Common use of Escrow Agent Clause in Contracts

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 14 contracts

Samples: Securities Purchase Agreement (TFF Pharmaceuticals, Inc.), Escrow Agreement, Securities Purchase Agreement (Clean Diesel Technologies Inc)

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Escrow Agent. The Escrow Agent undertakes has agreed to perform only act as such duties for the convenience of the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be impliedEscrow Agent. The Escrow Agent shall not be liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability or any instrument deposited with or delivered by Escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have no liability under been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequences of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed Escrow Agent to comply with said time limit; (e) for the default, error, action or omission of either party to the escrow. Escrow Agent, in its capacity as escrow agent, shall be entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and no duty to inquire genuine. In the event of any dispute as to the provisions disposition of any agreement other than this Escrow Agreement. The monies held in escrow, or of any documents held in escrow, Escrow Agent may rely upon may, if such Escrow Agent so elects, interplead the matter by filing an interpleader action in a court of competent jurisdiction in the county or circuit where the Real Property is located (to the jurisdiction of which both parties do hereby consent), and shall not be liable for acting pay into the registry of the court such monies held by Escrow Agent, or refraining from acting upon deposit any written noticesuch documents with respect to which there is a dispute in the registry of such court, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The whereupon such Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of relieved and released from any such document. The further liability as Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fundhereunder. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause compliance with any legal process, subpoena, writ, order, judgment and decree of any loss to the Issuer court, whether issued with or Depositor. The Escrow Agent may execute any of its powers without jurisdiction, and perform any of its duties hereunder directly whether or through agents not subsequently vacated, modified, set aside or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 10 contracts

Samples: Agreement of Purchase and Sale (Lodging Fund REIT III, Inc.), Agreement of Purchase and Sale (Lodging Fund REIT III, Inc.), Agreement of Purchase and Sale (Moody National REIT II, Inc.)

Escrow Agent. The Escrow Agent undertakes referred to perform only in the definition thereof ------------ contained in Section 1.1 hereof has agreed to act as such duties for the convenience of ----------- the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be impliedEscrow Agent. The Escrow Agent shall not be liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have no liability under been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequence of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed Escrow Agent to comply with said time limit; or (e) for the default, error, action or omission of either party to the escrow. Escrow Agent, in its capacity as escrow agent, shall be entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and no duty to inquire genuine. In the event of any dispute as to the provisions disposition of the Deposit, the Deposit or any other monies held in escrow, or of any agreement other than this Escrow Agreement. The documents held in escrow, Escrow Agent may rely upon may, if such Escrow Agent so elects, interplead the matter by filing an interpleader action in a court of general jurisdiction in the county or circuit where the Real Property is located (to the jurisdiction of which both parties do hereby consent), and shall not be liable for acting pay into the registry of the court the Deposit, or refraining from acting upon deposit any written noticesuch documents with respect to which there is a dispute in the Registry of such court, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The whereupon such Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of relieved and released from any such document. The further liability as Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fundhereunder. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause 's compliance with any legal process, subpoena, writ, order, judgment and decree of any loss to the Issuer court, whether issued with or Depositor. The Escrow Agent may execute any of its powers without jurisdiction, and perform any of its duties hereunder directly whether or through agents not subsequently vacated, modified, set aside or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 7 contracts

Samples: Purchase and Sale Agreement (Patriot American Hospitality Operating Co\de), Purchase and Sale Agreement (Patriot American Hospitality Operating Co\de), Purchase and Sale Agreement (Patriot American Hospitality Operating Co\de)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s and without gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositormisconduct. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be carefully selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 7 contracts

Samples: Escrow Agreement (DB Commodity Index Tracking Master Fund), Escrow Agreement (DB Commodity Index Tracking Master Fund), Escrow Agreement (DB Commodity Index Tracking Master Fund)

Escrow Agent. The Escrow Agent’s duties pursuant to this Agreement are purely ministerial in nature, and the Escrow Agent undertakes shall incur no liability whatsoever except for its willful misconduct or gross negligence, so long as the Escrow Agent is acting in good faith. The Parties hereby release the Escrow Agent from any liability for any error of judgment or for any act done or omitted to perform only such be done by the Escrow Agent in the good faith performance of its duties hereunder and do each hereby indemnify the Escrow Agent against, and shall hold, save, and defend the Escrow Agent harmless from, any costs, liabilities, and expenses incurred by the Escrow Agent in serving as are expressly set forth herein Escrow Agent hereunder and no in faithfully discharging its duties shall be impliedand obligations hereunder. The Escrow Agent shall have no liability under and no duty is acting as a stakeholder only with respect to inquire the Xxxxxxx Money. If there is any dispute as to whether the provisions of any agreement other than this Escrow Agreement. The Agent is obligated to deliver the Xxxxxxx Money or as to whom the Xxxxxxx Money is to be delivered, the Escrow Agent may rely upon refuse to make any delivery and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished may continue to it hereunder and believed by it to be genuine and to have been signed or presented hold the Xxxxxxx Money until receipt by the proper party Escrow Agent of an authorization in writing, signed by Seller and Buyer, directing the disposition of the Xxxxxxx Money, or, in the absence of such written authorization, the Escrow Agent may hold the Xxxxxxx Money until a final determination of the rights of the Parties in an appropriate judicial proceeding. If such written authorization is not given, or partiesa proceeding for such determination is not begun, within thirty (30) days after notice to the Escrow Agent of such dispute, the Escrow Agent may bring an appropriate action or proceeding for leave to deposit the Xxxxxxx Money in a court of competent jurisdiction pending such determination. The Escrow Agent shall be under reimbursed for all costs and expenses of such action or proceeding, including reasonable attorneys’ fees and disbursements, by the Party determined not to be entitled to the Xxxxxxx Money. Upon making delivery of the Xxxxxxx Money in any of the manners herein provided, the Escrow Agent shall have no duty to inquire into further liability or investigate the validity, accuracy or content of any such documentobligation hereunder. The Escrow Agent shall have no duty to solicit any payments which may be due it or execute the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by Receipt attached hereto in order to confirm that it in good faith except to has received the extent that a court of competent jurisdiction determines that Xxxxxxx Money and is holding the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it same on deposit in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionhereof.

Appears in 7 contracts

Samples: Dealership Asset Purchase Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Purchase Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Purchase Agreement (LMP Automotive Holdings, Inc.)

Escrow Agent. The Escrow Agent’s duties pursuant to this Agreement are purely ministerial in nature, and the Escrow Agent undertakes shall incur no liability whatsoever except for its willful misconduct or gross negligence, so long as the Escrow Agent is acting in good faith. The Parties hereby release the Escrow Agent from any liability for any error of judgment or for any act done or omitted to perform only such be done by the Escrow Agent in the good faith performance of its duties hereunder and do each hereby indemnify the Escrow Agent against, and shall hold, save, and defend the Escrow Agent harmless from, any costs, liabilities, and expenses incurred by the Escrow Agent in serving as are expressly set forth herein Escrow Agent hereunder and no in faithfully discharging its duties shall be impliedand obligations hereunder. The Escrow Agent shall have no liability under and no duty is acting as a stakeholder only with respect to inquire the Deposit. If there is any dispute as to whether the provisions of any agreement other than this Escrow Agreement. The Agent is obligated to deliver the Deposit or as to whom the Deposit is to be delivered, the Escrow Agent may rely upon refuse to make any delivery and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished may continue to it hereunder and believed by it to be genuine and to have been signed or presented hold the Deposit until receipt by the proper party Escrow Agent of an authorization in writing, signed by Seller and Buyer, directing the disposition of the Deposit, or, in the absence of such written authorization, the Escrow Agent may hold the Deposit until a final non appealable determination of the rights of the Parties in an appropriate judicial proceeding. If such written authorization is not given, or partiesa proceeding for such determination is not begun, within thirty (30) days after notice to the Escrow Agent of such dispute, the Escrow Agent may bring an appropriate action or proceeding for leave to deposit the Deposit in a court of competent jurisdiction pending such determination. The Escrow Agent shall be under reimbursed for all costs and expenses of such action or proceeding, including reasonable attorneys’ fees and disbursements, by the Party determined not to be entitled to the Deposit. Upon making delivery of the Deposit in any of the manners herein provided, the Escrow Agent shall have no duty to inquire into further liability or investigate the validity, accuracy or content of any such documentobligation hereunder. The Escrow Agent shall have no duty to solicit any payments which may be due it or execute the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by Receipt attached hereto in order to confirm that it in good faith except to has received the extent that a court of competent jurisdiction determines that Deposit and is holding the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it same on deposit in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionhereof.

Appears in 6 contracts

Samples: Dealership Asset Purchase Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Purchase Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Purchase Agreement (LMP Automotive Holdings, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 6 contracts

Samples: Securities Purchase Agreement (TFF Pharmaceuticals, Inc.), Subscription Escrow Agreement (Visual Network Design, Inc.), Subscription Escrow Agreement (Commonwealth Income & Growth Fund V)

Escrow Agent. The Escrow Agent’s duties pursuant to this Agreement are purely ministerial in nature, and the Escrow Agent undertakes shall incur no liability whatsoever except for its willful misconduct or gross negligence, so long as the Escrow Agent is acting in good faith. The Parties hereby release the Escrow Agent from any liability for any error of judgment or for any act done or omitted to perform only such be done by the Escrow Agent in the good faith performance of its duties hereunder and do each hereby indemnify the Escrow Agent against, and shall hold, save, and defend the Escrow Agent harmless from, any costs, liabilities, and expenses incurred by the Escrow Agent in serving as are expressly set forth herein Escrow Agent hereunder and no in faithfully discharging its duties shall be impliedand obligations hereunder. The Escrow Agent shall have no liability under and no duty is acting as a stakeholder only with respect to inquire the Xxxxxxx Money. If there is any dispute as to whether the provisions of any agreement other than this Escrow Agreement. The Agent is obligated to deliver the Xxxxxxx Money or as to whom the Xxxxxxx Money is to be delivered, the Escrow Agent may rely upon refuse to make any delivery and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished may continue to it hereunder and believed by it to be genuine and to have been signed or presented hold the Xxxxxxx Money until receipt by the proper party Escrow Agent of an authorization in writing, signed by Contributor and LMP, directing the disposition of the Xxxxxxx Money, or, in the absence of such written authorization, the Escrow Agent may hold the Xxxxxxx Money until a final determination of the rights of the Parties in an appropriate judicial proceeding. If such written authorization is not given, or partiesa proceeding for such determination is not begun, within thirty (30) days after notice to the Escrow Agent of such dispute, the Escrow Agent may bring an appropriate action or proceeding for leave to deposit the Xxxxxxx Money in a court of competent jurisdiction pending such determination. The Escrow Agent shall be under reimbursed for all costs and expenses of such action or proceeding, including reasonable attorneys’ fees and disbursements, by the Party determined not to be entitled to the Xxxxxxx Money. Upon making delivery of the Xxxxxxx Money in any of the manners herein provided, the Escrow Agent shall have no duty to inquire into further liability or investigate the validity, accuracy or content of any such documentobligation hereunder. The Escrow Agent shall have no duty to solicit any payments which may be due it or execute the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by Receipt attached hereto as Exhibit F in order to confirm that it in good faith except to has received the extent that a court of competent jurisdiction determines that Xxxxxxx Money and is holding the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it same on deposit in accordance with the advice provisions hereof. Following written notice from either Party setting forth the identity of the Party to whom such Xxxxxxx Money (or opinion portions thereof) are to be disbursed and further setting forth the specific section or paragraph of any this Agreement pursuant to which the disbursement of such counselXxxxxxx Money (or portions thereof) are being requested, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as disburse such Xxxxxxx Money pursuant to its duties or rights hereunder or shall receive instructionssuch notice; provided, claims or demands from any party hereto whichhowever, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the that Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever shall (including but not limited to lost profits), even if 1) promptly notify the counterparty that Escrow Agent has been advised of the likelihood received a request for disbursement, and (2) withhold disbursement of such loss Xxxxxxx Money for a period of fifteen (15) business days after receipt of such notice of disbursement and if Escrow Agent receives within said fifteen (15) business day period either (A) a written notice from the party that submitted the request for disbursement which notice countermands the earlier notice of disbursement, or damage (B) a written notice from the other party that conflicts with the request for disbursement given by the party submitting such request, then Escrow Agent shall withhold such disbursement until the parties can agree upon a disbursement of such Xxxxxxx Money. The Parties shall send to the other Parties, in each case pursuant to Section 13(d) herein, a duplicate copy of any written notice sent to Escrow Agent and regardless of the form of actionrequesting any such disbursement or countermanding a request for disbursement.

Appears in 4 contracts

Samples: Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.)

Escrow Agent. The If at any time, there shall exist any dispute between the Company and the Investor with respect to holding or disposition of any portion of the Escrow Funds or the Common Stock or any other obligations of Escrow Agent undertakes hereunder, or if at any time Escrow Agent is unable to perform only determine, to Escrow Agent's sole satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent's proper actions with respect to its obligations hereunder, or if the parties have not within thirty (30) days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 9 hereof, appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions: Suspend the performance of any of its obligations (including without limitation any disbursement obligations) under this Escrow Agreement until such duties as are expressly set forth herein and no duties dispute or uncertainty shall be impliedresolved to the sole satisfaction of Escrow Agent or until a successor Escrow Agent shall be appointed (as the case may be); provided however, Escrow Agent shall continue to invest the Escrow Funds in accordance with Section 8 hereof; and/or Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required by law, pay into such court, for holding and disposition in accordance with the instructions of such court, all funds held by it in the Escrow Funds, after deduction and payment to Escrow Agent of all fees and expenses (including court costs and attorneys' fees) payable to, incurred by, or expected to be incurred by Escrow Agent in connection with performance of its duties and the exercise of its rights hereunder. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions Company, the Investor, or any person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by delay in the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content disbursement of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or funds held in the Escrow Fund. The Escrow Agent shall not be liable for Funds or any delay in with respect to any other action taken required or omitted by it in good faith except to the extent that a court requested of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 4 contracts

Samples: 5 Escrow Agreement (Electric Aquagenics Unlimited Inc), Exhibit 5 Escrow Agreement (Electric Aquagenics Unlimited Inc), Escrow Agreement (Trust Licensing, Inc., F/K/a New Mountaintop CORP)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement (the “Underlying Agreement”), nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. In the event of any conflict between the terms and provisions of this Escrow Agreement, those of the Underlying Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 4 contracts

Samples: Agreement and Plan of Merger (American Land Lease Inc), Agreement and Plan of Merger (GCP Sunshine Acquisition, Inc. A Delaware Corp), Escrow Agreement (American Land Lease Inc)

Escrow Agent. The Escrow Agent undertakes referred to perform only in the definition thereof contained in Paragraph 1.1 hereof has agreed to act as such duties for the convenience of the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow FundAgent. The Escrow Agent shall not be liable liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Agent or exchange by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequence of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed the Escrow Agent to comply with said time limit; (e) for the default, error, action taken or omitted by it in good faith except omission of either party to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositorescrow. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and genuine. The Escrow Agent is counsel for Purchaser. It is agreed that the careful selection Escrow Agent shall not be disqualified from representing either party in connection with any litigation which might arise out or in connection with this Agreement, merely by virtue of the fact that such Escrow Agent has agreed to act as Escrow Agent hereunder. Further, in that event of any dispute as to the disposition of the Deposit or any other monies held in escrow, the Escrow Agent may, if such agent or attorney) Escrow Agent so elects, interplead the parties by filing an interpleader action in any court having subject matter jurisdiction of such a matter (to the personal jurisdiction of which both parties do hereby consent), and may consult with counselpay into the registry of the court the Deposit and any other monies held in escrow, accountants including all interest earned thereon, whereupon such Escrow Agent shall be relieved and other skilled persons to released from any further liability as Escrow Agent hereunder. In the event of such interpleader action, the Escrow Agent shall not be selected and retained by itdisabled from representing a party hereto. The Escrow Agent shall not be liable for anything doneEscrow Agent's compliance with any legal process, suffered or omitted in good faith by it in accordance with the advice or opinion subpoena, writs, orders, judgments and decree of any such counselcourt, accountants whether issued with or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties without jurisdiction, and whether or rights hereunder not subsequently vacated, modified, set aside or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 4 contracts

Samples: Purchase Agreement (Humphrey Hospitality Trust Inc), Purchase Agreement (Humphrey Hospitality Trust Inc), Purchase Agreement (Humphrey Hospitality Trust Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Co-Issuers and the Placement Agent, in connection herewith, if any, including without limitation the Offering Document , nor shall the Escrow Agent be required to inquire as to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Offering , any schedule or exhibit attached to this Agreement, or any other agreement other than among the Co-Issuers and the Placement Agent, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any party, any beneficiary or partiesother person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Funds, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 11. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that Funds, including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 4 contracts

Samples: Escrow Agreement (One Chestnut Realty LLC), Escrow Agreement (Solis Seattle, LLC), Escrow Agreement (Regal 286 Lenox LLC)

Escrow Agent. The Escrow Agent undertakes to perform only such duties hereby accepts its designation as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it agrees to be genuine hold and to have been signed or presented by disburse the proper party or partiesXxxxxxx Money as herein provided. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action acts taken or omitted by it in good faith except faith, shall only be liable for its willful or gross negligence, and may, in its sole discretion, rely upon the oral or written notices, communications, orders or instructions given by the County or Seller. In the event of a dispute between the County and Seller under this Contract sufficient in the discretion of Escrow Agent to justify its doing so, Escrow Agent shall be entitled to tender into the extent that a registry or custody of any court of competent jurisdiction determines that all money or property in its hands under the Escrow Agent’s gross negligence terms of this Contract with or willful misconduct was without the primary cause initiation of such legal proceedings as it deems appropriate, and thereupon to be discharged from all further duties under this Contract. Any such legal action may be brought in any loss to the Issuer or Depositor. The such court as Escrow Agent shall determine to have jurisdiction thereof. Seller and the County hereby agree to indemnify and hold harmless Escrow Agent against any and all losses, claims, damages, liabilities and expenses, including, without limitation, reasonable costs of investigation and counsel fees and disbursements which may execute any be imposed upon Escrow Agent or incurred by it in connection with its acceptance of its powers and perform any this appointment as Escrow Agent hereunder or the performance of its duties hereunder directly hereunder, including, without limitation, any litigation arising from this Contract or through agents or attorneys (and shall be liable only for involving the careful selection of any such agent or attorney) and may consult with counselsubject matter hereof; provided, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything donehowever, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the if Escrow Agent shall be uncertain as to its duties found guilty of willful default or rights hereunder or shall receive instructionsgross negligence under this Contract, claims or demands from any party hereto whichthen, in its opinionsuch event, conflict with Escrow Agent shall bear all such losses, claims, damages and expenses; and provided further, that neither Seller nor the County shall have any liability to Escrow Agent under this indemnity provision for any cost of litigation incurred by Escrow Agent, including, without limitation, attorney fees, arising or caused solely by the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all conduct of the other parties hereto or by party which results in a final order or judgment of a court of competent jurisdictiondispute solely between the other party and Escrow Agent. Anything in this Escrow Agreement to the contrary notwithstandingSELLER ACKNOWLEDGES, in no event shall the Escrow Agent be liable for specialUNDERSTANDS AND AGREES THAT (A) THE ESCROW AGENT IS THE COUNTY’S COUNSEL AND AS SUCH THE ESCROW AGENT HAS NOT AND WILL NOT EXERCISE ANY INDEPENDENT PROFESSIONAL JUDGMENT ON SELLER’S BEHALF, indirect or consequential loss or damage of any kind whatsoever AND (including but not limited to lost profits)B) THE ESCROW AGENT, even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionIN THE EVENT OF A DISPUTE BETWEEN THE COUNTY AND SELLER, WHERE ESCROW AGENT ACTS AS THE COUNTY’S COUNSEL AND REPRESENTS THE COUNTY IN ANY DISPUTE OR LITIGATION, SHALL RESIGN AND SHALL APPOINT A SUCCESSOR OR SUBSTITUTE ESCROW AGENT, WHICH THE COUNTY AND SELLER SPECIFICALLY AGREE THE ESCROW AGENT MAY DO.

