17-217 17-217 . . . Indemnification Agreement providing that (i) in event of change in control, corporation shall establish Escrow Reserve of $2,000,000 as security for its obligations under Indemnification Agreement and (ii) in event of any liquidation, merger, consolidation or reorganization in which corporation is not surviving entity, or sale of all or substantially all of corporation's assets, corporation shall ensure that Indemnification Agreement is assumed by surviving entity or otherwise provide for satisfaction of its obligations thereunder
Idaho Indemnification Agreement establishing Escrow Reserve
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FAQ
The Indemnification Escrow Amount shall be held by the Escrow Agent in ance with the terms and conditions set forth herein and in the Escrow Agreement (the ?Indemnification Escrow Fund?). All costs and expenses of the Indemnification Escrow Fund shall be split equally by Seller and Purchaser.
Escrow agreements outline the terms and conditions of large transactions. The transaction is mediated by an independent escrow agent, who holds all funds and documents until both sides have fulfilled their promises.
Escrow agreements provide security by delegating an asset to an escrow agent for safekeeping until each party meets his or her contractual obligations.
An escrow agreement is a legal document outlining terms and conditions between parties as well as the responsibility of each. Agreements usually involve an independent third party called an escrow agent, who holds an asset until the contract's conditions are met.
A Standard Clause that sets out the basic terms and conditions by which the contract parties agree to hold a portion of the contract consideration such as the purchase price with a third-party escrow agent to satisfy the seller's indemnification, warranty, or other contract obligations.
