Purchase Price Escrow Bank definition

Purchase Price Escrow Bank means a reputable bank located in the United Kingdom with an investment grade credit rating of at least BBB- with Standard & Poor’s or Baa3 with Moody’s, the identity of which is notified by the Purchaser to the Seller in accordance with Clause 4.1.1;

Purchase Price Escrow Bank means a reputable bank located in the United Kingdom with an investment grade credit rating of at least BBB- with Standard & Poor’s or Baa3 with Xxxxx’x, the identity of which is notified by the Purchaser to the Seller in accordance with Clause 4.1.1;

Purchase Price Escrow Bank means a reputable bank located in the United Kingdom with an investment grade credit rating of at least BBB- with Standard & Poor’s or Baa3 with Xxxxx’x, the identity of which is notified by the Purchaser to the Seller in accordance with Clause 4.1.1; “Purchase Price Escrow Period” has the meaning given to it in Clause 4.6; “Purchaser’s Relief” has the meaning given to it in the Tax Deed; “Purchaser’s Solicitors” means Xxxxxx Xxxxxx & Xxxxxxxx, LLP of 00 Xxxxxx Xxxxxx, London, EC2A 2HB, United Kingdom; “Purchaser’s Warranties” means the warranties set out in Schedule 3 (Purchaser’s Warranties); “Receivable” means the £13,215,000 receivable owed by the Direct Subsidiary to the Guarantor as at the Locked Box Date; “Receivable Payment Amount” means the amount in sterling required to pay the Receivable in full to the Guarantor on the Completion Date; “Related Persons” means, with respect to the Seller:

Examples of Purchase Price Escrow Bank in a sentence

• The Purchase Price Escrow Bank shall not release any of the Purchase Price Escrow Amount except as provided in this Clause 4 and the Purchase Price Escrow Agreement.

• Payment to such account shall constitute a full discharge by the Purchase Price Escrow Bank to the payee in respect of the relevant payment obligation.

• If the Conditions are fulfilled prior to the expiry of the Purchase Price Escrow Period, then the Seller and the Purchaser shall, as soon as practicable, jointly notify the Purchase Price Escrow Bank of the fulfilment of the Conditions and the proposed Completion Date.

• The Purchaser and the Seller shall provide an executed version of the release notice, signed by both Parties, to the Purchase Price Escrow Bank on the Completion Date (or at such other time as the Parties agree) to enable the payments set out in Clause 4.8 to be made out of the Purchase Price Escrow Account on the Completion Date.

• TerraForm Power entering into an Avoidance Action Settlement (as defined in Schedule 8), the Purchaser shall, within 5 Business Days, pay the Purchase Price Escrow Amount into the Purchase Price Escrow Account and irrevocably release it to the order of the Purchase Price Escrow Bank subject to the provisions of this Clause 4.

• The Purchase Price Escrow Bank shall hold the Purchase Price Escrow Amount as stakeholder on the terms of the Purchase Price Escrow Agreement in the joint names of the 13 Purchaser and the Seller.