Appears in 4 contracts

Samples: Purchase and Sales Contract, Purchase and Sales Contract, Purchase and Sales Contract

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall have has no liability under knowledge of, nor any requirement to comply with, the terms and no duty to inquire as to the provisions conditions of any other agreement between the Parties, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement between the Parties, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken taken, suffered or omitted to be taken by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any direct loss to the Issuer or Depositoreither Party. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, in its opinion, which conflict with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled either to (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given a joint written direction executed by all Authorized Representatives of the other parties hereto Parties which eliminates such conflict or by a final court order or judgment (b) file an action in interpleader. Escrow Agent shall have no duty to solicit any payments which may be due it, including, without limitation, the Funds nor shall the Escrow Agent have any duty or obligation to confirm or verify the accuracy or correctness of a court of competent jurisdictionany amounts deposited with it hereunder. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 3 contracts

Samples: Escrow Agreement (Sunity Online Entertainment LTD), Escrow Agreement (Sunity Online Entertainment LTD), Escrow Agreement (Sunity Online Entertainment LTD)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer or DepositorIssuer. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 3 contracts

Samples: Escrow Agreement (Ironwood Multi-Strategy Fund LLC), Escrow Agreement (Ironwood Institutional Multi-Strategy Fund LLC), Subscription Escrow Agreement (Cbny Investment Services Corp)

Escrow Agent. The Escrow Agent undertakes to perform only such shall have no duties as are or responsibilities other than those expressly set forth herein and no duties in this Escrow Agreement. The Escrow Agent shall be impliedliable as an escrow agent only and shall not be responsible or accountable for the correctness of any information set forth in any statements delivered to it including, without limitation, any disbursement notice delivered by the Company pursuant to Section 4(a) or Section 4(b), shall not be required in any event to verify the correctness of any such statements and shall not be responsible for verifying compliance by the Company with the requirements any securities laws, rules or regulations, or the terms of any subscription agreement. The Escrow Agent shall be entitled to rely, without any investigation whatsoever, upon any communication received from the Company, and the Escrow Agent shall be entitled to deem the signatories of any subscription agreement or any communication submitted to it hereunder as being those purported to be authorized to sign such communication on behalf of such party and shall be entitled to rely on the genuineness of the signatures of such signatories without inquiry and without sustaining evidence of any kind. The Escrow Agent shall have the right to consult with counsel and shall be fully protected and shall not be liable with respect to any action taken or omitted by the Escrow Agent in good faith and on advice of counsel, and shall be fully protected and shall not be liable for any error of judgments or for any act done or omitted by it in good faith, except for its own gross negligence or willful misconduct. The Escrow Agent shall have no liability under and no duty duties to inquire as to the provisions of any agreement other than anyone except those signing this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty the right to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly through agents, attorneys, custodians or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsnominees. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.addition:

Appears in 3 contracts

Samples: Escrow Agreement (Press Ventures, Inc.), Escrow Agreement (Title Starts Online, Inc.), Escrow Agreement (Title Starts Online, Inc.)

Escrow Agent. The Escrow Agent undertakes referred to perform only in the definition thereof contained in SECTION 1.1 hereof has agreed to act as such duties for the convenience of the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be impliedEscrow Agent. The Escrow Agent shall not be liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have no liability under been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequence of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed Escrow Agent to comply with said time limit; or (e) for the default, error, action or omission of either party to the escrow. Escrow Agent, in its capacity as escrow agent, shall be entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and no duty to inquire genuine. In the event of any dispute as to the provisions disposition of the Deposit or any other monies held in escrow, or of any agreement other than this Escrow Agreement. The documents held in escrow, Escrow Agent may rely upon may, if such Escrow Agent so elects, interplead the matter by filing an interpleader action in a court of general jurisdiction in the county or circuit where the Real Property is located (to the jurisdiction of which both parties do hereby consent), and shall not be liable for acting pay into the registry of the court the Deposit, or refraining from acting upon deposit any written noticesuch documents with respect to which there is a dispute in the Registry of such court, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The whereupon such Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of relieved and released from any such document. The further liability as Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fundhereunder. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause 's compliance with any legal process, subpoena, writ, order, judgment and decree of any loss to the Issuer court, whether issued with or Depositor. The Escrow Agent may execute any of its powers without jurisdiction, and perform any of its duties hereunder directly whether or through agents not subsequently vacated, modified, set aside or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 3 contracts

Samples: Agreement of Purchase and Sale (Prentiss Properties Trust/Md), Agreement of Purchase and Sale (Prentiss Properties Trust/Md), Agreement of Purchase and Sale (Prentiss Properties Trust/Md)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties Security 1st Title, Concordia, Kansas, shall be impliedthe escrow agent for the purpose of this transaction. Said escrow agent shall receive the original copy of this Agreement, Trustees’ Deed, and other contract documents at the time of the execution of this Agreement or as soon thereafter as the parties can tender the same to the said escrow agent. At closing said escrow agent shall collect the balance of the purchase price and any additional amounts owed by Purchaser, shall pay the expenses owed by the Seller out of the escrow funds and remit the balance thereof to Seller. The Escrow Agent escrow agent shall deliver the deed to the Purchaser upon payment in full of the contract and all expenses owed by Purchaser at closing. Security 1st Title, Concordia, Kansas, is xxxxxx appointed as escrow agent for this sale and shall have no liability under and no duty the authority to inquire as do whatever is necessary to aid in the provisions handling of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsescrow. In accepting any funds or documents delivered hereunder, it is agreed and understood that, in the event that of disagreement between the Escrow Agent shall be uncertain as parties to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled the escrow agent will and does reserve the right to refrain from taking any action hold all money and its sole obligation shall be to keep safely all property held in documents concerning this escrow until it shall be directed otherwise in writing by a mutual agreement has been reached between all of the other parties hereto or until delivery is legally authorized by a final order judgment or judgment of decree from a court of competent jurisdiction. Anything The escrow agent may bring an appropriate action or proceeding for leave to deposit said money and/or documents in this Escrow Agreement court pending such determination and shall have the right to employ attorneys for the contrary notwithstanding, in no event reasonable protection of the escrow property and of itself and shall have the Escrow Agent be liable for special, indirect or consequential loss or damage right to reimburse itself out of any kind whatsoever (including but not limited funds in its possession for costs, expenses, attorney fees and its compensation, and shall have a lien on all money and documents held in escrow to lost profits)cover same. Furthermore, even the parties hereby agree that if this contract is canceled by the Escrow Agent has been advised parties or if any xxxxxxx money is to be forfeited or refunded, the amount to be distributed shall first be reduced by any unpaid charges for credit reports, appraisals, surveys, and title investigation fees, if any, incurred by the escrow agent on behalf of the likelihood of such loss or damage and regardless of party receiving the form of actionfunds.

Appears in 3 contracts

Samples: Contract for Sale of Real Estate, Contract for Sale of Real Estate, Contract for Sale of Real Estate

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the APA (each an “Underlying Agreement”), nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with any Underlying Agreement, nor shall any additional obligations of the Escrow Agent be inferred from the terms of any Underlying Agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of any Underlying Agreement, any schedule or exhibit attached to the provisions Agreement, or any other agreement among the Parties, the terms and conditions of any agreement other than this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Syncardia Systems Inc), Asset Purchase Agreement (Syncardia Systems Inc), Asset Purchase Agreement (World Heart Corp)

Escrow Agent. The Escrow Agent undertakes agrees to perform only such duties as are expressly set forth herein hold, keep and no duties shall be implieddeliver the Xxxxxxx Money and all other sums delivered to Escrow Agent in accordance with the terms and provisions of this Agreement. The Escrow Agent shall have no liability under not be entitled to any fees or compensation for its services hereunder. Escrow Agent shall be liable only to hold said sums and no duty deliver the same to inquire as to the parties named herein in accordance with the provisions of any agreement other than this Escrow Agreement. The , it being expressly understood that by acceptance of this Agreement Escrow Agent may rely upon is acting in the capacity as a depository only and shall not be liable or responsible to anyone for acting any damages, losses or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to expenses unless same shall have been signed or presented caused by the proper party gross negligence or partieswillful malfeasance of Escrow Agent. The In the event of any disagreement between Purchaser and Seller resulting in any adverse claims and demands being made in connection with or for the monies involved herein or affected hereby, Escrow Agent shall be under no duty entitled to inquire into or investigate the validity, accuracy or content of refuse to comply with any such document. The claims or demands so long as such disagreement may continue; and in so refusing Escrow Agent shall have make no duty to solicit delivery or other disposition of any payments which may be due of the monies then held by it or under the Escrow Fund. The terms of this Agreement, and in so doing Escrow Agent shall not become liable to anyone for such refusal; and Escrow Agent shall be liable for any action taken or omitted by it entitled to continue to refrain from acting until (a) the rights of the adverse claimants shall have been finally adjudicated in good faith except to the extent that a court of competent jurisdiction determines that of the monies involved herein or affected hereby, or (b) all differences shall have been adjusted by agreement between Seller and Purchaser, and Escrow Agent shall have a period not exceeding three (3) business days after receipt by Escrow Agent of any notice or request to perform any act or disburse any portion of the monies held by Escrow Agent under the terms of this Agreement. Further, Escrow Agent shall have the right at all times to pay all sums held by it (x) to the appropriate party under the terms hereof, provided no dispute exists between the parties hereto, or (y) into any court of competent jurisdiction after a dispute between or among the parties has arisen, whereupon Escrow Agent’s obligations hereunder shall terminate. Notwithstanding anything to the contrary contained in this Agreement, including, without limitation, the other provisions of this Section 12.18, prior to the expiration of the Inspection Period, the escrow established hereunder shall be a “sole order” escrow for the benefit of Purchaser (meaning that Escrow Agent shall act solely in accordance with the instructions of Purchaser until the expiration of the Inspection Period in respect of the Xxxxxxx Money). Without limiting the generality of the foregoing, in the event that on or prior to the expiration of the Inspection Period, Purchaser delivers notice to Escrow Agent stating that Purchaser has elected to terminate this Agreement, then Escrow Agent shall refund to Purchaser the Xxxxxxx Money without any requirement that Escrow Agent first notify or obtain any approval or consent of Seller (and Escrow Agent agrees that it shall not be permitted to, and shall not, follow any conflicting instructions given by Seller or any third party with regard thereto). Seller agrees in such instance not to deliver any conflicting instructions to Escrow Agent for any or no reason and hereby instructs Escrow Agent to act in respect of the Xxxxxxx Money solely in accordance with Purchaser’s instructions on or prior to the expiration of the Inspection Period. Seller and Purchaser jointly and severally agree to indemnify and hold harmless Escrow Agent from any and all costs, damages and expenses, including reasonable attorney’s fees, that Escrow Agent may incur in its compliance of and in good faith with the terms of this Agreement; provided, however, that this indemnity shall not extend to any acts of gross negligence or willful misconduct was malfeasance on the primary cause part of any loss to the Issuer or DepositorEscrow Agent. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it Section 12.18 shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionsurvive Closing.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (CNL Healthcare Properties, Inc.), Purchase and Sale Agreement (CNL Healthcare Properties, Inc.), Purchase and Sale Agreement (CNL Healthcare Properties, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such documentdocument except as provided herein. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow FundDeposit. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to OneMedNet or the Issuer or DepositorInvestors. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 3 contracts

Samples: Subscription Escrow Agreement (OneMedNet Corp), Subscription Escrow Agreement (OneMedNet Corp), Subscription Escrow Agreement (OneMedNet Corp)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Notwithstanding anything to the contrary, Escrow Agent has no knowledge of, nor any obligation to comply with, the terms and conditions of any other agreement, Escrow Agent shall have no liability under and no duty to inquire as to not be responsible for determining the provisions meaning of any agreement capitalized term not entirely defined herein, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Any notice, document, instruction or request delivered by a Party but not contemplated under this Agreement may be disregarded by Escrow Agent. Escrow Agent shall not be liable for any action taken, suffered or omitted to be taken by it in good faith except to the extent that Escrow Agent’s gross negligence or willful misconduct was the cause of any direct loss to either Party. Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through affiliates or agents. In the event Escrow Agent shall be uncertain, or believes there is some ambiguity, as to its duties or rights hereunder or receives instructions, claims or demands from any Party hereto which in Escrow Agent’s judgment conflict with the provisions of this Agreement, or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled either to: (a) refrain from taking any action until it shall be given (i) a joint written direction executed by Authorized Representatives of the Parties which eliminates such ambiguity or conflict or (ii) a court order issued by a court of competent jurisdiction (it being understood that Escrow Agent shall be entitled conclusively to rely and act upon any such court order and shall have no obligation to determine whether any such court order is final); or (b) file an action in interpleader. Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Deposit, including, without limitation, the Escrow Deposit nor shall Escrow Agent shall not be liable for have any action taken duty or omitted by it in good faith except obligation to confirm or verify the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence accuracy or willful misconduct was the primary cause correctness of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult amounts deposited with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdictionhereunder. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 3 contracts

Samples: Escrow Agreement (Far Point Acquisition Corp), Letter Agreement (Far Point Acquisition Corp), Letter Agreement (Far Point Acquisition Corp)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Underwriting Agreement by and between the Company and the Underwriter dated the date set forth in the Company’s Rule 424 final prospectus filed as a part of the Registration Statement (the “Underlying Agreement”), nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with the Underlying Agreement, nor shall any additional obligations of the Escrow Agent be inferred from the terms of the Underlying Agreement, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of any Underlying Agreement, any schedule or exhibit attached to the provisions Agreement, or any other agreement among the Parties, the terms and conditions of any agreement other than this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 3 contracts

Samples: Form of Escrow Agreement (Xstream Systems Inc), Form of Escrow Agreement (Xstream Systems Inc), Form of Escrow Agreement (Xstream Systems Inc)

Escrow Agent. The In the absence of bad faith on its part, Escrow Agent undertakes may conclusively rely on a notice of instruction that is furnished to perform only such Escrow Agent that conforms to the requirements of this Agreement. In performing any of its duties as are expressly set forth herein and no duties shall be implied. The hereunder, Escrow Agent shall have no not incur any liability under to anyone for any damages, losses or expenses except for willful default or breach of trust, and no duty it shall accordingly not incur any such liability with respect to inquire any action taken or omitted in reliance upon any instrument, including any written notice or instruction provided for in this Agreement, not only as to its due execution and the provisions validity and effectiveness of any agreement other than this Escrow Agreement. The its provisions, contained therein, but which the Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it in good faith believe to be genuine and genuine, to have been signed or presented by the a proper party person or parties. The Escrow Agent shall be under no duty persons and to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance conform with the advice or opinion provisions of any such counsel, accountants or other skilled personsthis Agreement. In the event that any party disputes a proposed disbursal by Escrow Agent and Escrow Agent is unable to resolve the dispute, Escrow Agent may tender the Escrowed Funds into a court Escrow Agent deems to be of competent jurisdiction which shall discharge Escrow Agent of all further duties and liabilities hereunder or under this Agreement. Seller and Buyer hereby agree to indemnify and hold harmless Escrow Agent against any and all losses, claims, and counsel fees and disbursements which may be imposed upon Escrow Agent or incurred by Escrow Agent hereunder and attributable to the acts of such party, except those arising from willful default or breach of trust by Escrow Agent or the performance of its duties hereunder, including any litigation arising from this Agreement or involving the subject matter hereof. Seller and Buyer have no obligation to indemnify Escrow Agent for the acts of any other party. The total fees charged by Escrow Agent hereunder shall be paid from the Escrow Agent Amount. Such fees shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of not exceed the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing investment fee normally charged by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable Escrowee for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actioninvested client funds.

