Compliance with Court Orders. In the event that any of the Escrow Account or Funds shall be attached, garnished, or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment, or decree shall be made or entered by any court order affecting any of the Escrow Account or Funds, the Escrow Agent shall provide immediate notice thereof to the FDC and the Developer and an opportunity for the FDC and the Developer to intervene or defend against the order or decree, and the Escrow Agent is hereby expressly authorized to obey and comply with all final, non-appealable writs, orders, or decrees so entered or issued, that it is advised by legal counsel of its own choosing are binding upon it, and in the event that the Escrow Agent obeys or complies with any such final, non- appealable writ, order or decree, Escrow Agent shall not be liable to the FDC or the Developer or to any other person, entity, firm or corporation, by reason of such compliance notwithstanding such writ, order, or decree be subsequently reversed, modified, annulled, set aside or vacated.
Appears in 2 contracts
Samples: Escrow Agreement, Escrow Agreement
Compliance with Court Orders. In the event that any of the Escrow Account or Funds shall be attached, garnished, or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment, or decree shall be made or entered by any court order affecting any of the Escrow Account or Funds, the Escrow Agent shall provide immediate notice thereof to the FDC RDC, FDC, and the Developer and an opportunity for the FDC RDC, FDC, and the Developer to intervene or defend against the order or decree, and the Escrow Agent is hereby expressly authorized to obey and comply with all final, non-appealable writs, orders, or decrees so entered or issued, that it is advised by legal counsel of its own choosing are binding upon it, and in the event that the Escrow Agent obeys or complies with any such final, non- non-appealable writ, order or decree, Escrow Agent shall not be liable to the RDC, FDC,FDC or the Developer or to any other person, entity, firm or corporation, by reason of such compliance notwithstanding such writ, order, or decree be subsequently reversed, modified, annulled, set aside or vacated.
Appears in 2 contracts
Samples: Escrow Agreement, Escrow Agreement
Compliance with Court Orders. In the event that If any of the Escrow Account or Funds property subject to this Agreement shall be at any time attached, garnished, garnished or levied upon under any court order or in case the payment, assignment, transfer, conveyance or delivery of any such property shall be stayed or enjoined by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or in case any order, judgmentwrit, judgment or decree shall be made or entered by any court order affecting such property or any part thereof, then in any of the Escrow Account or Funds, the Escrow Agent shall provide immediate notice thereof to the FDC and the Developer and an opportunity for the FDC and the Developer to intervene or defend against the order or decree, and such events the Escrow Agent is hereby expressly authorized to obey rely upon and comply with all finalany such order, non-appealable writswrit, ordersjudgment or decree in any manner it deems appropriate; and if the Escrow Agent complies with any such order, writ, judgment or decrees so entered or issued, decree that it the Escrow Agent is advised by legal counsel of its own choosing are binding upon it(including internal counsel) is binding, and in the event that the Escrow Agent obeys or complies with any such final, non- appealable writ, order or decree, Escrow Agent shall not be liable to any of the FDC or the Developer parties hereto or to any other person, entity, firm or corporation, corporation by reason of such compliance notwithstanding even though such order, writ, order, judgment or decree may be subsequently reversed, modified, annulled, set aside or vacated. The Escrow Agent shall promptly forward to Parent and the Seller Representative by one of the methods described in Section 11 of this Agreement copies of all legal documents served on or otherwise received by the Escrow Agent relating to any of the proceedings described in this Section 5.
Appears in 1 contract
Compliance with Court Orders. In the event that any of the Escrow Account or Funds shall be attached, garnished, or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment, or decree shall be made or entered by any court order affecting any of the Escrow Account or Funds, the Escrow Agent shall provide immediate notice thereof to the FDC RDC, FDC, and the Developer and an opportunity for the FDC RDC, FDC, and the Developer to intervene or defend against the order or decree, and the Escrow Agent is hereby expressly authorized to obey and comply with all final, non-appealable writs, orders, or decrees so entered or issued, that it is advised by legal counsel of its own choosing are binding upon it, and in the event that the Escrow Agent obeys or complies with any such final, non- non-appealable writ, order or decree, Escrow Agent shall not be liable to the FDC or the Developer or to any other person, entity, firm or corporation, by reason of such compliance notwithstanding such writ, order, or decree be subsequently reversed, modified, annulled, set aside or vacated.
