Common use of Escheat Clause in Contracts

Escheat. Buyer and Seller Agent are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to Buyer, Seller Agent, their respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Fund escheat by operation of law, except to the extent resulting from the Escrow Agent’s gross negligence or willful misconduct.

Escheat. Buyer and Seller Agent are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to Buyer, Seller AgentBuyer or Seller, their respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Fund Escrowed Property escheat by operation of law, except to the extent resulting from the Escrow Agent’s gross negligence or willful misconduct.

Escheat. Buyer Purchasers and Seller Agent Sellers are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to Buyer, Seller AgentPurchasers or Sellers, their respective heirs, legal representatives, successors and permitted assigns, or any other party, should any or all of the Escrow Fund Funds escheat by operation of law, except to the extent resulting from the Escrow Agent’s gross negligence or willful misconduct. [Signature page follows.]

Escheat. Buyer and Seller Agent the Company are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to Buyer, Seller AgentBuyer and the Company, their respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Fund Escrowed Funds escheat by operation of law, except to the extent resulting from the Escrow Agent’s gross negligence or willful misconduct.

Escheat. Buyer Purchaser and Seller Agent Stockholders’ Representative are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to Buyer, Seller AgentPurchaser or Stockholders’ Representative, their respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Fund Holdback Amount escheat by operation of law, except to the extent resulting from the Escrow Agent’s gross negligence or willful misconduct.

Escheat. Buyer Purchaser and Seller Agent Sellers Representative are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to Buyer, Seller AgentPurchaser or Sellers Representative, their respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Fund Funds escheat by operation of law, except to the extent resulting from the Escrow Agent’s gross negligence or willful misconduct.