Extract to table
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Extract to table / escrow-agreement.docx
escrow-agreement.docx
Parties
MERIDIAN CONSUMER BRANDS LLC
Brindoval Home Goods Inc
M. Albright
Harkness LLP
Pruitt LLP
Federal Deposit Insurance Corp
Severin Partners LLC
Halcyon Partners LLC
Dates
May 15, 2023
May 30, 2023
Amounts
$1,350,000.00
Obligations
" Patricia Dolan, Escrow Officer, Dralvecen National Bank, shall serve as the designated Escrow Officer in connection with this Agreement
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the Parties, the Parties hereby agree as follows: ARTICLE 1 — DEFINITIONS As used in this Agreement, the following terms shall have the meanings set forth below
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Coexistence Agreement
4 "Deposit Deadline" means the date that is ten (10) business days following the date of execution of this Agreement by all Parties, which the Parties acknowledge shall be no later than May 30, 2023
MCB and Brindoval hereby jointly appoint Dralvecen National Bank to serve as Escrow Agent under this Agreement, and Dralvecen National Bank hereby accepts such appointment and agrees to act as Escrow Agent, in each case upon and subject to the terms and conditions set forth herein
The Escrow Agent shall hold, invest, and disburse the Escrow Funds solely in accordance with the provisions of this Agreement and shall have no duties or obligations other than those expressly set forth herein