Acceptance and Undertaking of the Escrow Agent. The Escrow Agent hereby acknowledges receipt of the documents and instruments comprising the Escrow and covenants and agrees to hold all of the same in escrow, and subsequently to release and distribute, or return, as the case may be, the Escrow or any part thereof, only pursuant to and in strict accordance with all of the terms and conditions of this Agreement.
Appears in 2 contracts
Samples: Escrow Agreement (Phoenix Racing Inc), Escrow Agreement (Phoenix Racing Inc)
Acceptance and Undertaking of the Escrow Agent. The Escrow Agent Agent, as fiduciary to Agent, hereby acknowledges receipt of the documents and instruments comprising the Escrow and covenants and agrees to hold all of the same in escrow, funds deposited with it by the Agent (the “Escrow”) and subsequently to release and distribute, or return, as the case may be, the Escrow or any part thereof, only pursuant to and in strict accordance with all of the terms and conditions of this Escrow Agreement.
Appears in 2 contracts
Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc), Credit and Security Agreement (Manhattan Bridge Capital, Inc)
Acceptance and Undertaking of the Escrow Agent. The Escrow Agent hereby acknowledges receipt of the foregoing documents and instruments comprising the Escrow and covenants and agrees to hold all of the same in escrow, and subsequently to release and distribute, or return, as the case may be, the Escrow or any part thereof, only pursuant to and in strict accordance with all of the terms and conditions of this Agreement.
Appears in 1 contract
