What is an escrow agreement?

An escrow agreement in a leveraged finance context is a contract setting out the terms and conditions by which an independent third party (an "Escrow Agent") holds and eventually distributes funds to an intended recipient once certain prescribed conditions have been fulfilled.

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Escrow Agreement - Long Form

King Washington Escrow Agreement - Long Form

Name: King Washington Escrow Agreement - Long Form
Brand: US Legal Forms
Rating: 4.73 (398 reviews)

Category:

Real Estate - Escrow

State:

Multi-State

County:

King

Control #:

US-00511

Format:

Instant download

Description

This escrow agreement is entered into by an agent, a purchaser, and a seller. Purchaser has agreed to purchase from seller certain assets as identified in the agreement, and a bank has agreed to make a loan to purchaser according to the terms of a loan agreement. The parties have also agreed that an escrow agent will receive, hold and distribute or disburse funds to be escrowed pursuant to the provisions of the escrow agreement.

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FAQ

A software escrow is a service that helps protect all parties involved in a software license by having a neutral 3rd party escrow agent hold source code, data, and documentation until a mutually-agreed-upon event occurs.

Source Code Escrow Verification services to ensure that the deposited source code can be built into a working application would typically be requested by the beneficiary. As such, the fees associated with these services would be paid for by the beneficiary.

A source code escrow agreement typically instructs the agent to release the source code to the licensee if and when a specified event occurs, such as the licensor becoming insolvent or defaulting on its maintenance obligations under the principal license agreement.

A thorough escrow agreement will list out the information that should be included in JWI or any instructions, such as the amount to be released, the party to whom the funds should be delivered, payment instructions and tax characterizations, or alternatively attach an instructions template to the escrow agreement.

It's used in real estate transactions to protect both the buyer and the seller throughout the home buying process. Throughout the term of the mortgage, an escrow account will hold funds for taxes and homeowner's insurance.

The word derives from the Old French word escroue, meaning a scrap of paper or a scroll of parchment; this indicated the deed that a third party held until a transaction was completed.

A legal arrangement in which an asset (such as cash or stock) is deposited into an escrow account under the trust of a third party (the escrow agent) until satisfaction of a contractual contingency or condition.

Source code escrow is a type of "middleman agreement" between software providers and customers to ensure that software applications and platforms are maintained regardless of any changes that may happen to the vendor. It involves the vendor sharing the source code with an escrow agent.

An escrow agreement in a leveraged finance context is a contract setting out the terms and conditions by which an independent third party (an "Escrow Agent") holds and eventually distributes funds to an intended recipient once certain prescribed conditions have been fulfilled.

More info

The escrow agreement template has been drafted to satisfy the repayment mechanism requirements for ACOs participating in the Shared Savings Program. A home equity line of credit (or "HELOC") is a popular form of home equity loan.Watch the NFL's Sunday Night Football, NASCAR, the NHL, Premier League and much more. Natwest Business Banking – Find all you need to know about business and start up accounts, cards, loans and more with Natwest. How can we help you today?

King Washington Escrow Agreement - Long Form

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