Breach and Remedy. In the event of a breach of this Escrow Agreement by the Escrow Agent, such breach shall be corrected within seventy-two (72) hours of notice of occurrence. Notice is considered given when sent to the Escrow Agent email address as set out below. In the event the breach is not corrected within seventy-two (72) hours, any and all money and documents deposited with the Escrow Agent shall be entrusted to a replacement escrow agent to be named by the Developer. The initial Escrow Agent will be required to repay any unauthorized deficiencies and penalties in the Escrow Account.
Appears in 4 contracts
Samples: Escrow Agreement, Escrow Agreement, Escrow Agreement
