General Contract Clauses: Escrow of Purchase Price to Satisfy Seller's Obligations | Practical Law
A Standard Clause that sets out the basic terms and conditions by which the contract parties agree to hold a portion of the contract consideration such as the purchase price with a third-party escrow agent to satisfy the seller's indemnification, warranty, or other contract obligations. This Standard Clause has integrated drafting notes with important explanations and drafting and negotiating tips.