Appears in 3 contracts

Samples: Environmental Escrow Agreement (Centerpoint Properties Trust), Escrow Agreement (Prime Group Realty Trust), Environmental Escrow Agreement (Prime Group Realty Trust)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Notwithstanding anything to the contrary, Escrow Agent has no knowledge of, nor any obligation to comply with, the terms and conditions of any other agreement, Escrow Agent shall have no liability under and no duty to inquire as to not be responsible for determining the provisions meaning of any agreement capitalized term not entirely defined herein, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which Any notice, document, instruction or request delivered by a Party but not contemplated under this Agreement may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted disregarded by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The ESCROW AGENT SHALL NOT BE LIABLE FOR ANY ACTION TAKEN, SUFFERED OR OMITTED TO BE TAKEN BY IT IN GOOD FAITH EXCEPT TO THE EXTENT THAT ESCROW AGENT'S FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT WAS THE CAUSE OF ANY DIRECT LOSS TO EITHER PARTY. Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent shall be uncertain uncertain, or believes there is some ambiguity, as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, which in its opinion, Escrow Agent’s judgment conflict with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled to either to: (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given (i) a joint written direction executed by all Authorized Representatives of the other parties hereto Parties which eliminates such ambiguity or conflict or (ii) a court order issued by a final order or judgment of a court of competent jurisdictionjurisdiction (it being understood that Escrow Agent shall be entitled conclusively to rely and act upon any such court order and shall have no obligation to determine whether any such court order is final); or (b) file an action in interpleader. Anything in this Escrow Agreement Agent shall have no duty to solicit any payments which may be due it or the contrary notwithstandingAccounts, in no event shall including, without limitation, the Escrow Amount nor shall Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever amounts deposited with it hereunder. The Parties grant to Escrow Agent a lien and security interest in the Escrow Amount in order to secure any indemnification obligations of the Parties or obligation for fees or expenses owed to Escrow Agent hereunder. ANYTHING IN THIS AGREEMENT TO THE CONTRARY NOTWITHSTANDING, IN NO EVENT SHALL ESCROW AGENT BE LIABLE FOR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND WHATSOEVER (including but not limited to lost profitsINCLUDING BUT NOT LIMITED TO LOST PROFITS), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionEVEN IF ESCROW AGENT HAS BEEN ADVISED OF THE LIKELIHOOD OF SUCH LOSS OR DAMAGE AND REGARDLESS OF THE FORM OF ACTION.

Appears in 2 contracts

Samples: Asset Transfer Agreement (Zurn Water Solutions Corp), Asset Transfer Agreement (Zurn Water Solutions Corp)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement, nor shall the Escrow Agent be required to determine if any Person has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. Notwithstanding the terms of any other agreement other than between the Parties, the terms and conditions of this Agreement will control the actions of the Escrow AgreementAgent. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction Joint Release Instruction or request Final Determination furnished to it hereunder and reasonably believed by it in good faith to be genuine and to have been signed or and presented by an authorized signer of the proper party Party or partiesParties. Concurrent with the execution of this Agreement, the Parties shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit A-1 and Exhibit A-2. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request; provided, however, that the Escrow Agent may not act upon instruction by either the Sponsor or the Parent alone where Joint Written Instruction is required as provided hereunder. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsProperty. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party either Party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by a Joint Release Instruction or Final Determination or (b) interplead all of the assets held hereunder into, or may seek other parties hereto judicial relief or by a final order or judgment of orders from, a court of competent jurisdiction, and the Escrow Agent shall act in accordance with any such judicial relief or court order. The Escrow Agent may consult with legal counsel of its selection in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or its duties hereunder. The Escrow Agent will not be liable for any action taken, suffered or omitted to be taken by it in good faith except to the extent that the Escrow Agent’s fraud, gross negligence or willful misconduct was the direct cause of any loss to either Party. To the extent practicable, the Parties agree to pursue commercially reasonable redress or recourse in connection with any dispute without making the Escrow Agent a party to the same. Anything in this Escrow Agreement to the contrary notwithstanding, except in the case of the Escrow Agent’s fraud, in no event shall the Escrow Agent be liable liable, for any special, indirect indirect, punitive, incidental or consequential loss losses or damage damages of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss losses or damage damages and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Tattooed Chef, Inc.), Escrow Agreement (Forum Merger II Corp)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which payments, dividends or other profits in respect of the Escrow Property that may be due it or the Escrow Funddue. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith it, except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer or DepositorAssignee. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto Assignee or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Matlinpatterson LLC), Escrow Agreement (Matlinpatterson LLC)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or partiesIssuer and Depositor. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to (i) refrain from taking any action and its sole obligation shall be to keep other than keeping safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto Issuer and the Depositor or by a final order or judgment of a court of competent jurisdiction, or (ii) deliver the Escrow Fund to a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Subscription Escrow Agreement, Securities Purchase Agreement (Resonant Inc)

Escrow Agent. The Escrow Agent undertakes In performing its duties under this Agreement or upon the claimed failure to perform only such its duties as are expressly set forth herein and no duties shall be implied. The hereunder, Escrow Agent shall have no liability under liability, except for its acts of recklessness, fraud, willful misconduct or gross negligence. Escrow Agent’s sole responsibility shall be for the safekeeping and disbursement of the Escrow Amount and the Diamond Y Escrow Amount in accordance with the terms of this Agreement. Escrow Agent shall have no duty to inquire as to the provisions implied duties or obligations and shall not be charged with knowledge or notice of any agreement other than fact or circumstance not specifically set forth herein or in any notice given to it under this Escrow Agreement in accordance with Section 12 of this Agreement. The Escrow Agent may shall be entitled to rely upon and shall not be liable for acting or refraining from protected in acting upon any written noticerequest, instruction instructions, statement or request furnished other instrument, not only as to it hereunder its due execution, validity and believed by it effectiveness, but also as to the truth and accuracy of any information contained therein, which Escrow Agent shall in good faith believe to be genuine and genuine, to have been signed or presented by the proper party person or partiesParties purporting to sign the same and to conform to the provisions of this Agreement. The In no event shall Escrow Agent be liable for incidental, indirect, special, consequential or punitive damages. Escrow Agent shall not be under obligated to take any legal action or to commence any proceeding in connection with the Escrow Amount or any account in which the Escrow Amount and the Diamond Y Escrow Amount is deposited or this Agreement, or to appear in, prosecute or defend any such legal action or proceedings. Escrow Agent may consult legal counsel selected by it in the event of any dispute or question as to the construction of any of the provisions hereof or of any other agreement or of its duties hereunder, and shall incur no duty to inquire into liability and shall be fully protected from any liability whatsoever in acting in accordance with the opinion or investigate instruction of such counsel. Regency and HEP, jointly and severally, shall promptly pay upon demand the validity, accuracy or content reasonable fees and expenses of any such documentcounsel; provided, however, Regency and HEP agree that such fees and expenses shall be borne equally between Regency and HEP. The Escrow Agent shall have no duty to solicit any payments which may be due it obligations or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it responsibilities in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance connection with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Contribution Agreement, it shall be entitled to refrain from taking or any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of other agreement between the Parties, other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in than this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 2 contracts

Samples: Contribution Agreement, Contribution Agreement (Regency Energy Partners LP)

Escrow Agent. The Escrow Agent undertakes to perform only such duties duties, as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer or DepositorPlacement Agent. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Searchhelp Inc), Escrow Agreement (Marc Pharmaceuticals Inc)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Notwithstanding anything to the contrary, Escrow Agent has no knowledge of, nor any obligation to comply with, the terms and conditions of any other agreement, Escrow Agent shall have no liability under and no duty to inquire as to not be responsible for determining the provisions meaning of any agreement capitalized term not entirely defined herein, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent in connection with its role as escrow agent hereunder. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed in good faith by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which Any notice, document, instruction or request delivered by a Party but not required under this Agreement may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted disregarded by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The ESCROW AGENT SHALL NOT BE LIABLE FOR ANY ACTION TAKEN, SUFFERED OR OMITTED TO BE TAKEN BY IT IN GOOD FAITH EXCEPT TO THE EXTENT THAT ESCROW AGENT'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT WAS THE CAUSE OF ANY DIRECT LOSS TO EITHER PARTY. Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent Agent, in its good faith judgment, shall be uncertain uncertain, or believes there is some ambiguity, as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, which in its opinion, Escrow Agent’s good faith judgment conflict with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled to either to: (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given (i) a joint release instruction executed by all Authorized Representatives of each of the other parties hereto Parties which eliminates such ambiguity or conflict or (ii) a court order issued by a final order or judgment of a court of competent jurisdictionjurisdiction (it being understood that Escrow Agent shall be entitled conclusively to rely and act upon any such court order and shall have no obligation to determine whether any such court order is final); or (b) file an action in interpleader. Anything in this Escrow Agreement Agent shall have no duty to solicit any payments which may be due it or the contrary notwithstandingFund, in no event shall including, without limitation, the Escrow Deposit nor shall Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever amounts deposited with it hereunder. The Parties grant to Escrow Agent a lien and security interest in the Fund in order to secure any indemnification obligations of the Parties or obligation for fees or expenses owed to Escrow Agent hereunder. ANYTHING IN THIS AGREEMENT TO THE CONTRARY NOTWITHSTANDING, IN NO EVENT SHALL ESCROW AGENT BE LIABLE FOR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND WHATSOEVER (including but not limited to lost profitsINCLUDING BUT NOT LIMITED TO LOST PROFITS), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionEVEN IF ESCROW AGENT HAS BEEN ADVISED OF THE LIKELIHOOD OF SUCH LOSS OR DAMAGE AND REGARDLESS OF THE FORM OF ACTION; PROVIDED, HOWEVER, THAT THE FOREGOING SHALL NOT APPLY TO THE EXTENT SUCH LOSSES OR DAMAGES ARE CAUSED BY FRAUD OR WILLFUL MICSONDUCT OF ESCROW AGENT.

Appears in 2 contracts

Samples: Membership Interest Purchase Agreement (Callon Petroleum Co), Membership Interest Purchase Agreement (Callon Petroleum Co)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Ironwood Institutional Multi-Strategy Fund LLC), Escrow Agreement (Ironwood Multi-Strategy Fund LLC)

Escrow Agent. The Escrow Agent undertakes In performing its duties under this Agreement or upon the claimed failure to perform only such its duties as are expressly set forth herein and no duties shall be implied. The hereunder, Escrow Agent shall have no liability under except for its acts of recklessness, fraud, willful misconduct or gross negligence. Escrow Agent’s sole responsibility shall be for the safekeeping and disbursement of the Escrow Amount in accordance with the terms of this Agreement. Escrow Agent shall have no duty to inquire as to the provisions implied duties or obligations and shall not be charged with knowledge or notice of any agreement other than fact or circumstance not specifically set forth herein or in any notice given to it under this Escrow AgreementAgreement in accordance with Section 11 hereof. The Escrow Agent may shall be entitled to rely upon and shall not be liable for acting or refraining from protected in acting upon any written noticerequest, instruction instructions, statement or request furnished other instrument, not only as to it hereunder its due execution, validity and believed by it effectiveness, but also as to the truth and accuracy of any information contained therein, which Escrow Agent shall in good faith believe to be genuine and genuine, to have been signed or presented by the proper party person or partiesParties purporting to sign the same and to conform to the provisions of this Agreement. The In no event shall Escrow Agent be liable for incidental, indirect, special, consequential or punitive damages. Escrow Agent shall not be under obligated to take any legal action or to commence any proceeding in connection with the Escrow Amount or any account in which the Escrow Amount is deposited or this Agreement, or to appear in, prosecute or defend any such legal action or proceedings. Escrow Agent may consult legal counsel selected by it in the event of any dispute or question as to the construction of any of the provisions hereof or of any other agreement or of its duties hereunder, and shall incur no duty to inquire into liability and shall be fully protected from any liability whatsoever in acting in accordance with the opinion or investigate instruction of such counsel. Acquirer and Contributor, jointly and severally, shall promptly pay upon demand the validity, accuracy or content reasonable fees and expenses of any such documentcounsel; provided, however, Acquirer and Contributor agree that such fees and expenses shall be borne equally between Acquirer and Contributor. The Escrow Agent shall have no duty to solicit any payments which may be due it obligations or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it responsibilities in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance connection with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Contribution Agreement, it shall be entitled to refrain from taking or any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of other agreement between the Parties, other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in than this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 2 contracts

Samples: Contribution Agreement (Eagle Rock Energy Partners L P), Contribution Agreement (Regency Energy Partners LP)

Escrow Agent. The Escrow Agent undertakes has agreed to perform only act as such duties for the convenience of the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be impliedEscrow Agent. The Escrow Agent shall not be liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability or any instrument deposited with or delivered by Escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have no liability under been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequences of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed Escrow Agent to comply with said time limit; (e) for the default, error, action or omission of either party to the escrow. Escrow Agent, in its capacity as escrow agent, shall be entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and no duty to inquire genuine. In the event of any dispute as to the provisions disposition of any agreement other than this Escrow Agreement. The monies held in escrow, or of any documents held in escrow, Escrow Agent may rely upon may, if such Escrow Agent so elects, interplead the matter by filing an interpleader action in a court of competent jurisdiction in the county or circuit where the Real Properly is located (to the jurisdiction of which both parties do hereby consent), and shall not be liable for acting pay into the registry of the court such monies held by Escrow Agent, or refraining from acting upon deposit any written noticesuch documents with respect to which there is a dispute in the registry of such court, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The whereupon such Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of relieved and released from any such document. The further liability as Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fundhereunder. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause compliance with any legal process, subpoena, writ, order, judgment and decree of any loss to the Issuer court, whether issued with or Depositor. The Escrow Agent may execute any of its powers without jurisdiction, and perform any of its duties hereunder directly whether or through agents not subsequently vacated, modified, set aside or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale, Agreement of Purchase and Sale (Moody National REIT I, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a final adjudication of a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to either of the Issuer or DepositorParties. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personspersons except to the extent that a final adjudication of a court of competent jurisdiction determines that the Escrow Agent's gross negligence or willful misconduct was the primary cause of any loss to either of the Parties. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. The Escrow Agent may interplead all of the assets held hereunder into a court of competent jurisdiction or may seek a declaratory judgment with respect to certain circumstances, and thereafter be fully relieved from any and all liability or obligation with respect to such interpleaded assets or any action or nonaction based on such declaratory judgment. The parties hereto other than the Escrow Agent agree to pursue any redress or recourse in connection with any dispute without making the Escrow Agent a party to the same. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action. Escrow Agent may rely on the validity, accuracy and content of the statements contained any written notice, document, instruction, or request furnished to it hereunder by Party A and Party B without further investigation, inquiry or examination. For the avoidance of doubt, the Escrow Agent shall have no liability with respect to any provisions of this Escrow Agreement which set forth obligations or limitations of liability that the other parties to this Esrcrow Agreement have to each other. The Escrow Agent shall have no obligation to investigate, inquire, examine or assist in any manner whatsoever, the parties' compliance with the terms of this Escrow Agreement that incorporate by reference provisions of the Purchase Agreement that apply to the other parties' obligations or limitations of liability to each other that do not relate to obligations of the Escrow Agent under this Escrow Agreement.

Appears in 2 contracts

Samples: Escrow Agreement (Perficient Inc), Escrow Agreement (Perficient Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between Parent or Sponsor and any other person or entity, in connection herewith, if any, including without limitation the Merger Agreement or nor shall the Escrow Agent be required to inquire as to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Merger Agreement, any schedule or exhibit attached to this Agreement, or any other agreement between Parent or Sponsor and any other than person or entity, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party applicable person without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any beneficiary or partiesother person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Escrow Shares, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 10 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 10. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Shares nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (FS Development Corp.), Escrow Agreement (FS Development Corp.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be responsible only for the performance of the duties and obligations expressly imposed upon it under no duty this Agreement. Without prejudice to inquire into the generality of the foregoing sentence, the Parties confirm and agree that the Escrow Agent is not a party to the Management Indemnity Agreement, the SPA or investigate any other transaction document and, therefore, the validity, accuracy or content Escrow Agent is neither entitled nor obliged to review and verify compliance of any such Instruction under this Agreement with any transaction document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable obliged to verify the correctness of any calculations or the amounts presented by the Sellers’ Claims Representative in any Instruction. The Escrow Agent shall act with professional care when performing its obligations under this Agreement. To the extent allowed by the applicable laws, the Sellers' Claims Representative agrees to indemnify and hold the Escrow Agent harmless against and with respect to, any and all losses, liabilities, damages, or expenses (including, without limitation, reasonable attorneys’ fees and costs), except for any action taken lost profit, that the Escrow Agent may suffer or omitted by it incur in good faith connection with the entering into this Agreement and the performance of its obligations under this Agreement or otherwise in connection with this Agreement, except to the extent that any such loss, liability, damage or expense arises from a court breach of competent jurisdiction determines that the Escrow Agent’s obligations hereunder or the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositormisconduct. The Escrow Agent, acting with due professional care, may accept, and rely on, any signed notice, instruction, judgement or other document received by it under this Agreement that appears to have been executed by the Sellers’ Claims Representative or any Eligible Manager as the case may be, required hereunder to sign it, as conclusive evidence of the facts and of the validity of the instructions stated in it and as having been duly authorized, executed and delivered, need not to make enquiry in relation thereto and may accept as such, and rely on, without enquiry to any document purporting to be such notice, instruction or other document. Notwithstanding anything in this Agreement, the Escrow Agent may execute shall verify that the documents on the basis of which it shall distribute any of its powers and perform any of its duties hereunder directly funds from the Escrow Account appear to be the documents described in this Agreement. The Escrow Agent, acting with due professional care, shall not be responsible or through agents or attorneys (and shall be liable only for the careful selection sufficiency, correctness, genuineness or validity of any notice or other document received, or for the form of execution of such agent notice or attorney) and may consult with counselother document, accountants and other skilled persons to be selected and retained by or for the identity or authority or right of any person or party executing or giving it. The Escrow Agent shall have no obligation to verify the authority of the Sellers’ Claims Representative to represent the Sellers under or in connection with this Agreement. The Escrow Agent is entitled to terminate this Agreement by a written notice delivered to the Sellers’ Claims Representative, with a notice period of at least thirty (30) Business Days and such termination is not be liable for anything done, suffered or omitted in good faith by it in accordance with effective until a new agent is appointed to carry out the advice or opinion rights and obligations of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructionsunder this Agreement. For the avoidance of doubts, claims or demands from any party hereto which, in its opinion, conflict with any the Parties agree and state that the delivery of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing termination written notice by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent to the Sellers’ Claims Representative shall be liable sufficient vis-à-vis the Sellers for special, indirect or consequential loss or damage the termination of any kind whatsoever (including but not limited to lost profits), even if this Agreement by the Escrow Agent has been advised pursuant to the previous sentence and, therefore, delivery of the likelihood termination written notice to all Sellers shall not be required for such a termination by the Escrow Agent. The Escrow Agent shall procure that during the term of this Agreement no other funds are deposited on the Escrow Account – any such loss or damage and regardless received funds are to be returned to the account from which they were transferred. The Parties acknowledge that information regarding this Agreement will be registered in the Electronic Registry of Escrows, maintained by the form of actionCzech Bar Association.

