Concerning Escrow Agent Sample Clauses
The 'Concerning Escrow Agent' clause defines the role, responsibilities, and authority of the escrow agent in a transaction. It typically outlines how the escrow agent will hold, manage, and disburse funds or documents according to the instructions agreed upon by the parties. For example, it may specify the conditions under which the escrow agent can release funds or what happens if there is a dispute between the parties. This clause ensures that all parties understand the neutral and limited role of the escrow agent, thereby reducing the risk of misunderstandings or mismanagement of escrowed assets.
Concerning Escrow Agent. 6.1 The Escrow Agent shall hold the Settlement Agreement, the Stay Documents, the Stay Removal Documents and the Dismissal Documents received by it hereunder with the same degree of care with which it holds its own similar property.
6.2 This Escrow Agreement sets forth all the duties of the Escrow Agent with respect to any and all matters pertinent to the Appointment. The Escrow Agent is entering into this Escrow Agreement solely in its capacity as an Escrow Agent. No implied duties or obligations shall be read into the Appointment against the Escrow Agent, and the Escrow Agent shall not be obliged to expend any of its own funds in the performance of its duties hereunder. The Escrow Agent shall not be bound by the provisions of any other agreement by which any Party is obligated, including, without limitation, the Settlement Agreement.
6.3 The Escrow Agent shall not be liable under this Escrow Agreement except to the extent of its own negligence or willful misconduct. The Alfa Parties, on the one hand, and the Telenor Parties, on the other hand, shall jointly and severally indemnify and hold harmless the Escrow Agent (and any successor Escrow Agent) from and against any and all losses, liabilities, claims, actions, damages and expenses, including, without limitation, reasonable third party attorneys’ fees and disbursements, arising out of or in connection with this Escrow Agreement and the Appointment; provided that none of the Alfa Parties shall be liable to the Escrow Agent for the payment of any fees and/or expenses (if any) of the Escrow Agent (or those of its agents and/or its attorneys) incurred in connection with the services provided hereunder (such fees and/or expenses (if any) being the sole responsibility of the Telenor Parties).
6.4 The Escrow Agent shall be entitled to rely upon any order, judgment, certification, demand, notice, instrument or other writing delivered to it hereunder without being required to determine the authenticity or the correctness of any fact stated therein or the propriety or validity of the service thereof. The Escrow Agent may act in reliance upon any instrument or signature believed by it to be genuine and may assume that any Person purporting to give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof has been duly authorized to do so.
6.5 The Escrow Agent shall not be required to make any investigation into the facts or matters stated in any resolution,...
Concerning Escrow Agent. Except as otherwise provided herein, the Escrow Agent may accept and act upon instructions from the Depository or the Public Depositor which the Escrow Agent believes to be genuine, given in person, by telephone, or by other means of communication. Correspondence deemed to be genuine which is delivered by fax transmittal may satisfy any requirement of a written notice or authorization. The Public Depositor and the Depository agree that they will not seek to hold the Escrow Agent liable for risk of loss caused in connection with the performance of its duties hereunder except for ▇▇▇▇▇▇ Agent’s own negligence or willful misconduct. The Custodian’s duties shall be determined only with reference to this Agreement and the Public Deposits Act, and the Custodian is not charged with knowledge or any duties or responsibilities in connection with any other document or agreement.
Concerning Escrow Agent. To induce Escrow Agent to act hereunder, it is further agreed by each of Seller and Purchaser that: 3.01 Escrow Agent shall not be under any duty to give the Escrowed Funds held by it hereunder any greater degree of care than it gives its own similar property and shall not be required to invest any funds held hereunder except as directed in this Agreement.
Concerning Escrow Agent. With respect to the powers and obligations of Escrow Agent hereunder, it is understood and agreed by the parties hereto that: {a) no amendment or modification of this Escrow Agreement or waiver of any of its terms shall affect the rights or duties of Escrow Agent unless written notice thereof executed by Buyer and Seller shall have been given to Escrow Agent; (
Concerning Escrow Agent. Except as otherwise provided herein, the Escrow Agent may accept and act upon instructions from the Depository or the Public Depositor which the Escrow Agent believes to be genuine, given in person, by telephone, or by other means of communication. Correspondence deemed to be genuine which is delivered by fax transmittal may satisfy any requirement of a written notice or authorization. The Public Depositor and the Depository agree that they will not seek to hold the Escrow Agent liable for risk of loss caused in connection with the performance of its duties hereunder except for ▇▇▇▇▇▇ Agenotw’ns negligence or willful misconduct. The Custod Agreement and the Public Deposits Act, and the Custodian is not charged with knowledge or any duties or responsibilities in connection with any other document or agreement.
Concerning Escrow Agent