Documents in Escrow Clause Samples

Documents in Escrow. All of the matters of payment and delivery of documents by the Vendor and the Purchaser pursuant to the terms hereof shall be in escrow and shall be deemed to be concurrent requirements such that, unless otherwise agreed by the parties hereto, nothing is complete and the escrow shall not be released until everything has been paid and delivered.

Documents in Escrow. In addition to holding the Domain Names, Escrow Agent will hold copies of the following executed documents as applicable: The above described items together with the Domain Names and any other documents necessary to consummate the transfer of the Domain Names, are collectively called the “Escrow Items.” Escrow Agent shall not be responsible for, nor incur any liability for the adequacy, sufficiency, title or legal effect of any of the Escrow Items, and Escrow Agent makes no representation or warranty of any nature in connection with the Escrow Items.

Documents in Escrow. The Escrow Agent shall hold the Lassen Closing Documents and the NATCO Closing Documents in escrow and undelivered until the conditions subsequent as described in ARTICLE 6., hereunder have been completed.

Documents in Escrow. Section 10.1 The parties agree that, upon the execution of this Agreement, all documents necessary to effectuate the transaction have been executed (the "Closing Documents") and all conditions precedent to Purchaser's obligation to close have been waived or satisfied. The Closing Documents have been delivered to Escrow Agent. The Closing Documents shall be held in escrow by Escrow Agent pending delivery to Escrow Agent by Purchaser of the Cash Portion of the Purchase Price, and written confirmation from Seller that the Stock Portion of the Purchase Price has been delivered to Seller (the "Payment Event"). In the event that the Payment Event shall not have occurred on or before 5:00 p.m. Eastern Standard Time on Thursday, September 3, 1998 (the "Payment Event Deadline"), then Escrow Agent shall return the Closing Documents to counsel for the respective parties, and the parties shall proceed to Closing pursuant to the terms of the Agreement; provided, however, that the parties, upon written notice to Escrow Agent, may extend the Payment Event Deadline until Tuesday, September 8, 1998. For each day that the Payment Event Deadline extends beyond September 4, 1998, the Purchaser shall pay to Seller an additional sum of Twenty Thousand and 00/100 Dollars ($20,000.00), payable with the Cash Portion of the Purchase Price. Section 10.2 The parties hereby release and relieve Escrow Agent from and against any and all liability for loss, cost, expense, or damage resulting from its performance of the escrow obligations hereunder. In the event of any dispute between the parties pertaining to the distribution of the Closing Documents or the Purchase Price, Escrow Agent shall retain the Escrow Documents and place the disputed portion of the Purchase Price into the registry of the Circuit Court in and for the Thirteenth Judicial Circuit, Hillsborough County, Florida, and shall advise the parties accordingly. Purchaser acknowledges that Escrow Agent is counsel for Seller, and shall not assert any conflict of interest against Seller or Escrow Agent in connection with or resulting from Escrow Agent's continued representation of Seller in connection with the Agreement or this transaction.

Documents in Escrow. The Escrow Agent continues to hold the following documents pursuant to the Amended Escrow Agreement (collectively, the "Documents"): (a) Certificate No. 46 representing 4,339,236 shares of the common stock of Operating PCG issued in the name of AmeriNet, which shares Parent PCG represents and warrants are owned by it, continue to be issued and outstanding and represented by Certificate No. 46, have not been replaced by another stock certificate, and constitute the portion of the issued and outstanding shares of Operating PCG and of the equity and interest of Operating PCG required as Additional Collateral under the Security Agreement (the "Shares"); and (b) Stock Power pertaining to the Shares executed by AmeriNet in favor of ▇▇▇▇▇▇ Capital, which Stock Power Parent PCG represents and warrants continues to be a valid Stock Power with respect to the Shares as fully and completely as though Parent PCG was the signatory thereof.