Appears in 2 contracts

Samples: Management Indemnity Escrow Agreement, Management Indemnity Escrow Agreement

Escrow Agent. The duties and responsibilities of the Escrow Agent undertakes shall be limited to perform only such duties as are those expressly set forth herein and no in the Agreement. No implied duties shall be implied. The of the Escrow Agent shall be read into this Agreement and the Escrow Agent shall not be subject to, or obliged to recognize any other agreement between, or direction or instruction of, Depositor even though reference thereto may be made herein. In the event all or any part of the Escrow Fund shall be attached, garnished or levied upon pursuant to any court order, or the delivery thereof shall be stayed or enjoined by a court order, or any other order, judgment or decree shall be made or entered by any court affecting the Escrow Fund or any part thereof, Escrow Agent is hereby expressly authorized to obey and comply with all final writs, orders, judgments or decrees so entered or issued by any court; and, if Escrow Agent obeys or complies with such writ, order, judgment or decree, it shall not be liable to Depositor or to any other party by reason such compliance. Escrow Agent shall not be liable to anyone for any damages, losses or expenses incurred as a result of any act or omission of Escrow Agent, unless such damages, losses or expenses are caused by Escrow Agent’s willful default or gross negligence. Escrow Agent shall not incur any such liability with respect to (i) any action taken or omitted in good faith upon the advice of counsel given with respect to any question relation to the duties under this Agreement or (ii) any action take or omitted in reliance upon any instrument, including any written notice or instruction provided for herein, not only as to its due execution by an authorized person and as to the validity and effectiveness of such instrument, but also as to the truth and accuracy of any information contained therein that Escrow Agent shall in good faith believe to be genuine, to have no liability under been signed by a proper person or persons and no duty to inquire as conform to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon consult with legal counsel of its own choosing and shall not be liable for fully protected in acting or refraining from acting upon in good faith and in accordance with the opinion of such counsel. The Escrow Agent shall not be responsible for the sufficiency or accuracy, or the form, execution, validity or genuineness, of documents or securities now or hereafter deposited or received hereunder, or of any written noticeendorsement thereon, instruction or request furnished for any lack of endorsement thereon, or for any description therein, nor shall it be responsible or liable on account of the identity, authority or rights of any person executing, depositing or delivering or purporting to execute, deposit or deliver any such document, security or endorsement, nor shall the Escrow Agent be liable for any mistake of fact or of law or any error of judgment, or for any act or omission, except as a result of its gross negligence or willful malfeasance. The Escrow Agent’s liability for any grossly negligent performance or nonperformance shall not exceed its fees and charges in connection with the services provided hereunder. Under no circumstances shall Escrow Agent be liable for consequential damages or for loss, liability, or delay caused by accidents, strikes, fire, flood, war, riot, equipment breakdown, electrical or mechanical failure, acts of God or any cause which is reasonably unavoidable or beyond its reasonable control. In the event of a dispute between the parties hereto sufficient in the discretion of Escrow Agent to justify its doing so, Escrow Agent shall be entitled at the expense of the Escrow Fund to tender the Escrow Fund into the registry or custody of any court of competent jurisdiction, to initiate such legal proceedings at the expense of the Escrow Fund as it hereunder deems appropriate, and believed by it thereupon to be genuine discharged from all further duties and liabilities under this Agreement. Any such legal action may be brought in any such court as Escrow Agent shall determine to have been signed or presented by jurisdiction over the proper party or partiesEscrow Fund. The filing of any such legal proceedings shall not deprive Escrow Agent of its compensation hereunder earned prior to such filing. Escrow Agent shall be under no duty to inquire into take any legal action in connection with this Agreement or investigate the validitytowards it enforcement, accuracy or content of to appear in, prosecute or defend any such documentaction or legal proceeding that would result in or might it to incur any costs, expenses, losses or liability, unless and until it shall be indemnified with respect thereto in accordance with this Agreement. The Escrow Agent shall have no duty responsibility for the preparation and/or filing of any tax or information return with respect to solicit any payments which may be due it transaction, whether or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Deposit Agreement (City National Rochdale High Yield Alternative Strategies Master Fund LLC), Escrow Deposit Agreement (Rochdale Core Alternative Strategies Fund LLC)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the First Lien Credit Agreement and the Second Lien Credit Agreement (collectively, the “Underlying Agreements”), nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with any Underlying Agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of any Underlying Agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of any Underlying Agreements, any schedule or exhibit attached to the provisions Agreement, or any other agreement among the Parties, the terms and conditions of any agreement other than this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Lifetime Brands, Inc), Credit Agreement (Lifetime Brands, Inc)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein herein, which shall be deemed purely ministerial in nature, and no duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement, nor shall the Escrow Agent be required to determine if any Person has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request Joint Release Instruction furnished to it hereunder and believed by it to be genuine and to have been signed or and presented by the proper party Party or partiesParties. Concurrent with the execution of this Agreement, the Parties shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit A-1 and Exhibit A-2 attached hereto. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or to the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party Party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow the Escrow Fund until it shall be directed otherwise in writing by a Final Determination. The Escrow Agent may interplead all of the other parties hereto or by a final order or judgment of assets held hereunder into a court of competent jurisdictionjurisdiction or may seek a declaratory judgment with respect to certain circumstances, and thereafter be fully relieved from any and all liability or obligation with respect to such interpleaded assets or any action or non-action based on such declaratory judgment. The Escrow Agent may consult with legal counsel of its selection in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or its duties hereunder. The Escrow Agent shall have no liability or obligation with respect to the Escrow Fund except for the Escrow Agent’s bad faith, willful misconduct or gross negligence. To the extent practicable, the Parties agree to pursue any redress or recourse in connection with any dispute (other than with respect to a dispute involving the Escrow Agent) without making the Escrow Agent a party to the same. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable liable, directly or indirectly, for any (a) damages, losses or expenses arising out of the services provided hereunder, other than damages, losses or expenses which result from the Escrow Agent’s bad faith, gross negligence or willful misconduct, or (b) special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), other than in connection with the Escrow Agent’s bad faith, gross negligence or willful misconduct, even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Temporary Escrow Agreement (Horizon Pharma, Inc.), Transaction Agreement and Plan of Merger (Horizon Pharma, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Escrow Agent shall have has no liability under knowledge of, nor any obligation to comply with, the terms and no duty to inquire as to the provisions conditions of any other agreement between the Parties, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement between the Parties, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which Any notice, document, instruction or request delivered by a Party but not required under this Agreement may be due it or disregarded by the Escrow FundAgent. The Escrow Agent shall not be liable for any action taken taken, suffered or omitted to be taken by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any direct loss to the Issuer or Depositoreither Party. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent shall be uncertain uncertain, or believes there is some ambiguity, as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, which in its opinion, Escrow Agent’s judgment conflict with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled to either to: (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given (i) a joint written direction executed by all Authorized Representatives of the other parties hereto Parties which eliminates such conflict or (ii) court order issued by a final order or judgment of a court of competent jurisdictionjurisdiction (it being understood that the Escrow Agent shall be entitled conclusively to rely and act upon any such court order and shall have no obligation to determine whether any such court order is final); or (b) file an action in interpleader. Escrow Agent shall have no duty to solicit any payments which may be due it or the Fund, including, without limitation, the Escrow Deposit nor shall the Escrow Agent have any duty or obligation to confirm or verify the accuracy or correctness of any amounts deposited with it hereunder. The Parties grant to the Escrow Agent a lien and security interest in the Fund in order to secure any indemnification obligations of the Parties or obligation for fees or expenses owed to the Escrow Agent hereunder. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action; provided however, that the foregoing shall not apply to the extent such loss or damage is caused by fraud on the part of Escrow Agent.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Spartan Motors Inc)

Escrow Agent. The In the event that either party to this Agreement makes demand upon Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The for tender of the Earnxxx Xxxey held by the Escrow Agent, Escrow Agent shall have no liability under and no duty to inquire as give written notice to the provisions other party as provided herein. Such notice shall be given in the manner provided in Paragraph 15. of this Agreement. If within three (3) business days following delivery of such notice, Escrow Agent has not received notice of any agreement objection to the disbursement of the Earnxxx Xxxey from the other than this Escrow Agreement. The party, Escrow Agent may rely upon and shall disburse the Earnxxx Xxxey in accordance with the instructions it has received. A party's failure to object to such disbursement shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it deemed to be genuine and a waiver of its right to have been signed or presented assert a claim against the other party to any Earnxxx Xxxey so disbursed, however, it shall relieve Escrow Agent of any liability for disbursing the funds by following this procedure. In the proper party or partiesevent any dispute should arise with regard to the Earnxxx Xxxey tendered to Escrow Agent as provided in Paragraph 2. The hereof, Escrow Agent shall be entitled to deposit the same with a federal court of competent jurisdiction in Nashville, Tennessee, and thereafter be relieved of all obligations under no duty to inquire into or investigate the validitythis Agreement. In performing any of its duties hereunder, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable incur any liability to any party for any action taken damage, loss or omitted by it in good faith expense, except for willful default, gross negligence, or breach of trust. Purchaser and Seller jointly and severally agree to the extent that a court of competent jurisdiction determines that indemnify and hold Escrow Agent harmless against any and all other losses, claims, damages, liabilities and expenses including, without limitation, reasonable attorneys' fees, which may be imposed upon the Escrow Agent’s gross negligence Agent or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The incurred by Escrow Agent may execute any of its powers and perform any in connection with the performance of its duties hereunder directly hereunder, except for willful default, gross negligence, or through agents or attorneys (breach of trust. As between Seller and shall be liable only for Purchaser, the careful selection of prevailing party in any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with action regarding the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it Earnxxx Xxxey shall be entitled to refrain recover from taking any action the other party all amounts which it has paid under its indemnity in the preceding sentence and its sole obligation shall further be entitled to keep safely recover all property held in escrow until it shall be directed otherwise in writing by all court costs and attorney's fees incurred with respect to the resolution of the other parties hereto dispute. The obligations of Seller and Purchaser under this Paragraph 24. shall survive the Closing of this transaction or by a final order or judgment any termination of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 2 contracts

Samples: Agreement of Sale (Correctional Properties Trust), Agreement of Sale (Correctional Properties Trust)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under not be entitled to any fees or compensation for its services as escrow agent hereunder. Escrow Agent shall be liable only to hold the Xxxxxxx Money, to invest same as provided for herein, and no duty to inquire as deliver same to the parties named herein in accordance with the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon Agent, as escrow agent, is acting in the capacity of a depository only, and shall not be liable or responsible to anyone for acting any damages, losses or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to expenses unless same shall be genuine and to have been signed or presented caused by the proper party gross negligence or partieswillful malfeasance of Escrow Agent. The In the event of any disagreement among any of the parties to this Agreement or among them or any of them and any other person, resulting in adverse claims and demands being made in connection with or for any Property involved herein or affected hereby, Escrow Agent shall be under no duty entitled to inquire into or investigate the validity, accuracy or content of refuse to comply with any such document. The claims or demands as long as such disagreement may continue, and in so refusing, shall make no delivery or other disposition of the Xxxxxxx Money then held by it under this Agreement, and in so doing Escrow Agent shall not become liable in any way for such refusal, and Escrow Agent shall be entitled to continue to refrain from acting until (a) the rights of adverse claimants shall have been finally settled by binding arbitration or finally adjudicated in a court assuming and having jurisdiction of the Seller's Initials: __________ Purchaser's Initials: __________ {O1117744;9} Property involved herein or affected hereby, or (b) all differences shall have been adjusted by agreement and Escrow Agent shall have no duty to solicit any payments which may be due it or been notified in writing of such agreement signed by the Escrow Fundparties hereto. The Further, Escrow Agent shall not be liable for have the right at any action taken or omitted time after a dispute between Seller and Purchaser has arisen, to pay the Xxxxxxx Money held by it in good faith except to the extent that a into any court of competent jurisdiction determines for payment to the appropriate party, whereupon Escrow Agent's obligations hereunder shall terminate. Seller and Purchaser agree that the status of Purchaser's counsel as Escrow Agent’s gross negligence Agent under this Agreement does not disqualify such law firm from representing the Purchaser in connection with this transaction and in any disputes that may arise between Seller and Purchaser concerning this transaction, including any dispute or willful misconduct was the primary cause of any loss controversy with respect to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionXxxxxxx Money.

Appears in 2 contracts

Samples: Real Estate Purchase Agreement, Real Estate Purchase Agreement (Florida Public Utilities Co)

Escrow Agent. The Escrow Agent undertakes referred to perform only in the definition thereof contained in Section 1.1 hereof has agreed to act as such duties for the convenience of the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be impliedEscrow Agent. The Escrow Agent shall not be liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have no liability under been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequence of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed Escrow Agent to comply with said time limit; or (e) for the default, error, action or omission of either party to the escrow. Escrow Agent, in its capacity as escrow agent, shall be entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and no duty to inquire genuine. In the event of any dispute as to the provisions disposition of the Deposit or any other monies held in escrow, or of any agreement other than this Escrow Agreement. The documents held in escrow, Escrow Agent may rely upon may, if such Escrow Agent so elects, interplead the matter by filing an interpleader action in a court of general jurisdiction in the county or circuit where the Real Property is located (to the jurisdiction of which both parties do hereby consent), and shall not be liable for acting pay into the registry of the court the Deposit, or refraining from acting upon deposit any written noticesuch documents with respect to which there is a dispute in the Registry of such court, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The whereupon such Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of relieved and released from any such document. The further liability as Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fundhereunder. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause 's compliance with any legal process, subpoena, writ, order, judgment and decree of any loss to the Issuer court, whether issued with or Depositor. The Escrow Agent may execute any of its powers without jurisdiction, and perform any of its duties hereunder directly whether or through agents not subsequently vacated, modified, set aside or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale (Brandywine Realty Trust), Agreement of Purchase and Sale (Brandywine Realty Trust)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall will be implied. The Escrow Agent shall will have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall will not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall will be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall will have no duty to solicit any payments which may be due it or the Escrow Fundit. The Escrow Agent shall will not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer Merilus USA or DepositorHolder. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall will be liable only for the careful selection of any such agent or attorney) and may consult with counsel, independent counsel and accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall will not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall will be uncertain as to its duties or rights hereunder or shall will receive instructions, claims or demands from any party hereto to this Escrow Agreement which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall will be entitled to refrain from taking any action and its sole obligation shall will be entitled to keep safely all property held in escrow until it shall will be directed otherwise in writing by all of the other parties hereto to this Escrow Agreement or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the 7 contrary notwithstanding, in no event shall will the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Golden Soil Inc), Agreement and Plan of Reorganization (Golden Soil Inc)

Escrow Agent. The Escrow Agent undertakes to perform only such duties duties, as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Subscription Escrow Agreement (PDC 2003 Drilling Program I), Subscription Escrow Agreement (PDC 2004-2006 Drilling Program)

Escrow Agent. The Escrow Agent undertakes to perform only such shall have no duties as are or responsibilities other than those expressly set forth herein and no duties in this Escrow Agreement. The Escrow Agent shall be impliedliable as a depository only and shall not be responsible or accountable for the correctness of any information set forth in any statements delivered to it including, without limitation, any disbursement notice delivered by the Party A pursuant to Section 5(a) or Section 5(b), shall not be required in any event to verify the correctness of any such statements and shall not be responsible for verifying compliance by the Party A with the requirements of Rule 506 of Regulation D, the rules and regulations thereunder or any other securities laws, rules or regulations, or the terms of any subscription agreement. The Escrow Agent shall be entitled to rely, without any investigation whatsoever, upon any communication received from the Party A, and the Escrow Agent shall be entitled to deem the signatories of any subscription agreement or any communication submitted to it hereunder as being those purported to be authorized to sign such communication on behalf of such party and shall be entitled to rely on the genuineness of the signatures of such signatories without inquiry and without sustaining evidence of any kind. The Escrow Agent shall have the right to consult with counsel and shall be fully protected and shall not be liable with respect to any action taken or omitted by the Escrow Agent in good faith and on advice of counsel, and shall be fully protected and shall not be liable for any error of judgments or for any act done or omitted by it in good faith, except for its own gross negligence or willful misconduct. The Escrow Agent shall have no liability under and no duty duties to inquire as to the provisions of any agreement other than anyone except those signing this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty the right to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly through agents, attorneys, custodians or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsnominees. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.addition:

Appears in 2 contracts

Samples: Escrow Agreement (UBS Managed Futures LLC (Aspect Series)), Form of Escrow Agreement (UBS Managed Futures LLC (Aspect Series))

