Texas Escrow and Security Agreement between On Site Media, Inc., Site-Based Media, Inc., and Citibank, N.A.

• Category: Corporations - Mergers and Acquisitions
• State: Multi-State
• Control #: US-CC-12-2322
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. Texas Escrow and Security Agreement is a legal contract that outlines the terms between On Site Media, Inc., Site-Based Media, Inc., and Citibank, N.A., pertaining to the handling and protection of funds or assets held in escrow. This agreement acts as a safeguard, setting forth specific conditions and obligations of the involved parties. Under this agreement, On Site Media, Inc. and Site-Based Media, Inc. entrust Citibank, N.A. to hold funds securely in an escrow account until predetermined conditions are met. The primary type of Texas Escrow and Security Agreement between these entities involves a financial agreement related to contract fulfillment. In this scenario, On Site Media, Inc. and Site-Based Media, Inc. may engage in a business transaction where the use of an escrow account is necessary, ensuring that both parties fulfill their obligations effectively. Key terms included in this agreement may consist of: 1. Deposit: On Site Media, Inc. and Site-Based Media, Inc. will deposit the agreed-upon funds into the escrow account held by Citibank, N.A. 2. Release Conditions: The agreement precisely outlines the conditions under which the funds are to be released from the escrow account. These conditions might include completion of certain project milestones, satisfactory product delivery, or adherence to specific contractual agreements. 3. Dispute Resolution: In the event of a disagreement between the involved parties, the Texas Escrow and Security Agreement will lay out the process for resolving disputes, which may involve mediation, arbitration, or litigation. 4. Termination: The agreement specifies the circumstances under which the escrow arrangement may be terminated, including completion of the contract, expiration of the agreed-upon period, or mutual agreement between On Site Media, Inc. and Site-Based Media, Inc. It is important to note that specific details and terminology within the Texas Escrow and Security Agreement may vary, depending on the exact nature of the transaction or the entities involved. In conclusion, the Texas Escrow and Security Agreement acts as a protective measure for On Site Media, Inc., Site-Based Media, Inc., and Citibank, N.A., ensuring secure handling and disbursement of funds or assets within the escrow account. This agreement serves as a crucial legal document, highlighting the responsibilities and expectations of each party involved.

Texas Escrow and Security Agreement is a legal contract that outlines the terms between On Site Media, Inc., Site-Based Media, Inc., and Citibank, N.A., pertaining to the handling and protection of funds or assets held in escrow. This agreement acts as a safeguard, setting forth specific conditions and obligations of the involved parties. Under this agreement, On Site Media, Inc. and Site-Based Media, Inc. entrust Citibank, N.A. to hold funds securely in an escrow account until predetermined conditions are met. The primary type of Texas Escrow and Security Agreement between these entities involves a financial agreement related to contract fulfillment. In this scenario, On Site Media, Inc. and Site-Based Media, Inc. may engage in a business transaction where the use of an escrow account is necessary, ensuring that both parties fulfill their obligations effectively. Key terms included in this agreement may consist of: 1. Deposit: On Site Media, Inc. and Site-Based Media, Inc. will deposit the agreed-upon funds into the escrow account held by Citibank, N.A. 2. Release Conditions: The agreement precisely outlines the conditions under which the funds are to be released from the escrow account. These conditions might include completion of certain project milestones, satisfactory product delivery, or adherence to specific contractual agreements. 3. Dispute Resolution: In the event of a disagreement between the involved parties, the Texas Escrow and Security Agreement will lay out the process for resolving disputes, which may involve mediation, arbitration, or litigation. 4. Termination: The agreement specifies the circumstances under which the escrow arrangement may be terminated, including completion of the contract, expiration of the agreed-upon period, or mutual agreement between On Site Media, Inc. and Site-Based Media, Inc. It is important to note that specific details and terminology within the Texas Escrow and Security Agreement may vary, depending on the exact nature of the transaction or the entities involved. In conclusion, the Texas Escrow and Security Agreement acts as a protective measure for On Site Media, Inc., Site-Based Media, Inc., and Citibank, N.A., ensuring secure handling and disbursement of funds or assets within the escrow account. This agreement serves as a crucial legal document, highlighting the responsibilities and expectations of each party involved.