Conflicting Demands. In the event a party requests (the “Requesting Party”) the release of the Deposit, then such Requesting Party shall provide written notice thereof (the “Escrow Notice”) to the non-Requesting Party and Escrow Holder, and in the absence of any good faith dispute for which the non-Requesting Party notifies the Requesting Party and Escrow Holder in writing within five (5) days after receipt of the Escrow Notice, Escrow Holder shall release the Deposit to the Requesting Party. If Escrow Holder receives conflicting demands from the parties in connection with the release of the Deposit, then Escrow Holder may interplead the Deposit held by Escrow Holder pursuant to this Agreement with a court of competent jurisdiction.
Appears in 4 contracts
Samples: Purchase and Sale Agreement and Joint Escrow Instructions, Purchase and Sale Agreement and Joint Escrow Instructions, Purchase and Sale Agreement and Joint Escrow Instructions
