Settlement Escrow Account definition

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.

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.

Examples of Settlement Escrow Account in a sentence

• The Settlement Escrow shall initially be comprised of three subaccounts (the “Accounts”), to be used solely for such purposes as are set forth in Section I above: (1) the Settlement Escrow Account, (2) Lien Holdback Account, and (3) the Administration Account.

• All interest on or income realized by investment of the Escrowed Funds or any portion hereof shall be accumulated and added to the Escrowed Funds, and further provided that any such interest or investment income earned on the Settlement Escrow Account or the Lien Holdback Account pursuant to Section VII shall be transferred to the Administration Account on a monthly basis.

• COVIDIEN shall have a reversionary interest in the Settlement Escrow Account and Administration Account (and any other accounts that may be created pursuant to the Settlement Escrow Agreement except the Lien Holdback Fund) for any amounts which remain in such Accounts after all distributions have been paid.

• The Administrator shall take any action or cause the Settlement Escrow Account to take any action necessary to create and maintain its status as a qualified settlement fund, and the Administrator agrees not to take any action that will adversely affect the qualification of the Settlement Escrow Account as a qualified settlement fund.

• Any and all Taxes on the income of the Settlement Escrow Account shall be timely paid out of the Settlement Escrow Account.

More Definitions of Settlement Escrow Account

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 an interest-bearing escrow account selected by Co-Lead Class Counsel and Counsel for NIBCO, 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.

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 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 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 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 escrow account opened and operated by KredX with the Escrow Agent to manage the funds of all the sellers listed on the Platform pursuant to the Escrow Agreement.