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Notwithstanding anything to the contrary, Escrow Agent has no knowledge of, nor any obligation to comply with, the terms and conditions of any other agreement, Escrow Agent shall have no liability under and no duty to inquire as to not be responsible for determining the provisions meaning of any agreement capitalized term not entirely defined herein, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which Any notice, document, instruction or request delivered by a Party but not required under this Agreement may be due it or the disregarded by Escrow FundAgent. The Escrow Agent shall not be liable for any action taken taken, suffered or omitted to be taken by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any direct loss to the Issuer or Depositoreither Party. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent shall be uncertain uncertain, or believes there is some ambiguity, as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, which in its opinion, Escrow Agent’s judgment conflict with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled to either to: (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given (i) a joint written direction executed by all Authorized Representatives of the other parties hereto Parties which eliminates such ambiguity or conflict or (ii) a court order issued by a final order or judgment of a court of competent jurisdictionjurisdiction (it being understood that Escrow Agent shall be entitled conclusively to rely and act upon any such court order and shall have no obligation to determine whether any such court order is final); or (b) file an action in interpleader. Escrow Agent shall have no duty to solicit any payments which may be due it or the Fund, including, without limitation, the Escrow Deposit nor shall Escrow Agent have any duty or obligation to confirm or verify the accuracy or correctness of any amounts deposited with it hereunder. The Parties grant to Escrow Agent a lien and security interest in the Fund in order to secure any indemnification obligations of the Parties or obligation for fees or expenses owed to Escrow Agent hereunder. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Aytu Bioscience, Inc), Escrow Agreement (Aytu Bioscience, Inc)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement, nor shall the Escrow Agent be required to determine if any Person has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. Notwithstanding the terms of any other agreement other than between the Parties, the terms and conditions of this Agreement will control the actions of the Escrow AgreementAgent. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction Joint Release Instruction or request Final Determination furnished to it hereunder and reasonably believed by it in good faith to be genuine and to have been signed or and presented by an authorized signer of the proper party Party or partiesParties. Concurrent with the execution of this Agreement, the Parties shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit A-1 and Exhibit A-2. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request; provided, however, that the Escrow Agent may not act upon instruction by either the Parent or the Holder Representative alone where Joint Written Instruction is required as provided hereunder. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsProperty. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party either Party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by a Joint Release Instruction or Final Determination or (b) interplead all of the assets held hereunder into, or may seek other parties hereto judicial relief or by a final order or judgment of orders from, a court of competent jurisdiction, and the Escrow Agent shall act in accordance with any such judicial relief or court order. The Escrow Agent may consult with legal counsel of its selection in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or its duties hereunder. The Escrow Agent will not be liable for any action taken, suffered or omitted to be taken by it in good faith except to the extent that the Escrow Agent’s fraud, gross negligence or willful misconduct was the direct cause of any loss to either Party. To the extent practicable, the Parties agree to pursue commercially reasonable redress or recourse in connection with any dispute without making the Escrow Agent a party to the same. Anything in this Escrow Agreement to the contrary notwithstanding, except in the case of the Escrow Agent’s fraud, in no event shall the Escrow Agent be liable liable, for any special, indirect indirect, punitive, incidental or consequential loss losses or damage damages of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss losses or damage damages and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Tattooed Chef, Inc.), Escrow Agreement (Forum Merger II Corp)

Escrow Agent. The Escrow Agent’s duties pursuant to this Agreement are purely ministerial in nature, and the Escrow Agent undertakes shall incur no liability whatsoever except for its willful misconduct or gross negligence, so long as the Escrow Agent is acting in good faith. The Parties hereby release the Escrow Agent from any liability for any error of judgment or for any act done or omitted to perform only such be done by the Escrow Agent in the good faith performance of its duties hereunder and do each hereby indemnify the Escrow Agent against, and shall hold, save, and defend the Escrow Agent harmless from, any costs, liabilities, and expenses incurred by the Escrow Agent in serving as are expressly set forth herein Escrow Agent hereunder and no in faithfully discharging its duties shall be impliedand obligations hereunder. The Escrow Agent shall have no liability under and no duty is acting as a stakeholder only with respect to inquire the Xxxxxxx Money. If there is any dispute as to whether the provisions of any agreement other than this Escrow Agreement. The Agent is obligated to deliver the Xxxxxxx Money or as to whom the Xxxxxxx Money is to be delivered, the Escrow Agent may rely upon refuse to make any delivery and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished may continue to it hereunder and believed by it to be genuine and to have been signed or presented hold the Xxxxxxx Money until receipt by the proper party Escrow Agent of an authorization in writing, signed by Contributors and LMP, directing the disposition of the Xxxxxxx Money, or, in the absence of such written authorization, the Escrow Agent may hold the Xxxxxxx Money until a final determination of the rights of the Parties in an appropriate judicial proceeding. If such written authorization is not given, or partiesa proceeding for such determination is not begun, within thirty (30) days after notice to the Escrow Agent of such dispute, the Escrow Agent may bring an appropriate action or proceeding for leave to deposit the Xxxxxxx Money in a court of competent jurisdiction pending such determination. The Escrow Agent shall be under reimbursed for all costs and expenses of such action or proceeding, including reasonable attorneys’ fees and disbursements, by the Party determined not to be entitled to the Xxxxxxx Money. Upon making delivery of the Xxxxxxx Money in any of the manners herein provided, the Escrow Agent shall have no duty to inquire into further liability or investigate the validity, accuracy or content of any such documentobligation hereunder. The Escrow Agent shall have no duty to solicit any payments which may be due it or execute the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by Receipt attached hereto as Exhibit F in order to confirm that it in good faith except to has received the extent that a court of competent jurisdiction determines that Xxxxxxx Money and is holding the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it same on deposit in accordance with the advice provisions hereof. Following written notice from either Party setting forth the identity of the Party to whom such Xxxxxxx Money (or opinion portions thereof) are to be disbursed and further setting forth the specific section or paragraph of any this Agreement pursuant to which the disbursement of such counselXxxxxxx Money (or portions thereof) are being requested, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as disburse such Xxxxxxx Money pursuant to its duties or rights hereunder or shall receive instructionssuch notice; provided, claims or demands from any party hereto whichhowever, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the that Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever shall (including but not limited to lost profits), even if 1) promptly notify the counterparty that Escrow Agent has been advised of the likelihood received a request for disbursement, and (2) withhold disbursement of such loss Xxxxxxx Money for a period of fifteen (15) business days after receipt of such notice of disbursement and if Escrow Agent receives within said fifteen (15) business day period either (A) a written notice from the party that submitted the request for disbursement which notice countermands the earlier notice of disbursement, or damage (B) a written notice from the other party that conflicts with the request for disbursement given by the party submitting such request, then Escrow Agent shall withhold such disbursement until the parties can agree upon a disbursement of such Xxxxxxx Money. The Parties shall send to the other Parties, in each case pursuant to Section 13(d) herein, a duplicate copy of any written notice sent to Escrow Agent and regardless of the form of actionrequesting any such disbursement or countermanding a request for disbursement.

Appears in 2 contracts

Samples: Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer Company or DepositorDepositors. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Cur Media, Inc.), Escrow Agreement (Enumeral Biomedical Holdings, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties hereby accepts its designation as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it agrees to be genuine hold and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or disburse the Escrow FundFunds as herein provided. The Escrow Agent shall not be liable for any acts taken in good faith, shall only be liable for its willful default or gross negligence, and may, in its sole discretion, rely upon the oral or written notices, communications, orders or instructions given by the parties hereto. Escrow Agent’s only responsibility with respect to the Escrow Funds shall be to use its reasonable and diligent efforts to hold and to disburse the same in accordance with this Agreement. In the event of a dispute sufficient in the discretion of Escrow Agent to justify its doing so, Escrow Agent shall be entitled to tender the Escrow Funds into the registry or custody of any court of competent jurisdiction, together with such legal proceedings as it deems appropriate, and thereupon to be discharged from all further duties under this Agreement. Any such legal action taken may be brought in any such court as Escrow Agent shall determine to have jurisdiction thereof. Buyer and Seller hereby agree to indemnify and hold harmless Escrow Agent against any and all losses, claims, damages, liabilities and expenses, including, without limitation, reasonable costs of investigation and counsel fees and disbursements which may be imposed upon Escrow Agent or omitted incurred by it in good faith except to the extent that a court connection with its acceptance of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The this appointment as Escrow Agent may execute any of its powers and perform any hereunder or the performance of its duties hereunder directly including, without limitation, any litigation arising from this Agreement or through agents or attorneys (and shall be liable only for involving the careful selection of any such agent or attorney) and may consult with counselsubject matter hereof; provided, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything donehowever, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the if Escrow Agent shall be uncertain as to its duties found guilty of willful default or rights hereunder or shall receive instructionsgross negligence under this Agreement, claims or demands from any party hereto whichthen, in its opinionsuch event, conflict with any Escrow Agent shall bear all such losses, claims, damages and expenses. Escrow Agent shall be discharged from all further duties under this Agreement upon the disbursement of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionFunds as provided herein.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Cornerstone Healthcare Plus Reit, Inc.), Purchase and Sale Agreement (Cornerstone Growth & Income REIT, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein Agent's responsibility and no duties liability under this Agreement shall be impliedlimited as follows: (i) the Escrow Agent does not represent, warrant or guaranty to the holders of the Notes from time to time the performance of the Company or the Trustee; (ii) the Escrow Agent shall have no responsibility to the Company or the holders of the Notes or the Trustee from time to time as a consequence of performance or nonperformance by the Escrow Agent hereunder, except for any gross negligence or wilful misconduct of the Escrow Agent; (iii) the Company shall remain solely responsible for all aspects of the Company's business and conduct; and (iv) the Escrow Agent is not obligated to supervise, inspect or inform the Company or any third party of any matter referred to above. No implied covenants or obligations shall be inferred from this Agreement against the Escrow Agent, nor shall the Escrow Agent be bound by the provisions of any agreement beyond the specific terms hereof. Specifically and without limiting the foregoing, the Escrow Agent shall in no event have any liability in connection with its investment, reinvestment or liquidation, in good faith and in accordance with the terms hereof, of any funds or Marketable Securities held by it hereunder, including, without limitation any liability for any delay not resulting from gross negligence or wilful misconduct in such investment, reinvestment or liquidation, or for any loss of principal or income incident to any such delay. The Escrow Agent shall have no liability under and no duty be entitled to inquire as rely upon any judicial order or judgment, upon any written opinion of counsel or upon any certification, instruction, notice, or other writing delivered to it by the Company or the Trustee in compliance with the provisions of this Agreement without being required to determine the authenticity or the correctness of any agreement other than this Escrow Agreementfact stated therein or the propriety or validity of service thereof. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting act in reliance upon any written notice, instruction instrument comporting with the provisions of this Agreement or request furnished to it hereunder and signature believed by it to be genuine and may assume that any person purporting to have give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof has been signed or presented by the proper party or partiesduly authorized to do so. The Escrow Agent shall be under no duty may act pursuant to inquire into or investigate the validity, accuracy or content written advice of counsel chosen by it with respect to any such document. The Escrow Agent shall have no duty matter relating to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent this Agreement and (subject to SECTION 4(a)(ii)) shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any accordance with such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by itadvice. The Escrow Agent shall not be liable for anything donecalled upon to advise any party as to selling to retaining, suffered or omitted in good faith by it in accordance taking or refraining from taking any action with the advice or opinion of respect to, any such counsel, accountants securities or other skilled personsproperty deposited hereunder. In the event that of any ambiguity in the provisions of this Agreement with respect to any funds or property deposited hereunder, the Escrow Agent shall be uncertain as entitled to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict refuse to comply with any of and all claims, demands or instructions with respect to such funds or property, and the provisions of this Escrow AgreementAgent shall not be or become liable for its failure or refusal to comply with conflicting claims, it demands or instructions. The Escrow Agent shall be entitled to refrain from taking refuse to act until either any action and its sole obligation conflicting or adverse claims or demands shall be to keep safely all property held in escrow until it shall be directed otherwise in writing have been finally determined by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything jurisdiction or settled by agreement between the conflicting claimants as evidenced in this Escrow Agreement a writing, satisfactory to the contrary notwithstandingEscrow Agent, in no event shall or the Escrow Agent be liable for special, indirect shall have received security or consequential loss or damage of any kind whatsoever (including but not limited an indemnity satisfactory to lost profits), even if the Escrow Agent has been advised sufficient to save the Escrow Agent harmless from and against any and all loss, liability or expense which the Escrow Agent may incur by reason of its acting. The Escrow Agent may in addition elect in its sole option to commence an interpleader action or seek other judicial relief or orders as the likelihood Escrow Agent may deem necessary. No provision of such loss this Agreement shall require the Escrow Agent to expend or damage and regardless risk its own funds or otherwise incur any financial liability in the performance of the form any of actionits duties hereunder.

Appears in 2 contracts

Samples: Interest Escrow Agreement (Echostar DBS Corp), Escrow Agreement (Echostar DBS Corp)

Escrow Agent. The Escrow Agent undertakes hereby acknowledges receipt by Escrow Agent of the initial xxxxxxx money deposit paid by Buyer to perform only such duties as are expressly set forth herein be applied to the Purchase Price. Escrow Agent agrees to hold, keep and no duties shall be implieddeliver said initial deposit and all other sums delivered to it pursuant hereto including, without limitation, the additional deposit in accordance with their terms and provisions of this Agreement. The Escrow Agent shall have no liability under be liable only to hold said sums and no duty deliver the same to inquire as to the parties named herein in accordance with the provisions of any agreement other than this Escrow Agreement. The , it being expressly understood that by acceptance of this Agreement Escrow Agent may rely upon is acting in the capacity of a depository only and shall not be liable or responsible to anyone for acting any damages, losses or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to expenses unless same shall have been signed or presented caused by the proper party negligence or partieswillful misconduct of, or breach of this Agreement, by Escrow Agent. The In the event of any disagreement between Buyer and Seller resulting in any adverse claims and demands being made in connection with or for the monies involved herein or affected hereby, Escrow Agent shall be under no duty refuse to inquire into or investigate the validity, accuracy or content of comply with any such document. The claims or demands so long as such disagreement may continue; and in so refusing Escrow Agent shall have make no duty to solicit delivery or other disposition of any payments which may be due of the monies then held by it or under the Escrow Fund. The terms of this Agreement, and in so doing Escrow Agent shall not be become liable to anyone for any action taken or omitted by it such refusal; and Escrow Agent shall continue to refrain from acting until (a) the rights of the adverse claimants shall have been finally adjudicated in good faith except to the extent that a court of competent jurisdiction determines that of the Escrow Agent’s gross negligence monies involved herein or willful misconduct was the primary cause of any loss to the Issuer affected hereby, or Depositor. The (b) all differences shall have been adjusted by agreement between Seller and Buyer, and Escrow Agent may execute any shall have been notified in writing of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for such agreement signed by the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by itparties hereto. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith disburse any of the monies held by it under this Agreement unless in accordance with either a joint written instruction of Buyer and Seller or an Escrow Demand from either Buyer or Seller in accordance with the advice provisions hereinafter set forth. Upon receipt by Escrow Agent from either Buyer or opinion Seller (the “Notifying Party”) of any such counselnotice or request (the “Escrow Demand”) to perform any act or disburse any portion of the monies held by Escrow Agent under the terms of this Agreement, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as give written notice to its duties the other party (the “Notified Party”). If within seven (7) days after the giving of such notice, Escrow Agent does not receive any written objection to the Escrow Demand from the Notified Party, Escrow Agent shall comply with the Escrow Demand. If Escrow Agent does receive written objection from the Notified Party in a timely manner, Escrow Agent shall take no further action until the dispute between the parties has been resolved pursuant to either clause (a) or rights (b) above. Further, Escrow Agent shall have the right at all times to pay all sums held by it into any court of competent jurisdiction after a dispute between or among the parties hereto has arisen, whereupon Escrow Agent’s obligations hereunder or shall receive instructionsterminate. Notwithstanding the foregoing, claims or demands from upon written request by Buyer at any party hereto which, in its opinion, conflict with any time prior to the expiration of the provisions Inspection Period, Buyer shall (without the consent or approval of this Escrow Agreement, it shall Seller) be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all the return of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in Deposit if Buyer terminates this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (KBS Real Estate Investment Trust, Inc.)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Company and the Investors, in connection herewith, if any, including without limitation the Distribution Agreement, nor shall the Escrow Agent be required to inquire as to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Distribution Agreement, any schedule or exhibit attached to this Agreement, or any other agreement other than among the Company and the Investors, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Company or partiesthe Distributor without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to the Company, the Distributor any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Escrow Account, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 11. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that Account, including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 2 contracts

Samples: Escrow Agreement, Escrow Agreement (Gabelli Go Anywhere Trust)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Stock Purchase Agreement, nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Stock Purchase Agreement, any schedule or exhibit attached to the provisions of any agreement other than this Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. Concurrent with the execution of this Agreement, the Representative and Buyer shall deliver a Certificate as to Authorized Signers substantially in the form of Schedule 2 to this Agreement to the Escrow Agent, which schedule may be executed in counterparts. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionDeposit.

Appears in 2 contracts

Samples: Escrow Agreement (Pharmaceutical Financial Syndicate, LLC), Escrow Agreement (Winston Pharmaceuticals, Inc.)

