Common use of Disbursement of Escrow Fund Clause in Contracts

Disbursement of Escrow Fund. Escrow Agent may disburse all or any portion of the Escrow Fund in accordance with and in reliance upon written instructions from both Seller and Purchaser. The Escrow Agent shall have no responsibility to make an investigation or determination of any facts underlying such instructions or as to whether any conditions upon which the funds are to be released have been fulfilled or not fulfilled, or to whom funds are released. If Escrow Agent receives a notice from Seller or Purchaser that the Agreement has been terminated pursuant to Section 4.2 of the Agreement, Escrow Agent shall immediately deliver all of the Escrow Fund to Seller. If Escrow Agent receives a notice from Seller or Purchaser that the Agreement has been terminated, Escrow Agent shall immediately deliver all of the Escrow Fund to Seller. Escrow Agent shall release the Escrow Fund to Seller without the consent of Purchaser or notice to Purchaser.

Disbursement of Escrow Fund. Escrow Agent may disburse all or any portion of the Escrow Fund in accordance with and in reliance upon written instructions from both Seller and Purchaser. The Escrow Agent shall have no responsibility to make an investigation or determination of any facts underlying such instructions or as to whether any conditions upon which the funds are to be released have been fulfilled or not fulfilled, or to whom funds are released. If Escrow Agent receives a notice from Seller or Purchaser that the Agreement has been terminated Terminated other than pursuant to Section 4.2 8.2 of the AgreementAgreement on account of Seller’s default, Escrow Agent shall immediately deliver all of the Escrow Fund to Seller. If Escrow Agent receives a notice from Seller or Purchaser that the Agreement has been terminatedTerminated, Escrow Agent shall immediately deliver all of the Escrow Fund to Seller. Escrow Agent shall release the Escrow Fund to Seller without the consent of Purchaser or notice to Purchaser.. SAMPLE