Appears in 1 contract
Samples: Escrow Agreement
Compliance with Court Orders. In the event that If any of the Escrow Account or Funds property subject to this Agreement shall be at any time attached, garnished, garnished or levied upon under any court order or in case the payment, assignment, transfer, conveyance or delivery of any such property shall be stayed or enjoined by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or in case any order, judgmentwrit, judgment or decree shall be made or entered by any court order affecting such property or any part thereof, then in any of the Escrow Account or Funds, the Escrow Agent shall provide immediate notice thereof to the FDC and the Developer and an opportunity for the FDC and the Developer to intervene or defend against the order or decree, and such events the Escrow Agent is hereby expressly authorized authorized, in its sole discretion, to obey rely upon and comply with all finalany such order, non-appealable writswrit, orders, judgment or decrees so entered or issued, that it decree which the Escrow Agent is advised by legal counsel of its own choosing are binding upon it, (including internal counsel) is binding; and in the event that if the Escrow Agent obeys or complies with any such finalorder, non- appealable writ, order judgment or decree, decree the Escrow Agent shall not be liable to any of the FDC or the Developer parties hereto or to any other person, entity, firm or corporation, corporation by reason of such compliance notwithstanding even though such order, writ, order, judgment or decree may be subsequently reversed, modified, annulled, set aside or vacated. The Escrow Agent shall promptly forward to IDEX and Sellers' Representative by one of the methods described in Section 10 copies of all legal documents served on or otherwise received by the Escrow Agent relating to any of the proceedings described in this Section 5.
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Compliance with Court Orders. In the event that any of the Adjustment Escrow Account or Funds shall be attached, garnished, garnished or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment, judgment or decree shall be made or entered by any court order affecting any of the Escrow Account or Fundsproperty deposited under this Agreement, the Escrow Agent shall provide immediate notice thereof to the FDC and the Developer and an opportunity for the FDC and the Developer to intervene or defend against the order or decree, and the Escrow Agent is hereby expressly authorized authorized, in its sole discretion, to obey and comply with all final, non-appealable writs, orders, orders or decrees so entered or issued, that which it is advised by legal counsel of its own choosing are is binding upon it, and in whether with or without jurisdiction; provided, however, the Escrow Agent shall immediately notify each of the Parties, to the extent legally permissible, of any such writ, order or decree as well as the course of action the Escrow Agent intends to take upon the advice of its legal counsel. In the event that the Escrow Agent obeys or complies with any such final, non- appealable writ, order or decree, Escrow Agent decree it shall not be liable to any of the FDC or the Developer Parties or to any other person, entity, firm or corporationPerson, by reason of such compliance notwithstanding such writ, order, order or decree be subsequently reversed, modified, annulled, set aside or vacated.
Appears in 1 contract
Samples: Asset Purchase Agreement
Compliance with Court Orders. In the event that any of the Escrow Account or Funds shall be attached, garnished, or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment, or decree shall be made or entered by any court order affecting any of the Escrow Account or Funds, the Escrow Agent shall provide immediate notice thereof to the FDC RDC, FDC, and the Developer and an opportunity for the FDC RDC, FDC, and the Developer to intervene or defend against the order or decree, and the Escrow Agent is hereby expressly authorized to obey and comply with all final, non-appealable writs, orders, or decrees so entered or issued, that it is advised by legal counsel of its own choosing are binding upon it, and in the event that the Escrow Agent obeys or complies with any such final, non- non-appealable writ, order or decree, Escrow Agent shall not be liable to the FDC RDC, FDC, or the Developer or to any other person, entity, firm or corporation, by reason of such compliance notwithstanding such writ, order, or decree be subsequently reversed, modified, annulled, set aside or vacated.
Appears in 1 contract
Samples: Economic Development Agreement