Escrow Agent. The Escrow Agent undertakes referred to perform only in the definition thereof ------------ contained in Paragraph 1.1 hereof has agreed to act as such duties for the convenience of the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow FundAgent. The Escrow Agent shall not be liable liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Agent or exchange by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequence of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed the Escrow Agent to comply with said time limit; (e) for the default, error, action taken or omitted by it in good faith except omission of either party to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositorescrow. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and genuine. It is agreed that the careful selection Escrow Agent shall not be disqualified from representing either party in connection with any litigation which might arise out or in connection with this Agreement, merely by virtue of the fact that such Escrow Agent has agreed to act as Escrow Agent hereunder. Further, in that event of any dispute as to the disposition of the Deposit, if any, or any other monies held in escrow, the Escrow Agent may, if such agent or attorney) Escrow Agent so elects, interplead the parties by filing an interpleader action in any court having subject matter jurisdiction of such a matter (to the personal jurisdiction of which both parties do hereby consent), and may consult with counselpay into the registry of the court the Deposit, accountants if any, and any other skilled persons to monies held in escrow, including all interest earned thereon, whereupon such Escrow Agent shall be selected relieved and retained by itreleased from any further liability as Escrow Agent hereunder. The In the event of such interpleader action, the Escrow Agent shall not be disabled from representing a party hereto. Escrow Agent shall not be liable for anything doneEscrow Agent's compliance with any legal process, suffered or omitted in good faith by it in accordance with the advice or opinion subpoena, writs, orders, judgments and decree of any such counselcourt, accountants whether issued with or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties without jurisdiction, and whether or rights hereunder not subsequently vacated, modified, set aside or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 2 contracts

Samples: Purchase Agreement (Hersha Hospitality Trust), Purchase Agreement (Hersha Hospitality Trust)

Escrow Agent. The Escrow Agent undertakes referred to perform only in the definition thereof ------------ contained in Section 1.1 hereof has agreed to act as such duties for the convenience of ----------- the parties without fee or other charges for such services as are expressly set forth herein and no duties shall be impliedEscrow Agent. The Escrow Agent shall not be liable: (a) to any of the parties for any act or omission to act except for its own willful misconduct; (b) for any legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by Escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent prepared such instrument; (c) for any loss or impairment of funds that have no liability under been deposited in escrow while those funds are in the course of collection, or while those funds are on deposit in a financial institution, if such loss or impairment results from the failure, insolvency or suspension of a financial institution; (d) for the expiration of any time limit or other consequence of delay, unless a properly executed written instruction, accepted by Escrow Agent, has instructed Escrow Agent to comply with said time limit; or (e) for the default, error, action or omission of either party to the escrow. Escrow Agent, in its capacity as escrow agent, shall be entitled to rely on any document or paper received by it, believed by such Escrow Agent, in good faith, to be bona fide and no duty to inquire genuine. In the event of any dispute as to the provisions disposition of the Deposit, the Deposit or any other monies held in escrow, or of any agreement other than this Escrow Agreement. The documents held in escrow, Escrow Agent may rely upon may, if such Escrow Agent so elects, interplead the matter by filing an interpleader action in a court of general jurisdiction in the county or circuit where the Leasehold Estate is located (to the jurisdiction of which both parties do hereby consent), and shall not be liable for acting pay into the registry of the court the Deposit, or refraining from acting upon deposit any written noticesuch documents with respect to which there is a dispute in the Registry of such court, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The whereupon such Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of relieved and released from any such document. The further liability as Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fundhereunder. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause 's compliance with any legal process, subpoena, writ, order, judgment and decree of any loss to the Issuer court, whether issued with or Depositor. The Escrow Agent may execute any of its powers without jurisdiction, and perform any of its duties hereunder directly whether or through agents not subsequently vacated, modified, set aside or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionreversed.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Patriot American Hospitality Operating Co\de), Purchase and Sale Agreement (Patriot American Hospitality Operating Co\de)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement, nor shall the Escrow Agent be required to inquire as to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Merger Agreement, any schedule or exhibit attached to this Agreement, or any other agreement other than among the Parties, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of any of the Funds, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 11. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that Funds, including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposits nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Creative Realities, Inc.), Agreement and Plan of Merger (Creative Realities, Inc.)

Escrow Agent. The (a) Escrow Agent undertakes will perform its obligations hereunder fairly and impartially according to perform only such duties the intent of the parties as are expressly set forth herein and no duties shall be implied. The expressed, provided however that Escrow Agent is to be considered as a depository only, shall have no liability under and no duty not be deemed to inquire as be a party to the provisions of any agreement document other than this Escrow Agreement. The Escrow Agent may rely upon , and shall not be responsible or liable in any manner whatsoever for acting the sufficiency or refraining from acting upon manner of execution, or validity or any written noticeinstructions, instruction certificates or request furnished any other documents received by it, nor as to it hereunder and believed by it to be genuine and to have been signed the identity, authority, or presented by rights or any persons executing the proper party or partiessame. The Escrow Agent shall be under no duty entitled to inquire into rely at all times on instructions given by STI, the STI Holders’ Agent and CTI, as the case may be and as required hereunder, without any necessity or investigate verifying the validityauthority thereof. STI, accuracy the STI Holders’ Agent and CTI acknowledge that Escrow Agent is counsel for STI and waive any potential conflict of interest in connection therewith. Notwithstanding the foregoing, in the event of a dispute hereunder between STI and CTI (or content of any such document. The its successors or assigns), in Escrow Agent’s discretion, Escrow Agent shall have no duty the right, exercisable in its sole discretion, to solicit any payments which may be due it or discharged by tendering the Escrow Fund. The Fund and any related funds held by Escrow Agent shall not be liable for any action taken unto the registry or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause custody of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction, together with any such legal pleadings as it deems appropriate. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable shall have the right to continue as counsel for special, indirect or consequential loss or damage of STI notwithstanding any kind whatsoever (including but not limited to lost profits), even if the action taken by Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionin accordance with this Agreement.

Appears in 2 contracts

Samples: Sti Closing Shares Escrow Agreement (Consonus Technologies, Inc.), Sti Closing Shares Escrow Agreement (Consonus Technologies, Inc.)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except and its liability hereunder shall be limited to the extent that a court of competent jurisdiction determines that the Escrow Agent’s liability for gross negligence or willful misconduct was on its part. The Company and the primary cause Purchasers agree to save harmless, and the Company agrees to indemnify and defend, the Escrow Agent for, from and against their respective share of any loss loss, damage, liability, judgment, cost and expense whatsoever, by reason of, or on account of, any misrepresentation made to the Issuer it or Depositor. The its status or activities as Escrow Agent may execute under this Agreement except for any loss, damage, liability, judgment, cost or expense resulting from gross negligence or willful misconduct on the part of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by itEscrow Agent. The Escrow Agent shall not be liable responsible for anything done, suffered any failure or omitted in good faith by it in accordance inability of any of the parties to perform or comply with the advice provisions of this Agreement, or opinion of any such counsel, accountants or other skilled personsthe agreements delivered in connection herewith. In the event that performance of its duties hereunder, the Escrow Agent shall be uncertain as entitled to its duties rely in good faith upon any document (including facsimile transmitted copies of documents), instrument or rights hereunder or shall receive instructions, claims or demands from signature believed by it in good faith to be genuine and to be signed by any party hereto whichor an authorized officer or agent thereof, and shall not be required to investigate the truth or accuracy of any statement contained in its opinion, conflict any such document or instrument. The Escrow Agent may assume in good faith that any person purporting to give any notice in accordance with any of the provisions of this Escrow Agreement, it shall be entitled hereof has been duly authorized to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties do so. Each party hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall acknowledges that (a) the Escrow Agent be liable for specialis not acting as legal counsel to such party in any manner or respect in connection with the transactions contemplated by this Agreement, indirect or consequential loss or damage of any kind whatsoever and (including but not limited to lost profits), even if b) the Escrow Agent has been advised of is serving as an accommodation to the likelihood of such loss or damage parties hereto. It is understood and regardless of further agreed that the form of action.Escrow Agent shall:

Appears in 2 contracts

Samples: Securities Purchase Agreement (Dynagen Inc), Securities Purchase Agreement (Dynagen Inc)

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Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Generator Interconnection Study Process Agreement (the “Underlying Agreement”), nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Underlying Agreement, any schedule or exhibit attached to the provisions Agreement, or any other agreement between the Parties, the terms and conditions of any agreement other than this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or parties. The Parties, and Escrow Agent shall be under have no duty of inquiry and no obligation to inquire into or investigate the validity, accuracy or content require substantiating evidence of any such documentkind. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counselDeposit, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 2 contracts

Samples: Escrow Agreement, Escrow Agreement

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer Purchaser or DepositorSeller. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Incentra Solutions, Inc.), Escrow Agreement (Far East Energy Corp)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer Company or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Escrow Agreement (Enumeral Biomedical Holdings, Inc.), Escrow Agreement (Atrinsic, Inc.)

Escrow Agent. The Selling Shareholders and Purchaser acknowledge that Escrow Agent undertakes to perform only such duties as are expressly set forth herein is merely a stakeholder, and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The that Escrow Agent shall not be liable for any action act or omission unless taken or omitted by it suffered in good faith except to the extent that a court bad faith, in willful disregard of competent jurisdiction determines that the Escrow Agent’s this Agreement or involving gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositornegligence. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything donethe failure of the institution(s) in which the Purchase Price has been deposited. Selling Shareholders and Purchaser agree to indemnify and hold Escrow Agent harmless from and against any reasonable costs, suffered claims or expenses incurred in connection with the performance of the Escrow Agent's duties hereunder, unless such costs, claims or expenses are occasioned by Escrow Agent's gross negligence, bad faith, or its willful disregard of this Agreement. Escrow Agent shall not be bound by any agreement between Selling Shareholders and Purchaser, whether or not Escrow Agent has knowledge thereof, and Escrow Agent's only duties and responsibilities shall be to hold, and to dispose of, the Purchase Price and Shares in accordance with this Agreement. Escrow Agent may consult with counsel, and any opinion of counsel shall be full and complete authorization and protection in respect to any action taken or omitted by Escrow Agent hereunder in good faith by it and in accordance with the advice reliance upon such opinion. All instructions or opinion of any such counsel, accountants or other skilled persons. In the event that notices given to the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict writing and delivered in accordance with any of the provisions requirements of this Escrow Agreement. For purposes of this paragraph, it such instructions and notices shall be entitled deemed delivered on the date of delivery, if by hand, or on the date of mailing if mailed, except that no instruction or notice to refrain from taking any action and its sole obligation Escrow Agent shall be deemed effectively delivered to keep safely all property held in escrow Escrow agent until it shall be directed otherwise in writing actual receipt thereof by all of the other parties hereto or by a final order or judgment of a court of competent jurisdictionEscrow Agent. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent may, but shall not be liable for specialrequired to, indirect or consequential loss or damage of represent Selling Shareholders in any kind whatsoever (including but not limited matter relating to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionthis Agreement.

Appears in 2 contracts

Samples: Capital Stock Purchase Agreement (Palomar Enterprises Inc), Capital Stock Purchase Agreement (Marketshare Recovery Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between Sponsor or IMC Parent and any other person or entity, in connection herewith, if any, including without limitation the Business Combination Agreement, nor shall the Escrow Agent be required to inquire as to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Business Combination Agreement, any schedule or exhibit attached to this Agreement, or any other agreement between Sponsor or IMC Parent and any other than person or entity, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party applicable person without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any beneficiary or partiesother person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Escrow Property, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 10 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 10. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Property nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Deerfield Healthcare Technology Acquisitions Corp.)

Escrow Agent. In performing its duties under this Agreement or upon the claimed failure to perform its duties hereunder, the Escrow Agent shall have no liability except for the Escrow Agent’s willful misconduct or gross negligence. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties Agent’s sole responsibility shall be impliedfor the safekeeping and disbursement of the Escrow Fund in accordance with the terms of this Agreement. The Escrow Agent shall have no liability under implied duties or obligations and no duty to inquire as to the provisions shall not be charged with knowledge or notice of any agreement other than fact or circumstance not specifically set forth herein or in any notice given to it under this Escrow AgreementAgreement in accordance with Section 12. The Escrow Agent may shall be entitled to rely upon and shall not be liable for acting or refraining from protected in acting upon any written noticerequest, instruction instructions, statement or request furnished other instrument, not only as to it hereunder its due execution, validity and believed by it effectiveness, but also as to the truth and accuracy of any information contained therein, which the Escrow Agent shall in good faith believe to be genuine and genuine, to have been signed or presented by the proper party person or parties. The Escrow Agent shall be under no duty Parties purporting to inquire into or investigate sign the validity, accuracy or content of any such document. The Escrow Agent shall have no duty same and to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except conform to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in In no event shall the Escrow Agent be liable for incidental, indirect, special, indirect consequential or consequential loss punitive damages. The Escrow Agent shall not be obligated to take any legal action or damage to commence any proceeding in connection with the Escrow Fund, any account in which the Escrow Fund is deposited or this Agreement, or to appear in, prosecute or defend any such legal action or proceedings. The Escrow Agent may consult legal counsel selected by it in the event of any kind dispute or question as to the construction of any of the provisions hereof or of any other agreement or of its duties hereunder, and shall incur no liability and shall be fully protected from any liability whatsoever (including but not limited to lost profits)in acting in accordance with the opinion or instruction of such counsel. The Purchaser and the Company, even if jointly and severally, shall promptly pay, upon demand, the reasonable fees and expenses of any such counsel; provided, however, the Purchaser and the Company agree that such fees and expenses shall be borne equally between the Purchaser and the Company. The Escrow Agent has been advised of shall have no obligations or responsibilities in connection with the likelihood of such loss Purchase Agreement, or damage and regardless of any other agreement between any other parties to the form of actionPurchase Agreement, other than this Agreement.

Appears in 1 contract

Samples: Earnest Money Escrow Agreement (Tri-S Security Corp)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement, including without limitation, the Merger Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments payments, which may be due it or the Working Capital Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction or arbitrator determines that the Escrow Agent’s 's bad faith, gross negligence or willful misconduct was the primary cause of any loss to Parent, the Issuer Stockholders or Depositorthe Stockholder Representative. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its reasonable opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdictionjurisdiction (with respect to which the time for filing an appeal or request for reconsideration has lapsed). Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Merrill Corp)

Escrow Agent. The In exercising the rights, duties and obligations prescribed or confirmed by this Agreement, Escrow Agent undertakes will act honestly and in good faith and will exercise that degree of care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. Vendor and Purchaser jointly and severally covenant and agree from time to perform only such duties as are expressly set forth herein time and no duties shall at all times hereafter well and truly to save, defend and keep harmless and fully indemnify Escrow Agent, its successors and assigns from and against all loss, costs, charges, suits, demands, claims, damages and expenses which Escrow Agent, its successors or assigns may at any time or times hereafter bear, sustain, suffer or be impliedput unto for or by reason or on account of its acting pursuant to this Agreement or anything in any manner relating thereto or by reason of Escrow Agent's compliance in good faith with the terms hereof. The In case proceedings should hereafter be taken in any court respecting the Proceeds, Escrow Agent shall will not be obliged to defend any such action or submit its rights to the court until it has been indemnified by other good and sufficient security in addition to the indemnity given in Clause 4.2 against its costs of such proceedings. Escrow Agent will have no liability under and no responsibility in respect of loss of the Proceeds except the duty to inquire exercise such care in the safekeeping thereof as it would exercise if the Proceeds belonged to the provisions of any agreement other than this Escrow AgreementAgent. The Escrow Agent may rely upon and shall act on the advice of counsel but will not be liable responsible for acting or refraining from acting failing to act on the advice of counsel. Escrow Agent will not be bound in any way by any contract between the other parties hereto whether or not it has notice thereof or of its terms and conditions and the only duty, liability and responsibility of Escrow Agent will be to hold the Proceeds as herein directed and to pay and deliver the same to such persons and other such conditions as are herein set forth. Escrow Agent will not be required to pass upon the sufficiency of any written notice or direction required or described in this Agreement whether or not the person or persons who have executed, signed or otherwise issued or authenticated the said documents have authority to so execute, sign or authorize, issue or authenticate the said documents or any of them, or that they are the same persons named therein or otherwise to pass upon any written noticerequirement of such instruments that may be essential for their validity, instruction or request furnished but it shall be sufficient for all purposes under this Agreement insofar as Escrow Agent is concerned that the said documents are delivered to it hereunder and believed by it to be genuine and to have been signed or presented as herein specified by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsparties executing this Agreement. In the event that the Proceeds are attached, garnished or levied upon under any court order, or if the delivery of the Proceeds is stayed or enjoined by any court order or if any court order, judgment or decree is made or entered affecting the Proceeds or affecting any act by Escrow Agent, Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto whichmay, in its opinionsole discretion, conflict obey and comply with all writs, orders, judgments or decrees so entered or issued, whether with or without jurisdiction, notwithstanding any provision of this Agreement to the contrary. If Escrow Agent obeys and complies with any such writs, orders, judgments or decrees, it will not be liable to any of the provisions parties hereto or to any other person, form or corporation by reason of this such compliance, notwithstanding that such writs, orders, judgments or decrees may be subsequently reversed, modified, annulled, set aside or vacated. Except as herein otherwise provided, Escrow Agreement, it shall be entitled Agent is authorized and directed to refrain from taking any action and disregard in its sole obligation shall discretion any and all notices and warnings which may be given to keep safely all property held in escrow until it shall be directed otherwise in writing by all any of the other parties hereto or by a final order any other person, firm, association or corporation. It will, however, obey the order, judgment or decree of any court of competent jurisdiction, and it is hereby authorized to comply with and obey such orders, judgments or decrees and in case of such compliance, it shall not be liable by reason thereof to any of the parties hereto or to any other person, firm, association or corporation, even if thereafter any such order, judgment or decree may be reversed, modified, annulled, set aside or vacated. If Escrow Agent receives any written instructions contrary to the instructions contained in this Agreement, Escrow Agent may continue to hold the Proceeds until the lawful determination of the issue between the parties hereto. If written notice of protest is made by either Purchaser or Vendor to Escrow Agent to any action contemplated by Escrow Agent under this Agreement, and such notice sets out reasons for such protest, Escrow Agent may continue to hold the Proceeds until the right thereto is legally determined by a court of competent jurisdictionjurisdiction or otherwise. Anything in Escrow Agent may resign as Escrow Agent by giving not less than 30 days' notice thereof to Purchaser and Vendor. Purchaser and Vendor may terminate Escrow Agent by giving not less than 30 days' notice to Escrow Agent. The resignation or termination of Escrow Agent will be effective and Escrow Agent will cease to be bound by this Agreement on the date that is 30 days after the date of receipt of the termination notice given hereunder or on such other date as Escrow Agent, Purchaser and Vendor may agree upon. All indemnities granted to Escrow Agent herein will survive the termination of this Agreement or the termination or resignation of Escrow Agent. Notwithstanding anything herein to the contrary, Escrow Agent may act upon any written instructions given jointly by Vendor and Purchaser. Notwithstanding anything to the contrary notwithstandingcontained herein, in no the event shall of any dispute arising between Purchaser and Vendor with respect to the Proceeds, this Agreement, the Convertible Debenture or the Private Placement Subscription Agreement, Escrow Agent may in its sole discretion deliver and interplead the Proceeds into court and such delivery and interpleading will be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited an effective discharge to lost profits), even if the Escrow Agent. It is understood that in addition to acting as Escrow Agent has been advised hereunder, Escrow Agent is also acting as solicitor for the Purchaser in this transaction and the parties have requested that Escrow Agent act in this capacity. FEES Vendor will each the compensation of Escrow Agent and will reimburse Escrow Agent for any and all reasonable expenses, disbursements and advances made by Escrow Agent in the likelihood performance of such loss its duties hereunder, including reasonable fees, expenses and disbursements incurred by its counsel. The obligation of Escrow Agent to deliver the Proceeds to Purchaser or damage Vendor pursuant to the terms of this Agreement are subject to the prior payment to Escrow Agent of all its costs and regardless of the form of actionexpenses herein including reasonable compensation for acting hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Ocean Ventures Inc)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow FundDeposit. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a final adjudication of a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to either of the Issuer or DepositorEscrow Parties. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. The Escrow Agent may interplead all of the assets held hereunder into a court of competent jurisdiction or may seek a declaratory judgment with respect to certain circumstances, and thereafter be fully relieved from any and all liability or obligation with respect to such interpleaded assets or any action or nonaction based on such declaratory judgment. The parties hereto other than the Escrow Agent agree to pursue any redress or recourse in connection with any dispute without making the Escrow Agent a party to the same. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Contribution Agreement (Copano Energy, L.L.C.)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall have has no liability under knowledge of, nor any requirement to comply with, the terms and no duty to inquire as to the provisions conditions of any other agreement between the Parties, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement between the Parties, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken taken, suffered or omitted to be taken by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any direct loss to the Issuer or Depositoreither Party. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, in its opinion, which conflict with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled either to (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given a joint written direction executed by all Authorized Representatives of the other parties hereto Parties which eliminates such conflict or by a final court order or judgment (b) file an action in interpleader. Escrow Agent shall have no duty to solicit any payments which may be due it or the Fund, including, without limitation, the Escrow Deposit nor shall the Escrow Agent have any duty or obligation to confirm or verify the accuracy or correctness of a court of competent jurisdictionany amounts deposited with it hereunder. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Asset Acquisition Agreement (Mesa Laboratories Inc /Co)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Agreement (nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement). In the event of any conflict between the terms and provisions of this Escrow Agreement, those of the Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorneyAccount(s) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Agreement and Release (J P Morgan Chase & Co)

