Escrow

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Related to Escrow Agreement: Escrow account

Escrow

Property or money held by a third party until the agreed upon obligations of a contract are met.

Escrow

A certificate stating that an asset is being held by a third party on behalf of two parties to a transaction until certain conditions are filled. An escrow agreement is issued by the bank or other institution holding the asset in escrow and is useful to prove to one party or the other that the escrow has in fact taken place. See also: Escrow agent.

escrow

The holding of assets (that is, securities) by a third party.

Escrow.

When someone else holds assets of yours until the terms of a contract or an agreement are fulfilled, your assets are said to be held in escrow. The assets could be money, securities, real estate, or a deed.

The person or organization that holds the assets is the escrow agent, and the account in which they are held is an escrow account.

For example, if you make a down payment on a home, the money is held in escrow until the sale is completed or the deal falls through.

Amounts you prepay to cover property taxes and insurance premiums as part of your regular mortgage payment are also held in escrow until those bills come due and are paid. In that case, you may earn interest on the amount in the escrow account.

escrow

The process in which money and/or documents are held in trust by a disinterested third party who will consummate the instructions of the parties as expressed in their contracts.The third party is called the escrow agent.The escrow agreement usually contains a clause providing that if the parties disagree about something and are unable to resolve their differences, the escrow company will pay all money on hand into court in an action called an interpleader,name the disputing parties as defendants,disclaim any interest of its own in the property except for reimbursement for costs and expenses of bringing the interpleader action, and then let the parties battle it out in court. This effectively takes the escrow company out of the middle of any disputes and avoids liability on its part.

References in periodicals archive ?
It cited Murray and clarified its position on escrow agreements and the installment method, stating that, for an escrow arrangement to impose a substantial restriction, it must serve a bona fide purpose of the purchaser (i.
This ninety day extension does not relieve WWE of its obligation to remit the remaining balance due under the Escrow Agreement by December 31, 2008.
The failure of WWE to make the entire Release Payment within the Release Period or within the Extended Release Period should it be extended, shall constitute a breach of the Escrow Agreement, the Canadian license agreement and the US License.
Accordingly, the Company is hereby amending the Statement to incorporate the additional items herein, including disclosure in respect of the Amendment to the Fiat Sale Agreement and Amendment to the Escrow Agreement, and all references to the Fiat Agreement and Escrow Agreement in the Statement shall be deemed to refer to such Agreements, as amended thereby or as otherwise contemplated by the Statement.
The purpose of the escrow agreement is to demonstrate to the market the continuing commitment of these shareholders, a significant portion of whom are actively involved in the business of Assante.
The terms of these warrants provided for exercise only if the warrants subject to the Escrow Agreement were released and exercised.
The escrow agreements ensure that each escrow deposit fund will be used solely for payments to holders of enumerated refunded bonds.
No substitution of securities or reinvestment of cash is authorized under the escrow agreement.
0 million escrow agreement pursuant to its November 1997 acquisition of CGI Systems, Inc.
No substitutions of these investment securities are permitted pursuant to the terms of the escrow agreement.
In each escrow agreement, the city has reserved the right to redeem in advance of maturity refunded bonds in addition to those currently scheduled for early redemption.
clause in the escrow agreement by refusing to make a deposit into the