Settlement Escrow Account definition

Settlement Escrow Account means an interest-bearing escrow account selected by Counsel for Plaintiffs and Counsel for Bow, which shall be treated at all times as a “Qualified Settlement Fund” for federal income tax purposes pursuant to Internal Revenue Code (“Code”) Section 468B and the Regulations issued thereto.

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Settlement Escrow Account means the interest-bearing account selected by the

Settlement Escrow Account means the escrow account established pursuant to the Memorandum of Understanding to hold the Settlement Amount together with interest thereon.

Examples of Settlement Escrow Account in a sentence

Any and all Taxes on the income of the Settlement Escrow Account shall be timely paid out of the Settlement Escrow Account.
Interest earned on monies in the Settlement Escrow Account shall accrue to the benefit of the Settlement Class and shall be available to pay Eligible Claimants; shall be credited toward the balance Bow is required to maintain in the Settlement Escrow Account; and shall revert to Bow in the event the settlement fund is not exhausted following the close of the Claim Period, and after all timely Claims have been determined and paid as set forth herein.
During the Claim Period, Bow shall make additional payments into the Settlement Escrow Account up to the total of the Class Settlement Fund (less any amounts credited to Bow for reasonable fees and costs of notice and administration advanced prior to the creation of the Class Settlement Fund) sufficient to maintain a balance in the Settlement Escrow Account throughout the entire Claim Period of at least One Million Dollars ($1,000,000.00).
The Settlement Administrator shall give Bow twenty-one (21) business days written notice (which notice shall also be given to Lead Class Counsel) of the need to make any such additional payment to maintain that balance in the Settlement Escrow Account.
Borrower shall have (i) established the Settlement Escrow Account with proceeds from the Tranche B-1 Term Loans in an aggregate principal amount of $35,000,000 and entered into the Settlement Account Escrow Agreement and (ii) the established Working Capital Escrow Account with proceeds from the Tranche B-2 Term Loans in an aggregate principal amount of $90,000,000 and entered into the Working Capital Account Escrow Agreement.

More Definitions of Settlement Escrow Account

Settlement Escrow Account means the Account managed by the Escrow Agent for the benefit of the Class Representatives and the Settlement Class until the Date of Finality.

Settlement Escrow Account means an Escrow Account maintained in accordance with the Settlement Account Escrow Agreement which shall have no amounts on deposit therein other than with respect to the proceeds of the Tranche B-1 Term Loans required to be deposited therein pursuant to Section 3.1(x) and which proceeds shall be available solely to fund a portion of the Custodial Trusts on the Exit Facility Conversion Date.

Settlement Escrow Account means the escrow account of Escrow Agent into which the Estimated Unsettled Municipal Bond Purchase Price shall be deposited by Buyer at Closing.

Settlement Escrow Account means the interest-bearing account established by the Settlement Escrow Agents (as defined below) pursuant to Court order and subject to Court oversight for the deposit of the Settlement Fund (as defined below).

Settlement Escrow Account means an escrow account in NOK established as a client account in the name of NT Services AS as escrow agent, with the Issuer being the beneficial owner of such account, which shall be pledged in favour of the Bond Trustee and the other creditors providing the requisite funds to refinance the Existing Debt (on a pro rata basis).

Settlement Escrow Account means an account maintained at City National Bank wherein the Settlement Fund shall be deposited and held in escrow under the control of Lead Counsel.

Settlement Escrow Account means the non-interest bearing bank account no. XXX, IBAN: XXX, SWIFT: XXX, účet advokátní úschovy, maintained by XXX for Kinstellar, s.r.o., advokátní kancelář;