North Carolina Exhibit to Operating Agreement Escrow Agreement

State:
Multi-State
Control #:
US-OG-754
Format:
Word; 
Rich Text
Instant download

Description

This operating agreement exhibit is used to evidence the parties agreement of an escrow account for the AFE cost for the drilling of a Well.
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FAQ

The escrow agreement is a contract entered by two or more parties under which an escrow agent is appointed to hold in escrow certain assets, documents, and/or money deposited by such parties until a contractual condition is fulfilled. escrow agreement | Wex | US Law | LII / Legal Information Institute cornell.edu ? wex ? escrow_agreement cornell.edu ? wex ? escrow_agreement

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.

North Carolina does not require an operating agreement in order to form an LLC, but executing one is highly advisable. Forming an LLC in North Carolina | Digital Media Law Project dmlp.org ? legal-guide ? forming-llc-north-c... dmlp.org ? legal-guide ? forming-llc-north-c...

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North Carolina Exhibit to Operating Agreement Escrow Agreement