Escrow agreement (shares) between mortgagor/mortgagee-COMM 29

Escrow agreement (shares) between mortgagor and mortgagee

Sample

"A. The Mortgagee is the Mortgagee of the Protected Documents in terms of a Share Mortgage entered into between the Mortgagor and the Mortgagee on ## .

B. In order to protect their interests, the parties have agreed that the Mortgagee must place the Protected Documents into the custody of a third party.

C. The Mortgagor has agreed to place the Protected Documents into the custody of the Escrow Agent, and the Escrow Agent has agreed to accept custody of the Protected Documents, on the terms set out below.

2. Deposit of Protected Documents

On signature of the agreement specified in Schedule 1, or at such time otherwise agreed between the Mortgagor and Mortgagee, the Mortgagor must deposit and the Escrow Agent must accept custody of............."