Common use of Deposit of Escrow Shares Clause in Contracts

Deposit of Escrow Shares. (a) The Stockholders hereby agree to deliver the Escrow Shares to the Escrow Agent at the closing of the transactions contemplated by the Merger Agreement, accompanied by an executed stock power or powers endorsed in blank. The Escrow Agent hereby agrees to hold the Escrow Shares upon receipt in accordance with this Agreement. The Escrow Shares do not form a part of the capital or debt of Escrow Agent and are not subject to the claims of its creditors or depositors but are set apart and held for the exclusive benefit of the parties.