BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Escrow Agreement shall be binding on the heirs, executors and assigns, creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the Parties hereto. If, for any reason, the Escrow Agent named herein is unable or unwilling to continue to act, then the Company, at its sole discretion, may substitute another escrow agent.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Agreement shall be binding on the heirs, executors and assigns, creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the parties hereto. If, for any reason, the Escrow Agent named herein should be unable or unwilling to continue as such Escrow Agent, then the parties hereto may substitute, by mutual written agreement, another person to serve as Escrow Agent.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Agreement shall be binding on the heirs,, executors and assign, creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the parties hereto. If, for any reason, the Escrow Agent named herein should be unable or unwilling to continue as such Escrow Agent, then the Company may substitute, with the consent of all of the subscribers hereto for whom the Escrow Agent is at that time holding funds, another person to serve as Escrow Agent. Any apportionment of the fees provided for in Section 8 will be subject to agreement of the parties.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Agreement shall be binding on the assigns, creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the parties hereto. If, for any reason, the Escrow Agent named herein should be unable or unwilling to continue as such Escrow Agent, then the Issuer may substitute another escrow agent. (Page 76 of 81 Pages)
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Escrow Agreement shall be binding on the creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the parties hereto. If, for any reason, the Escrow Agent named herein should be unable or unwilling to continue to act as the Escrow Agent hereunder, then the Purchaser and the Seller may substitute another escrow agent as the Escrow Agent hereunder. Any apportionment of the fees provided for in Section 5 will be subject to agreement of the parties.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Escrow Agreement shall be binding on the successors or assigns of the parties hereto. If the Escrow Agent named herein shall be unable or unwilling to continue to serve as Escrow Agent, for any reason whatsoever, then Seller and Buyer may jointly select a successor Escrow Agent. In the event that Seller and Buyer are unable to agree on a successor Escrow Agent, the then serving Escrow Agent shall appoint his successor.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Agreement shall be binding on the heirs, executors and assigns, creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the parties hereto. If for any reason the Escrow Agent herein, should be unable or unwilling to continue as such Escrow Agent, the other parties to this Agreement may substitute another person to serve as Escrow Agent. No party may assign its rights or obligations hereunder without the consent in writing of the other parties hereto.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Agreement shall be binding on the heirs, executors and assigns, creditors, transferees, or successors in interest of the parties hereto, regardless of whether such interest is obtained by operation of law or otherwise, including without limitation by consolidation, transfer, assignment or merger. Any corporation into which the Escrow Agent may merge, sell, or transfer its escrow business shall automatically be and become successor Escrow Agent hereunder, vested with all powers as was its predecessor without the execution or filing of any instruments, or any further act, deed, or conveyance on the part of the parties hereto. If, for any reason, the Escrow Agent named herein should be unable or unwilling to continue to serve as such Escrow Agent, the Escrow Agent shall give Purchaser and Seller twenty (20) days prior written notice thereof. Upon the effective date of such resignation, the Escrow Agent shall have no further duties or obligations hereunder. Purchaser and Seller shall within that twenty (20) days appoint another escrow agent by a writing signed by Purchaser and Seller, a copy of which shall be delivered to the withdrawing Escrow Agent. If the Escrow Agent is not notified within twenty (20) days of a successor Escrow Agent then the Escrow Agent shall be entitled to transfer all of the Escrowed Funds to a court of competent jurisdiction with a request to have a successor appointed. The Escrow Agent shall promptly thereafter execute all documents necessary to transfer the Escrowed Funds to the substitute escrow agent.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Escrow Agreement shall be binding on the successors or assigns of the parties hereto. If, for any reason, Escrow Agent named herein should be unable or unwilling to continue as such Escrow Agent, then the other parties to this Escrow Agreement may substitute another person to serve as Escrow Agent. The Escrow Agent may resign from such capacity at any time for any reason or for no reason by written notice to the other parties hereto.
BINDING AGREEMENT AND SUBSTITUTION OF ESCROW AGENT. The terms and conditions of this Escrow Agreement shall be binding on the heirs, executors and assigns, creditors or transferees, or successors in interest, whether by operation of law or otherwise, of the Parties hereto. If, for any reason, the Escrow Agent named herein is unable or unwilling to continue to act, then the Company, at its sole discretion, may substitute another escrow agent. [The rest of this page left blank intentionally] The Company represents and agrees that it has not made, nor will it make in the future, any representation that states or implies that the Escrow Agent has endorsed, recommended or guaranteed the purchase, value, or repayment of the Securities offered for sale by the Company. The Company further agrees that it will insert in any prospectus, offering circular, advertisement, subscription agreement or other document made available to prospective purchasers of the Securities, the following statement in bold face type: "First Midwest Bank is acting only as an escrow agent in connection with the Offering described herein, and has not endorsed, recommended or guaranteed the purchase or value of any of the units subscribed," and will furnish to the Escrow Agent a copy of each such prospectus, offering circular, advertisement, subscription agreement or other document at least 5 business days prior to its distribution to prospective Subscribers. THE UNDERSIGNED ACKNOWLEDGE THAT FIRST MIDWEST BANK IS ACTING ONLY AS AN ESCROW AGENT IN CONNECTION WITH THE OFFERING OF THE SECURITIES DESCRIBED HEREIN, AND HAS NOT ENDORSED, RECOMMENDED OR GUARANTEED THE PURCHASE OR VALUE OF SUCH SECURITIES. [The rest of this page left blank intentionally] The Parties have executed this Agreement as of the last date set forth below. ILLINOIS RIVER ENERGY, LLC: FIRST MIDWEST BANK: By: /s/ Xxxxx Xxxxxxx By: /s/ Xxxxxx Xxxxxxxx --------------------------- ---------------------------- Print Name: Xxxxx Xxxxxxx Print Name: Xxxxxx Xxxxxxxx -------------------- -------------------- Date: 9-11-02 Date: 9-17-02 -------------------------- -------------------------- U.S. BANCORP XXXXX XXXXXXX INC.: By: /s/ Xxxx X. Xxxxxx --------------------------- Print Name: Xxxx X. Xxxxxx ------------------- Date: 9-11-02 -------------- SCHEDULE I FEES AND CHARGES No fees will be charged by First Midwest for ordinary escrow services. EXHIBIT A The undersigned certifies that he, she or it is duly authorized to execute and deliver this Escrow Notice on behalf of Illinois River Ene...
