Common use of Compliance with Court Orders Clause in Contracts

Compliance with Court Orders. In the event that any Escrowed Shares 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 the property deposited under this Agreement, the Escrow Agent shall promptly notify Xxxxx Xxxxxx, Spinco and the Voyager Stockholders’ Representative and, thereafter, is hereby expressly authorized, in its sole discretion, to obey and comply with all writs, orders or decrees so entered or issued, which it is advised by opinion of legal counsel of its own choosing is binding upon it, and in the event that the Escrow Agent reasonably obeys or complies with any such writ, order or decree it shall not be liable to any of the parties hereto 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 (Covetrus, Inc.), Escrow Agreement (HS Spinco, Inc.)

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Compliance with Court Orders. In the event that any Escrowed Shares escrow property shall be attached, garnished or levied upon by any an order of a court orderof competent jurisdiction, or the delivery thereof shall be stayed or enjoined by an order of a courtcourt of competent jurisdiction, or any order, judgment or decree shall be made or entered by any court order of competent jurisdiction affecting the property deposited under this Agreement, the Escrow Agent shall promptly notify Xxxxx Xxxxxx, Spinco and the Voyager Stockholders’ Representative and, thereafter, is hereby expressly authorized, in its sole discretion, to obey and comply with all writs, orders or decrees so entered or issued, which it is advised by opinion of legal counsel of its own choosing is binding upon it, whether with or without jurisdiction, and in the event that the Escrow Agent reasonably obeys or complies with any such writ, order or decree it shall not be liable to any of the parties hereto 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 (Discovery Communications, Inc.), Escrow Agreement (Discovery Communications, Inc.)

Compliance with Court Orders. In the event that any Escrowed Shares escrow property 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 the property deposited under this Agreement, the Escrow Agent shall promptly notify Xxxxx Xxxxxx, Spinco and the Voyager Stockholders’ Representative and, thereafter, Trustee is hereby expressly authorized, in its sole discretiondiscretion and so long as it give notice of such writ, order, or decree to the Governance Committee and the Trust Administrator (in advance and in writing, if possible), to obey and comply with all writs, orders or decrees so entered or issued, which it is advised by opinion of legal counsel of its own choosing by written opinion of counsel is binding upon it, it and in the event that the Escrow Agent reasonably Trustee obeys or complies with any such writ, order or decree it shall not be liable to any of the parties hereto 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: Champlain Hudson Power Express Project Environmental Trust Agreement

Compliance with Court Orders. In the event that any Escrowed Shares escrow property 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 the property deposited under this AgreementAgreement (each an “Order”), the Escrow Agent shall promptly notify Xxxxx Xxxxxx, Spinco and the Voyager Stockholders’ Representative and, thereafter, is hereby expressly authorized, in its sole discretion, after notifying the Buyer and the GP Seller in writing of its intention to comply with such an Order, to obey and comply with all writs, orders or decrees so entered or issued, which it is advised by opinion of legal counsel of its own choosing is binding upon it, whether with or without jurisdiction, and in the event that the Escrow Agent reasonably obeys or complies with any such writ, order or decree it shall not be liable to any of the parties hereto Parties or to any other person, entity, firm or corporationPerson, 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 (Siebert Financial Corp)

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Compliance with Court Orders. In (a) Subject to the provisions of paragraph 12(b) below, if applicable, in the event that any Escrowed Shares escrow property 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 the property deposited under this Agreement, the Escrow Agent shall promptly notify Xxxxx Xxxxxx, Spinco and the Voyager Stockholders’ Representative and, thereafter, is hereby expressly authorized, in its sole discretion, to obey and comply with all writs, orders or decrees so entered or issued, which it is advised by opinion of legal counsel of its own choosing is binding upon it, and in the event that the Escrow Agent reasonably obeys or complies with any such writ, order or decree it shall not be liable to any of the parties hereto 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: Investment Agreement (TBS International PLC)

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