Common use of Court Proceeding Clause in Contracts

Court Proceeding. Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in the City of Richmond, Virginia, for instructions with respect to such dispute or uncertainty, and pay into such court all funds held by it as Escrow Funds for holding and disposition in accordance with the instructions of such court. Escrow Agent shall have no liability to Agent, Company, any Subscriber or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held as Escrow Funds or any delay in or with respect to any other action required or requested of Escrow Agent.