Escrow Agent. The Escrow Agent undertakes to perform only such In performing any of its duties as are expressly set forth herein and no duties shall be implied. The hereunder, Escrow Agent shall have no not incur any liability under to anyone for any damages, losses or expenses, except for willful default or breach of trust, and no duty it shall accordingly not incur any such liability with respect (a) to inquire any action taken or omitted in good faith upon advice of its counsel or (b) to any action taken or omitted in reliance upon any instruments, including any written notice or instruction provided for in this Agreement, not only as to its due execution and the validity and effectiveness of its provisions, but also as to the provisions truth and accuracy of any agreement other than this Escrow Agreement. The information contained therein, which Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it in good faith believe to be genuine and genuine, to have been signed or presented by a proper person or persons and to conform with the proper party or partiesprovisions of this Agreement. The parties hereby agree to indemnify and hold harmless Escrow Agent against any and all losses, claims, damages, liabilities and expenses, including reasonable costs of investigations and counsel fees and disbursements, which may be imposed upon Escrow Agent or incurred by Escrow Agent in connection with its acceptance of the performance of its duties hereunder, including any litigation arising from this Agreement or involving the subject matter hereof except for willful default and breach of trust by Escrow Agent. In the event of a dispute between any of the parties hereto sufficient in the discretion of Escrow Agent to justify its doing so, Escrow Agent shall be under no duty entitled to inquire tender into the registry or investigate the validity, accuracy or content custody of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence all money or willful misconduct was the primary cause of any loss to the Issuer or Depositorproperty in its hands under this Agreement, and thereupon be discharged from all further duties and liabilities under this Agreement. The Escrow Agent may execute any of its powers Purchaser and perform any of its duties hereunder directly or through agents or attorneys (Seller shall bear all costs and shall be liable only for the careful selection expenses of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionlegal proceedings.

Appears in 1 contract

Samples: Agreement to Purchase (Southernbank Holdings Inc)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Escrow Agent shall have has no liability under knowledge of, nor any obligation to comply with, the terms and no duty to inquire as to the provisions conditions of any of the Underlying Agreements between the Company, the Lenders and/or the Administrative Agent, nor shall the Escrow Agent be required to determine if any Party has complied with any other agreement. Notwithstanding the terms of any other agreement other than between the Company, the Lenders and/or the Administrative Agent, the terms and conditions of this Agreement shall control the actions of the Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder delivered by each of the Company and the Administrative Agent believed by it to be genuine and to have been signed or presented by an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. Any notice, document, instruction or request delivered by the Parties but not required under this Agreement may be disregarded by the Escrow Agent and returned to the sending Party. The Escrow Agent shall not be liable for any action taken, suffered or omitted to be taken by it in good faith except to the extent that the Escrow Agent’s gross negligence, bad faith or willful misconduct was the cause of any direct loss to either the Company or the Administrative Agent. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through affiliates or agents. In the event the Escrow Agent shall be uncertain, or believes there is some ambiguity, as to its duties or rights hereunder, or receives instructions, claims or demands from any Party hereto that in the Escrow Agent’s judgment conflict with the provisions of this Agreement, or if the Escrow Agent receives conflicting instructions from the Company and the Administrative Agent, the Escrow Agent shall be entitled either to: (a) refrain from taking any action until it shall be given (i) a joint written direction executed by Authorized Representatives of the Company and the Administrative Agent (or only the Administrative Agent after its delivery of a Notice of Exclusive Control or an Administrative Agent Objection Certificate), that eliminates such conflict or (ii) a court order issued by a court of competent jurisdiction (it being understood that the Escrow Agent shall be entitled conclusively to rely and act upon any such court order and shall have no obligation to determine whether any such court order is final); or (b) file an action in interpleader. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that Account, including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and Deposit Amounts, nor shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as have any duty or obligation to its duties confirm or rights hereunder verify the accuracy or shall receive instructions, claims or demands from correctness of any party hereto which, in its opinion, conflict amounts deposited with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdictionhereunder. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action. The Escrow Agent shall have no responsibility or liability to Company for complying with written instructions or other written directives concerning the Escrow Account originated by the Administrative Agent as described in Section 5 and delivered to Escrow Agent in accordance with this Agreement.

Appears in 1 contract

Samples: Assignment and Acceptance (Amneal Pharmaceuticals, Inc.)

Escrow Agent. The If at any time, there shall exist any dispute between the Company and the Investor with respect to holding or disposition of any portion of the Escrow Funds or any other obligations of the Escrow Agent undertakes hereunder, or if at any time the Escrow Agent is unable to perform only determine, to the Escrow Agent's sole satisfaction, the proper disposition of any portion of the Escrow Funds or the Escrow Agent's proper actions with respect to its obligations hereunder, or if the parties have not within thirty (30) days of the furnishing by the Escrow Agent of a notice of resignation pursuant to Section 9 hereof, appointed a successor the Escrow Agent to act hereunder, then the Escrow Agent may, in its sole discretion, take either or both of the following actions: Suspend the performance of any of its obligations (including without limitation any disbursement obligations) under this Escrow Agreement until such duties as are expressly set forth herein and no duties dispute or uncertainty shall be impliedresolved to the sole satisfaction of the Escrow Agent or until a successor the Escrow Agent shall be appointed (as the case may be); provided however, that the Escrow Agent shall continue to invest the Escrow Funds in accordance with Section 8 hereof; and/or petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to the Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required by law, pay into such court, for holding and disposition in accordance with the instructions of such court, all funds held by it in escrow , after deduction and payment to the Escrow Agent of all fees and expenses (including court costs and attorneys' fees) payable to, incurred by, or expected to be incurred by the Escrow Agent in connection with performance of its duties and the exercise of its rights hereunder. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions Company, the Investor, or any person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by delay in the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content disbursement of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or funds held in the Escrow Fund. The Escrow Agent shall not be liable for Funds or any delay in with respect to any other action taken required or omitted by it in good faith except to the extent that a court requested of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Escrow Agreement (Smartire Systems Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Purchase Agreement (the “Underlying Agreement”), nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. In the event of any conflict relating to the rights and duties of Escrow Agent between the terms and provisions of this Escrow Agreement, those of the Underlying Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit,nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.amounts deposited with it

Appears in 1 contract

Samples: Release Agreement (Almost Family Inc)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except and its liability hereunder shall be limited to the extent that a court of competent jurisdiction determines that the Escrow Agent’s liability for gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositoron its part. The Issuer and the Purchaser agree to save harmless, indemnify and defend the Escrow Agent may execute for, from and against any loss, damage, liability, judgment, cost and expense whatsoever, by reason of, or on account of, any misrepresentation made to it or its status or activities as Escrow Agent under this Agreement except for any loss, damage, liability, judgment, cost or expense resulting from gross negligence or willful misconduct on the part of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by itEscrow Agent. The Escrow Agent shall not be liable responsible for anything done, suffered any failure or omitted in good faith by it in accordance inability of any of the parties to perform or comply with the advice provisions of this Agreement, or opinion of any such counsel, accountants or other skilled personsthe agreements delivered in connection herewith. In the event that performance of its duties hereunder, the Escrow Agent shall be uncertain as entitled to its duties rely in good faith upon any document (including facsimile transmitted copies of documents), instrument or rights hereunder or shall receive instructions, claims or demands from signature believed by it in good faith to be genuine and to be signed by any party hereto whichor an authorized officer or agent thereof, and shall not be required to investigate the truth or accuracy of any statement contained in its opinion, conflict any such document or instrument. The Escrow Agent may assume in good faith that any person purporting to give any notice in accordance with any of the provisions of this Escrow Agreement, it shall be entitled hereof has been duly authorized to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties do so. Each party hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall acknowledges that (a) the Escrow Agent be liable for specialis not acting as legal counsel to such party in any manner or respect in connection with the transactions contemplated by this Agreement, indirect or consequential loss or damage of any kind whatsoever and (including but not limited b) the Escrow Agent is serving as an accommodation to lost profits), even if the parties hereto. Each party further acknowledges that the Escrow Agent has been advised acted, and acts, as legal counsel in certain matter to the Company and X.X. Xxxxxx & Co., Inc. ("Xxxxxx") Each party hereto waives all claims in the nature of conflict of interest against the likelihood Escrow Agent and further agrees that in the event of such loss any dispute which arises hereunder, or damage otherwise between a party and regardless of the form of action.Company, the Escrow Agent shall be free to represent the Company. It is understood and further agreed that the Escrow Agent shall:

Appears in 1 contract

Samples: Securities Purchase Agreement (CSL Lighting Manufacturing Inc)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no not incur any liability under with respect to (i) any action taken or omitted to be taken in good faith upon advice of its counsel given with respect to any questions relating to its duties and no duty responsibilities or (ii) any action taken or omitted to inquire as to the provisions be taken in reliance upon any document, including any written notice of any agreement other than instruction provided in this Escrow Agreement. The , not only as to its due execution and the validity and effectiveness of its provisions, but also the truth and accuracy of any information contained therein, which Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it in good faith believe to be genuine and genuine, to have been signed or presented by a proper person or persons and to conform with the proper party or partiesprovisions of this Escrow Agreement. The Escrow Agent shall be under no duty not incur any liability for any loss or fund due to inquire into bank or investigate other depository failure, suspension or cessation of business or any action or inaction on the validity, accuracy part of the bank or content other depository. Escrow Agent is specifically authorized to refuse to act except upon the mutually compatible written instructions of any such documentExecutive and Company. The Parties covenant and agree that in performing any of its duties under this Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Agreement, Escrow Agent shall not be liable for any action taken loss, costs or omitted by damage which it may incur as a result of serving as Escrow Agent hereunder, except for any loss, costs or damage arising out of its willful default or gross negligence. In the event of a dispute between any of the Parties sufficient in good faith except the sole discretion of Escrow Agent to justify its doing so, Escrow Agent shall be entitled to tender into the extent that a registry or custody of any court of competent jurisdiction determines that the Escrow Agent’s gross negligence all money or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, property in its opinion, conflict with any of hands held under the provisions terms of this Escrow Agreement, together with such legal pleadings as it deems appropriate, and thereupon be discharged. Escrow Agent shall be entitled fully indemnified by the Parties for all its expenses, costs, and attorney’s fees incurred in connection with any interpleader action which Escrow Agent may file, in its sole discretion, to refrain resolve any dispute as to this Escrow Agreement, or which may be filed against the Escrow Agent. Escrow Agent’s estimate of such costs, expenses or attorney’s fees, may be deducted from taking the Deposit, and the Parties hereby authorize and direct Escrow Agent to sever said estimate from the Deposit and acknowledge and agree that the interpleaded amount shall be the Deposit minus said estimate. The undersigned Parties hereby agree that upon a final judgment of any action and its sole obligation with regard to a dispute as to this Escrow Agreement, Escrow Agent shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all reimbursed from the corpus of the other parties hereto amount interpleaded for any costs, expenses or by a final order or judgment attorney’s fees in excess of a court of competent jurisdiction. Anything in this Escrow Agreement the said severed and retained estimate, and will remit to the contrary notwithstandingparties to the action any excess amount remaining after payment of all Escrow Agent’s costs, expenses and attorney’s fees, in no event shall accordance with any directive contained within the Escrow Agent be liable final judgment. The Company and the Executive hereby consent to the Superior Court of Xxxx County, Georgia, as the venue for specialsaid interpleader action, indirect or consequential loss or damage of any kind whatsoever (including but not limited other civil action with regard to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionthis Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Adcare Health Systems, Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Purchase Agreement, nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. Solely with respect to the duties of the Escrow Agent, in the event of any conflict between the terms and provisions of this Escrow Agreement, those of the Purchase Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that Account, including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counselDeposit nor, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything doneexcept as expressly set forth herein, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Gamco Investors, Inc. Et Al)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement and the use of the proceeds withdrawn from the Escrow Fund by the Company pursuant to this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s 's gross negligence or willful misconduct was the primary cause of any loss to the Issuer Company or Depositorthe Noteholders. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Escrow Agreement (Probex Corp)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except and its liability hereunder shall be limited to the extent that a court of competent jurisdiction determines that the Escrow Agent’s liability for gross negligence or willful misconduct was on its part. The Company and the primary cause Purchaser agree to save harmless, indemnify and defend the Escrow Agent for, from and against their respective share of any loss loss, damage, liability, judgment, cost and expense whatsoever, by reason of, or on account of, any misrepresentation made to the Issuer it or Depositor. The its status or activities as Escrow Agent may execute under this Agreement except for any loss, damage, liability, judgment, cost or expense resulting from gross negligence or willful misconduct on the part of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by itEscrow Agent. The Escrow Agent shall not be liable responsible for anything done, suffered any failure or omitted in good faith by it in accordance inability of any of the parties to perform or comply with the advice provisions of this Agreement, or opinion of any such counsel, accountants or other skilled personsthe agreements delivered in connection herewith. In the event that performance of its duties hereunder, the Escrow Agent shall be uncertain as entitled to its duties rely in good faith upon any document (including facsimile transmitted copies of documents), instrument or rights hereunder or shall receive instructions, claims or demands from signature believed by it in good faith to be genuine and to be signed by any party hereto whichor an authorized officer or agent thereof, and shall not be required to investigate the truth or accuracy of any statement contained in its opinion, conflict any such document or instrument. The Escrow Agent may assume in good faith that any person purporting to give any notice in accordance with any of the provisions of this Escrow Agreement, it shall be entitled hereof has been duly authorized to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties do so. Each party hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall acknowledges that (a) the Escrow Agent be liable for specialis not acting as legal counsel to such party in any manner or respect in connection with the transactions contemplated by this Agreement, indirect or consequential loss or damage of any kind whatsoever and (including but not limited b) the Escrow Agent is serving as an accommodation to lost profits), even if the parties hereto. Each party further acknowledges that the Escrow Agent has been advised of acted, and acts, as legal counsel in certain matter to X.X. Xxxxxx & Co., Inc. ("Xxxxxx"). It is understood and further agreed that the likelihood of such loss or damage and regardless of the form of action.Escrow Agent shall:

Appears in 1 contract

Samples: Securities Purchase Agreement (Rom Tech Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement, nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. In the event of any conflict between the terms and provisions of this Escrow Agreement, those of the Merger Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Escrow Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 13 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence Amount or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counselFund Additions, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Alexion Pharmaceuticals Inc)

Escrow Agent. The Escrow Agent undertakes to shall perform only such duties as are expressly set forth herein in this Agreement and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement and the Confidentiality Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon in accordance with any written notice, instruction or request furnished to it hereunder and reasonably believed by it to be genuine and to have been signed or presented by the proper party or partiesparties hereto. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund; provided that in the event there is any Escrow Distribution, the Escrow Agent shall take reasonable efforts to collect any such payments or distributions. Any such collections shall be subject to Escrow Agent’s usual collection practices. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith faith, except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through reputable and authorized agents or attorneys who are also bound by the Confidentiality Agreement (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be reasonably selected and retained by it. The Escrow Agent shall not be liable for anything reasonably done, suffered or omitted in good faith by it in accordance with the written advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto the Depositor which, in its opinionopinion (with the advice of its legal counsel), conflict with any of the provisions of this Escrow Agreement, it shall be entitled contact the Depositor to refrain from taking any action clarify the same and its sole obligation shall be to keep safely and in accordance with this Agreement all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto Depositor or by a final order or judgment of a court of competent jurisdiction. In the event of any dispute between or conflicting claims by or among the Depositor and/or any other person or entity with respect to any Escrow Fund, Escrow Agent shall be entitled, in its reasonable discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Escrow Fund so long as such dispute or conflict shall continue, and Escrow Agent shall not be or become liable in any way to the Depositor for failure or refusal to comply with such conflicting claims, demands or instructions. Escrow Agent shall be entitled to refuse to act until, in its reasonable discretion, either (i) such conflicting or adverse claims or demands (other than any claims or demands to which the Escrow Agent is a party) shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order, judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to Escrow Agent or (ii) Escrow Agent shall have received security or an indemnity reasonably satisfactory to it sufficient to hold it harmless from and against any and all losses which it may incur by reason of so acting. Escrow Agent may, in addition, elect, in its reasonable discretion, to commence an interpleader action or seek other judicial relief or orders as it may deem, in its reasonable discretion, necessary. The costs and expenses (including reasonable and documented attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed an obligation of, the Depositor. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action; provided that the Escrow Agent shall remain liable for all such losses or damages arising out of the Escrow Agent’s gross negligence or act(s) of willful misconduct.

