrow Account to pay the Notice and Administration Expenses actually incurred.

  • The disclosures in that model format may be combined with orincluded in the Initial Escrow Account Statement required in § 1024.17(g).(b) Definitions.

  • Xxxxx’x shall, within five (5) business days of the execution of this Stipulation by Lead Counsel and Defendants’ Counsel, cause its authorized dealer to seek the necessary approval from the Reserve Bank of India (“RBI”) in respect of the deposit of the Settlement Amount into the Initial Escrow Account.

  • This includes a Special Information Booklet, a Good Faith Estimate, an Initial Servicing Disclosure, a Settlement Statement (the Form HUD– 1 or Form HUD 1–A), and when applicable an Initial Escrow Account Statement, an Annual Escrow Account Statement, an Escrow Account Disbursement Disclosure, an Affiliated Business Arrangement Disclosure, and a Servicing Transfer/Disclosure.

  • Initial Escrow Account Disclosure StatementThis is a one-year snapshot of the borrowers escrow account.

  • Thus, as revised, § 1024.9(c) instead provides that a request to the Bureau for approval of the certain changes shall be submitted in writing to the address indicated in the definition of Public Guidance Documents in § 1024.2.Section 1024.17 Escrow Accounts 17(h) Format for Initial Escrow Account Statement 17(h)(1)‌Although the Bureau did not propose to amend § 1024.17(h)(1), for the reasons set forth below, the Bureau is revising § 1024.17(h)(1).

  • In accordance with the terms of the Settlement Agreement, the Company deposited USD 125 Million (equivalent to Rs. 55570 Lakhs) into the Initial Escrow Account as of April 27, 2011.

Related to Initial 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.

  • 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.

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

  • 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.

  • 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 [*];

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

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

  • 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.

  • 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).

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Escrow Deposit has the meaning set forth in Section 2.1.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • 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.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Initial Reserve Account Deposit means $3,250,000.

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

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

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

  • 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.

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

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

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.