Nebraska Indemnification Agreement establishing Escrow Reserve

State:
Multi-State
Control #:
US-CC-17-217
Format:
Word; 
Rich Text
Instant download

Description

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
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  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve
  • Preview Indemnification Agreement establishing Escrow Reserve

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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.

In an escrow agreement, one party?usually a depositor?deposits funds or an asset with the escrow agent until the time that the contract is fulfilled. Once the contractual conditions are met, the escrow agent will deliver the funds or other assets to the beneficiary.

An indemnification clause is a contractual provision pursuant to which one party (the ?indemnifying party?) agrees to make another party (the ?indemnified party?) financially whole if the indemnified party suffers economic damages or losses due to specific events agreed upon by the parties.

An escrow agreement is a contract that outlines the terms and conditions between parties involved, and the responsibility of each. Escrow agreements generally involve an independent third party, called an escrow agent, who holds an asset of value until the specified conditions of the contract are met.

The Escrow Process for a Buyer has many steps and typically lasts 30-45 days. The escrow steps outlined below are a general overview on a customary experience for a home Buyer in the state of California.

An escrow funds release certificate is a certification of the amount of the escrow funds (all or part) to be released from those funds placed into escrow with an escrow agent pursuant to an escrow holdback agreement. Escrow funds are only disbursed to the applicable party when it satisfies its outstanding obligations.

The escrow company acts as a neutral third party to collect the required funds and documents involved in the closing process, including the initial earnest money check, the loan documents, and the signed deed.

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Nebraska Indemnification Agreement establishing Escrow Reserve