Common use of Deposit of Consideration Clause in Contracts

Deposit of Consideration. (a) The Purchaser shall deliver to the Escrow Agent (i) the Purchase Agreement or a counterpart thereof signed by the Purchaser, (ii) this Escrow Agreement or a counterpart thereof signed by the Purchaser, (iii) funds specified in the Purchase Agreement to be paid by the Purchaser to the Seller, and (iv) instructions for payment of the funds deposited by the Purchaser with the Escrow Agent to the Seller. (b) The Seller shall deliver to the Escrow Agent (i) the Purchase Agreement or a counterpart thereof signed by the Seller and (il) the Shares properly signed over to the Purchaser. (c) Until termination of this Agreement as set forth in Section 2, all additional Consideration paid by or which becomes payable between the Purchaser and the Seller shall be deposited with the Escrow Agent. (d) The Escrow Agent agrees to hold the Consideration received by it in accordance with the terms and conditions set forth herein until it has received all of the Consideration. (e) The Seller and the Purchaser understand that all Consideration delivered to the Escrow Agent pursuant to Section 1(a) and 1(b) shall be held in the above referenced escrow account until the Closing. The Purchase Price and other consideration will be returned promptly to the Purchaser if all of the Consideration is not received on or before April 31, 1997. After all of the Consideration has been received by the Escrow Agent, the parties hereto hereby authorize and instruct the Escrow Agent to promptly effect the Closing.

Deposit of Consideration. (a) The Purchaser shall deliver to the Escrow Agent (i) the Purchase Agreement or a counterpart thereof signed by the Purchaser, (ii) this Escrow Agreement or a counterpart thereof signed by the Purchaser, (iii) funds specified in the Purchase Agreement to be paid by the Purchaser to the Seller, and (iv) instructions for payment of the funds deposited by the Purchaser with the Escrow Agent to the Seller. (b) The Seller shall deliver to the Escrow Agent (i) the Purchase Agreement or a counterpart thereof signed by the Seller and (ilii) the Shares properly signed over to the Purchaser. (c) Until termination of this Agreement as set forth in Section 2, all additional Consideration paid by or which becomes payable between the Purchaser and the Seller shall be deposited with the Escrow Agent. (d) The Escrow Agent agrees to hold the Consideration received by it in accordance with the terms and conditions set forth herein until it has received all of the Consideration. (e) The Seller and the Purchaser understand that all Consideration delivered to the Escrow Agent pursuant to Section 1(a) and 1(b) shall be held in the above referenced escrow account until the Closing. The Purchase Price and other consideration will be returned promptly to the Purchaser if all of the Consideration is not received on or before April 31, 1997. After all of the Consideration has been received by the Escrow Agent, the parties hereto hereby authorize and instruct the Escrow Agent to promptly effect the Closing.