Upon Escrow Agent s receipt of funds into its attorney trustee account, it shall notify the Company, or the Company's designated attorney or agent, of the amount of funds it has received into its account.

Upon Escrow Agent s receipt of funds from Secured Party into the attorney escrow account the Escrow Agent shall notify Pledgor, of the amount received. Pledgor, Borrower and Secured Party, prior to or upon receipt of said notice from the Escrow Agent, shall deliver to the Escrow Agent the following: (a) original stock certificate(s) representing the Shares, with original stock powers signed with the medallion guarantee, in an amount equal to 4,000,000 shares (b) the original signed Debenture(s); (c) the original signed Security Agreement whereby Pledgor is pledging said Shares as security for the loan; (d) the original signed opinion letter from Borrower's counsel acceptable to Secured Party concerning this transaction; (e) copy of an unsigned opinion letter from Borrower's counsel that would be sent to the transfer agent to remove the legend from the Shares in the event of a default under the Debentures or Security Agreement; (f) copies of representation letters from Secured Party, Pledgor and Borrower; (g) copy of this Escrow Agreement fully executed by all Parties; and (h) copies of signed documentation for an equity line of credit financing in an amount of not less that $3,000,000; (a) through (h) collectively being referred to as the "Escrow Securities and Documents".

Examples of Upon Escrow Agent in a sentence

Upon Escrow Agent taking such described action, Escrow Agent shall be released of and from all liability under this Agreement as escrow agent.
Upon Escrow Agent making such deposit, Escrow Agent shall be discharged and released of its duties and obligations hereunder.
Upon Escrow Agent receiving the notice of exercise, written consents and payment, Escrow Agent shall promptly deliver the Note to the Company and shall remit the Purchase Price to Holder.
This also makes it hard to document the processes, which is one of the foundations in the standardization process (Ungan, 2006a).Madsen (2011) mentions that some units, such as accounting units, are fairly standardized since they are obliged to operate from rules and recommendations that are the same for all businesses.

More Definitions of Upon Escrow Agent

Upon Escrow Agent s receipt into its attorney trustee account of the Purchase Price from each Investor for the Securities to be purchased on the Closing Date pursuant to the terms and conditions set forth in the Purchase Agreement, it shall notify the Company, of the amount of funds it has received into its account.

Upon Escrow Agent s receipt of the Shares the Escrow Agent shall immediately notify Dutchess and the Company.

Upon Escrow Agent s receipt of either joint certification by Midland and Intek certifying as to the Full Termination of this Escrow Agreement; or a Certified Court Order certifying as to the Full Termination of this Escrow Agreement and directing the Escrow Agent to disburse the Escrow Fund accordingly, accompanied by a legal opinion of counsel for the presenting party, satisfactory to the Escrow Agent, to the effect that such court order is final and non-appealable, the Escrow Agent will release all of the Escrow Fund to Intek and the Escrow Agent shall promptly thereafter deliver to Intek a certificate or certificates evidencing all such shares of Common Stock.