An Escrow Agreement is an agreement that puts forth the conditions or describes the event that will occur upon a party’s fulfillment of that event. An escrow agent delivers funds, assets, shares etc., which are held in trust by the escrow agent to the party named as the beneficiary.
ESCROW AGREEMENT THIS ESCROW AGREEMENT made as of the ____ day of ___________, 20______. B E T W E E N: ________________________________ (hereinafter referred to as the “____________”) OF THE FIRST PART; AND: _________________________________ (hereinafter referred to as the “____________”) OF THE SECOND PART; AND: ___________________________________ (hereinafter referred to as the “Agent”) OF THE THIRD PART. WHEREAS the parties hereto entered into a _______________ Agreement dated the _____ day of __________, _________ for the _______________ (enter description of transaction) by the _______________ and the ________________ by the _________________ of ___________________(the “Agreement”); and AND WHEREAS the Agreement provides for security for certain obligations of the ______________ and the _______________ and the ____________ agreed that ________________ ($_______) Dollars be held in trust in an interest bearing Trust Account by the Agent (the “Trust Account”) and for funds to be paid out of the Trust Account as provided by the Agreement; AND WHEREAS the parties wish to provide for the terms of escrow applicable to the funds to be held in the Trust Account by the Agent. NOW THEREFORE THIS AGREEMENT WITNESSETH: 1. The ______________ and ________________ hereby appoint the Agent, and the Agent hereby agrees to act as escrow agent and trustee in accordance with the terms and conditions of this Escrow Agreement. 2. The Agent shall hold and deal with all m
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