Tax Escrow definition

Tax Escrow shall have the meaning set forth in Section 15.8(b).

Tax Escrow means US$ [***], available to satisfy indemnification amounts owed by the Sellers and Seller Principals to Buyer Indemnified Parties under Section 9.02(d) and 9.02(e) of this Agreement (claims relating to Taxes), including the Known Tax Obligations, subject to adjustment as provided in Section 2.06 hereof.

Tax Escrow has the meaning stated in Section 6.4.

Examples of Tax Escrow in a sentence

• The Ad Valorem Tax Escrow Agreement will be terminated in accordance with Florida law after control of the Association has been turned over to Owners other that DVD, unless terminated sooner in accordance with its terms.

• If the amount due for Taxes shall increase and Lender reasonably determines that amounts on deposit in the Tax Escrow Account will not be sufficient to pay Taxes due for an annual tax period, Lender shall notify Borrower of such determination and of the increase needed to the Monthly Tax Deposit.

• If amounts on deposit in the Tax Escrow Account collected for an annual tax period exceed the Taxes actually paid during such tax period, Lender shall, in its discretion, return the excess to Borrower or credit the excess against the payments Borrower is to make to the Tax Escrow Account for the next tax period.

• If amounts on deposit in the Tax Escrow Account collected for an annual tax period are insufficient to pay the Taxes actually due during such tax period, Lender shall notify Borrower of the deficiency and, within ten (10) days thereafter, Borrower shall deliver to Lender such deficiency amount.

• The Tax Escrow Payment account of Tenant shall be reconciled annually.

More Definitions of Tax Escrow

Tax Escrow. An account maintained by the Borrowers with the Collateral Agent (or its Affiliate) into which the Borrower shall deposit all payments on and proceeds of the Tax Notes and against which the Collateral Agent has, at all times, a first priority, perfected security interest.

Tax Escrow. Established by Borrowers with IBJW, into which deposits of the proceeds of the Tax Notes must be directed and from which the Borrowers shall NOT make any disbursements.

Tax Escrow has the meaning set forth in Section 12.2(g).

Tax Escrow has the meaning set forth in Section 2.2(c)(ii)(B). ----------

Tax Escrow shall have the meaning set forth in Section 11.6(a).

Tax Escrow as defined in Section 11.1(a).

Tax Escrow. The Obligor shall pay to the Bank all amounts necessary to pay for taxes, assessments, water and sewer charges, if any, assessed upon the property, unless the Bank notifies the Obligor, in writing, to the contrary, or unless the law requires otherwise. Said payments shall be made on the same day that the monthly payments of principal and interest are due pursuant to this Note. Each of said payments pursuant to this provision shall be one-twelfth (1/12) of the estimated yearly taxes, assessments, water and sewer charges, if any, assessed in connection with the mortgaged premises. ATTORNEYS' FEES: In the event that this Promissory Note and Security Agreement is placed in the hands of an attorney for the collection of any payment hereunder or for the enforcement of any of the terms, covenants and conditions thereof, the Obligor agrees to pay all costs of collection, including 'reasonable attorneys' fees incurred by the Bank, either with or without the institution of an action or proceeding, and in addition, all other costs, disbursements and allowances provided by law. All such costs so incurred shall be deemed to be secured by this Promissory Note and Security Agreement and collectable out of the mortgaged premises in any manner permitted by law or by this Obligation.