Common use of Distribution of Escrowed Funds Clause in Contracts

Distribution of Escrowed Funds. Unless a notice under Section 1.2.2 hereof has been given and Escrowed Funds in satisfaction of such notice have not been delivered to Purchaser, either because the 20-day period has not yet run out or because a dispute relating to the claim made by such notice is then pending, the Escrowed Funds or such portion of them as at the time remain in escrow and is not in dispute, together with all dividends and distributions received by Escrow Agent with respect thereto, shall be returned to Seller on the first anniversary of the Closing Date.

Distribution of Escrowed Funds. Unless a notice under Section 1.2.2 1.02(b) hereof has been given and Escrowed Funds in satisfaction of such notice have not been delivered to Purchaser, either because the 20-day period has not yet run out or because a dispute relating to the claim made by such notice is then pending, the Escrowed Funds or such portion of them as at the time remain remains in escrow and is not in dispute, together with all dividends and distributions received by Escrow Agent with respect thereto, shall be returned to Seller on the first anniversary of the Closing Date.