District of Columbia Employee Shareholder Escrow Agreement

State:
Multi-State
Control #:
US-EG-9467
Format:
Word; 
Rich Text
Instant download

Description

Employee/Shareholder Escrow Agreement between Daleen Technologies, Inc., Daleen-Canada Corp., Inlogic Software, Inc. Shareholders, Mohammed Aamir, and Montreal Trust Company of Canada wherein employees/shareholders have a portion of the exchangeable
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  • Preview Employee Shareholder Escrow Agreement
  • Preview Employee Shareholder Escrow Agreement
  • Preview Employee Shareholder Escrow Agreement
  • Preview Employee Shareholder Escrow Agreement
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FAQ

(iii) A tripartite escrow agreement. The prime contractor establishes an escrow account in a federally insured financial institution and enters into a tripartite escrow agreement with the financial institution, as escrow agent, and all of the suppliers of labor and material.

Hear this out loud PauseAn escrow agreement refers to a contract that outlines the terms and conditions of a transaction for something of value ? such as a bond, deed, or asset ? which is held by a third party until all conditions have been met.

Most escrow agreements are put into place when one party wants to make sure the other party meets certain conditions or obligations before it moves forward with a deal. For instance, a seller may set up an escrow agreement to ensure a potential homebuyer can secure financing before the sale goes through.

Hear this out loud PauseAn 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.

Hear this out loud PauseA 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.

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.

Hear this out loud PauseAt its most basic definition, a software escrow agreement is a contract between a software supplier and their client. It is made so that the client is guaranteed access to the software source code under some specific conditions, including bankruptcy or insolvency of the supplier and software maintenance issues.

Key Takeaways Escrow refers to a neutral third party holding assets or funds before they are transferred from one party in a transaction to another. The third party holds the funds until both buyer and seller have fulfilled their contractual requirements.

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District of Columbia Employee Shareholder Escrow Agreement