Appears in 1 contract

Samples: Escrow Agreement (MHR Institutional Partners IIA LP)

Escrow Agent. The Xxxxxxx Money shall be held by the Escrow Agent undertakes to perform only such duties as are expressly set forth herein until the Closing Date or sooner termination of this Agreement and no duties shall be implied. The Escrow Agent shall have no liability under pay over the interest or income earned thereon, if any, to the party entitled to the Xxxxxxx Money and no duty the party receiving such interest or income shall pay any income taxes due thereon. In the event the Closing shall occur in accordance with the provisions of this Agreement, then, Escrow Agent shall deliver the Xxxxxxx Money to inquire as Closing Authority. If, for any reason, the Closing does not occur pursuant to the provisions of any agreement other than this Agreement and either party makes a written demand upon Escrow Agreement. The Escrow Agent may rely upon and shall not be liable Agent, by registered or certified mail (return receipt optional), or Federal Express, for acting or refraining from acting upon any written noticethe payment of the Xxxxxxx Money, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The then Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it give written notice in accordance with the advice provisions hereof to the other party of the receipt of such demand. If Escrow Agent does not receive a written objection from the other party to the proposed payment of the Xxxxxxx Money pursuant to the demand within ten (10) days after the delivery of such notice by Escrow Agent, Escrow Agent is hereby authorized to make such payment in accordance with the aforesaid demand. If Escrow Agent receives written objection from the other party to the proposed payment of the Xxxxxxx Money pursuant to the aforesaid demand within such ten (10) day period or opinion of if, for any other reason, Escrow Agent in good faith shall elect not to make such counselpayment, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as continue to its duties hold the Xxxxxxx Money until otherwise directed by written instructions from Sellers and Purchaser or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything Escrow Agent, however, shall have the right at any time to deposit the Xxxxxxx Money with the clerk of any court of competent jurisdiction in the state where the Property is located, and Escrow Agent shall give written notice of such deposit to the Sellers and the Purchaser, and upon such deposit being made, Escrow Agent shall be discharged from all obligations and responsibilities hereunder. The parties acknowledge that Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent may act upon any writing believed by it in good faith to be genuine and to be signed and presented by the proper person, and that Escrow Agent shall not be liable to either of the parties for any act or omission on its part unless taken or suffered in bad faith, in willful disregard of this Agreement or involving gross negligence. Escrow Agent shall have no duties or responsibilities relating to escrow except as set forth in this paragraph. Escrow Agent shall not be bound by any modification of the Agreement to unless the contrary notwithstandingsame is in writing and signed by the Purchaser and Sellers and if Escrow Agent’s duties hereunder are affected, in no event unless Escrow Agent shall have given prior written consent thereto. The Sellers and Purchaser hereby jointly and severally indemnify and hold the Escrow Agent be liable for specialharmless from and against all costs, indirect or consequential loss or damage of any kind whatsoever claims and expenses (including but not limited to lost profits), even if reasonable attorney’s fees) incurred in connection with the performance by the Escrow Agent has been advised of its duties in accordance with the likelihood provisions of such loss or damage and regardless this Section of the form of actionthis Agreement.

Appears in 1 contract

Samples: Lease Agreement (Scansource Inc)

Escrow Agent. The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Escrow Agent shall have has no liability under knowledge of, nor any obligation to comply with, the terms and no duty to inquire as to the provisions conditions of any other agreement between the Parties, nor shall Escrow Agent be required to determine if any Party has complied with any other than agreement. Notwithstanding the terms of any other agreement between the Parties, the terms and conditions of this Agreement shall control the actions of Escrow AgreementAgent. The Escrow Agent may conclusively rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and delivered by the Parties believed in good faith by it to be genuine and to have been signed or presented by the proper party or parties. The an Authorized Representative(s), as applicable, without inquiry and without requiring substantiating evidence of any kind and Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which Any notice, document, instruction or request delivered by a Party but not required under this Agreement may be due it or disregarded by the Escrow FundAgent. The Escrow Agent shall not be liable for any action taken taken, suffered or omitted to be taken by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence negligence, fraud or willful misconduct (including, with respect to tax matters, the intentional and willful disregard of a reporting requirement as specified in Section 2(b) hereof was the primary cause of any direct loss to the Issuer or Depositoreither Party. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents affiliates or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled personsagents. In the event that the Escrow Agent shall be uncertain uncertain, or believes there is some ambiguity, as to its duties or rights hereunder or shall receive receives instructions, claims or demands from any party Party hereto which, which in its opinion, conflict Escrow Agent’s judgment in good faith conflicts with any of the provisions of this Escrow Agreement, it or if Escrow Agent receives conflicting instructions from the Parties, Escrow Agent shall be entitled to either to: (a) refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing given (i) a joint written direction executed by all Authorized Representatives of the other parties hereto Parties which eliminates such ambiguity or conflict or (ii) a Court Order (such Court Order will be accompanied by the documentation referenced in Section 3(b)(ii) above) (it being understood that the Escrow Agent shall be entitled conclusively to rely and act upon any such documentation referenced in Section 3(b)(ii) and shall have no obligation to review such Court Order or determine whether any such Court Order is final); or (b) file an action in interpleader. Escrow Agent shall have no duty to solicit any payments which may be due it or the Fund, including, without limitation, the Escrow Amount nor shall the Escrow Agent have any duty or obligation to confirm or verify the accuracy or correctness of any amounts deposited with it hereunder. The Parties grant to Escrow Agent a final lien and security interest in the Fund in order to secure any indemnification obligations of the Parties or judgment of a court of competent jurisdictionobligation for fees or expenses owed to Escrow Agent hereunder. Anything in this Escrow Agreement to the contrary notwithstanding, except to the extent of Escrow Agent’s fraud or willful misconduct, in no event shall the Escrow Agent be liable for special, incidental, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Unit Redemption Agreement (Mister Car Wash, Inc.)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of the Underlying Agreement or any other agreement, instrument or document between the Parties, in connection herewith, if any, nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with any Underlying Agreement, nor shall any additional obligations of the Escrow Agent be inferred from the terms of any Underlying Agreement, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of any Underlying Agreement, any schedule or exhibit attached to the provisions Agreement, or any other agreement among the Parties, the terms and conditions of any agreement other than this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Cobalt International Energy, Inc.)

Escrow Agent. The Escrow Agent undertakes hereby agrees to perform only such duties as are expressly set forth herein hold, keep and no duties shall be implieddeliver the Xxxxxxx Money in accordance with the terms and conditions of this Agreement. The Escrow Agent shall have no liability under not be entitled to any fees or other compensation for its services as Escrow Agent hereunder. Escrow Agent shall be liable only to hold the Xxxxxxx Money and no duty to inquire as deliver same to the parties named herein in accordance with the provisions of any agreement other than this Escrow Agreement. The , it being expressly understood that by its execution of this Agreement, Escrow Agent may rely upon is acting in the capacity of a depository only, and shall not be liable or responsible to anyone for acting any damages, losses or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to expenses unless same shall be genuine and to have been signed or presented caused by the proper party gross negligence or partieswillful malfeasance of Escrow Agent. The In the event of any disagreement among any of the parties to this Agreement, or among them or any of them and any other person, resulting in adverse claims and demands being made in connection with or for any property involved herein or affected hereby, Escrow Agent shall be under entitled to refuse to comply with any such claims or demands as long as such disagreement may continue, and in so refusing, shall make no duty to inquire into delivery or investigate the validity, accuracy or content other disposition of any property then held by it under this Agreement, and in so doing Escrow Agent shall not become liable in any way for such document. The refusal, and Escrow Agent shall be entitled to continue to refrain from acting until (i) the rights of adverse claimants shall have been finally settled by binding arbitration or finally adjudicated in a court assuming and having jurisdiction of the property involved herein or affected hereby or (ii) all differences shall have been adjusted by agreement and Escrow Agent shall have no duty to solicit any payments which may be due it or been notified in writing of such agreement signed by the Escrow Fundother parties hereto. The Further, the Escrow Agent shall not be liable for have the right at any action taken or omitted by it in good faith except time after a dispute between Seller and Purchaser has arisen, to pay the extent that a Xxxxxxx Money into any court of competent jurisdiction determines that for payment to the appropriate party, whereupon Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties 's obligations hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionterminate.

Appears in 1 contract

Samples: Ridgewood Hotels Inc

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Stock Purchase Agreement (each, an “Underlying Agreement”), nor shall the Escrow Agent be required to inquire as to determine if any person or entity has complied with any Underlying Agreement, nor shall any additional obligations of the Escrow Agent be inferred from the terms of any Underlying Agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of any Underlying Agreement, any schedule or exhibit attached to such Underlying Agreement, or any other agreement other than among the Parties, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Escrow Agreement

Escrow Agent. The duties and responsibilities of the Escrow Agent undertakes shall be limited to perform only such duties as are those expressly set forth herein and no in the Agreement. No implied duties shall be implied. The of the Escrow Agent shall be read into this Agreement and the Escrow Agent shall not be subject to, or obliged to recognize any other agreement between, or direction or instruction of, Depositor even though reference thereto may be made herein. In the event all or any part of the Escrow Fund shall be attached, garnished or levied upon pursuant to any court order, or the delivery thereof shall be stayed or enjoined by a court order, or any other order, judgment or decree shall be made or entered by any court affecting the Escrow Fund or any part thereof, Escrow Agent is hereby expressly authorized to obey and comply with all final writs, orders, judgments or decrees so entered or issued by any court; and, if Escrow Agent obeys or complies with such writ, order, judgment or decree, it shall not be liable to Depositor or to any other party by reason such compliance. Escrow Agent shall not be liable to anyone for any damages, losses or expenses incurred as a result of any act or omission of Escrow Agent, unless such damages, losses or expenses are caused by Escrow Agent’s willful default or gross negligence. Escrow Agent shall not incur any such liability with respect to (i) any action taken or omitted in good faith upon the advice of counsel given with respect to any question relation to the duties under this Agreement or (ii) any action taken or omitted in reliance upon any instrument, including any written notice or instruction provided for herein, not only as to its due execution by an authorized person and as to the validity and effectiveness of such instrument, but also as to the truth and accuracy of any information contained therein that Escrow Agent shall in good faith believe to be genuine, to have no liability under been signed by a proper person or persons and no duty to inquire as conform to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon consult with legal counsel of its own choosing and shall not be liable for fully protected in acting or refraining from acting upon in good faith and in accordance with the opinion of such counsel. The Escrow Agent shall not be responsible for the sufficiency or accuracy, or the form, execution, validity or genuineness, of documents or securities now or hereafter deposited or received hereunder, or of any written noticeendorsement thereon, instruction or request furnished for any lack of endorsement thereon, or for any description therein, nor shall it be responsible or liable on account of the identity, authority or rights of any person executing, depositing or delivering or purporting to execute, deposit or deliver any such document, security or endorsement, nor shall the Escrow Agent be liable for any mistake of fact or of law or any error of judgment, or for any act or omission, except as a result of its gross negligence or willful malfeasance. The Escrow Agent’s liability for any grossly negligent performance or nonperformance shall not exceed its fees and charges in connection with the services provided hereunder. Under no circumstances shall Escrow Agent be liable for consequential damages or for loss, liability, or delay caused by accidents, strikes, fire, flood, war, riot, equipment breakdown, electrical or mechanical failure, acts of God or any cause which is reasonably unavoidable or beyond its reasonable control. In the event of a dispute between the parties hereto sufficient in the discretion of Escrow Agent to justify its doing so, Escrow Agent shall be entitled at the expense of the Escrow Fund to tender the Escrow Fund into the registry or custody of any court of competent jurisdiction, to initiate such legal proceedings at the expense of the Escrow Fund as it hereunder deems appropriate, and believed by it thereupon to be genuine discharged from all further duties and liabilities under this Agreement. Any such legal action may be brought in any such court as Escrow Agent shall determine to have been signed or presented by jurisdiction over the proper party or partiesEscrow Fund. The filing of any such legal proceedings shall not deprive Escrow Agent of its compensation hereunder earned prior to such filing. Escrow Agent shall be under no duty to inquire into take any legal action in connection with this Agreement or investigate the validitytowards it enforcement, accuracy or content of to appear in, prosecute or defend any such documentaction or legal proceeding that would result in or might it to incur any costs, expenses, losses or liability, unless and until it shall be indemnified with respect thereto in accordance with this Agreement. The Escrow Agent shall have no duty responsibility for the preparation and/or filing of any tax or information return with respect to solicit any payments which may be due it transaction, whether or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Escrow Deposit Agreement (Rochdale International Trade Fixed Income Fund)

Escrow Agent. (a) Limitation of the Escrow Agent's Liability; ------------------------------------------- Responsibilities of the Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein Agent's responsibility and no duties ------------------------------------ liability under this Agreement shall be impliedlimited as follows: (i) the Escrow Agent does not represent, warrant or guaranty to the holders of the Notes from time to time the performance of the Company or the Trustee; (ii) the Escrow Agent shall have no responsibility to the Company or the holders of the Notes or the Trustee from time to time as a consequence of performance or nonperformance by the Escrow Agent hereunder, except for any gross negligence or willful misconduct of the Escrow Agent; (iii) the Company shall remain solely responsible for all aspects of the Company's business and conduct; and (iv) the Escrow Agent is not obligated to supervise, inspect or inform the Company or any third party of any matter referred to above. No implied covenants or obligations shall be inferred from this Agreement against the Escrow Agent, nor shall the Escrow Agent be bound by the provisions of any agreement beyond the specific terms hereof. Specifically and without limiting the foregoing, the Escrow Agent shall in no event have any liability in connection with its investment, reinvestment or liquidation, in good faith and in accordance with the terms hereof, of any funds or Temporary Cash Investments held by it hereunder, including without limitation any liability for any delay not resulting from gross negligence or willful misconduct in such investment, reinvestment or liquidation, or for any loss of principal or income incident to any such delay. The Escrow Agent shall have no liability under and no duty be entitled to inquire as rely upon any judicial order or judgment, upon any written opinion of counsel or upon any certification, instruction, notice, or other writing delivered to it by the Company or the Trustee in compliance with the provisions of this Agreement without being required to determine the authenticity or the correctness of any agreement other than this Escrow Agreementfact stated therein or the propriety or validity of service thereof. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting act in reliance upon any written notice, instruction instrument comporting with the provisions of this Agreement or request furnished to it hereunder and signature believed by it to be genuine and may assume that any person purporting to have give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof has been signed or presented by the proper party or partiesduly authorized to do so. The Escrow Agent shall be under no duty may act pursuant to inquire into or investigate the validity, accuracy or content written advice of counsel chosen by it with respect to any such document. The Escrow Agent shall have no duty matter relating to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent this Agreement and (subject to Section 4(a)(ii)) shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any accordance with such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by itadvice. The Escrow Agent shall not be liable for anything donecalled upon to advise any party as to selling or retaining, suffered or omitted in good faith by it in accordance taking or refraining from taking any action with the advice or opinion of respect to, any such counsel, accountants securities or other skilled personsproperty deposited hereunder. In the event that of any ambiguity in the provisions of this Agreement with respect to any funds or property deposited hereunder, the Escrow Agent shall be uncertain as entitled to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict refuse to comply with any of and all claims, demands or instructions with respect to such funds or property, and the provisions of this Escrow AgreementAgent shall not be or become liable for its failure or refusal to comply with conflicting claims, it demands or instructions. The Escrow Agent shall be entitled to refrain from taking refuse to act until either any action and its sole obligation conflicting or adverse claims or demands shall be to keep safely all property held in escrow until it shall be directed otherwise in writing have been finally deter- mined by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything jurisdiction or settled by agreement between the conflicting claimants as evidenced in this Escrow Agreement a writing, satisfactory to the contrary notwithstandingEscrow Agent, in no event shall or the Escrow Agent be liable for special, indirect shall have received security or consequential loss or damage of any kind whatsoever (including but not limited an indemnity satisfactory to lost profits), even if the Escrow Agent has been advised sufficient to save the Escrow Agent harmless from and against any and all loss, liability or expense which the Escrow Agent may incur by reason of its acting. The Escrow Agent may in addition elect in its sole option to commence an interpleader action or seek other judicial relief or orders as the likelihood Escrow Agent may deem necessary. No provision of such loss this Agreement shall require the Escrow Agent to expend or damage and regardless risk its own funds or otherwise incur any financial liability in the performance of the form any of actionits duties hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Omnipoint Corp \De\)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Merger Agreement, nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. In the event of any conflict between the terms and provisions of this Escrow Agreement, those of the Merger Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund, nor shall the Escrow Agent have any duty or obligation to confirm or verify the accuracy or correctness of any amounts deposited with it hereunder. The Escrow Agent shall not be liable for have no duty or obligation to make any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage calculations of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionhereunder.

Appears in 1 contract

Samples: Escrow Agreement (Pet DRx CORP)

Escrow Agent. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross 's negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Subscription Escrow Agreement (Shaffer Diverified Fund Lp)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no duties other duties, including but not limited to any fiduciary duty, shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Purchase Agreement and any ancillary agreements thereto (other than this Agreement) (collectively, the “Underlying Agreements”), nor shall the Escrow Agent be required to determine if any person or entity has complied with any Underlying Agreement, nor shall any additional obligations of the Escrow Agent be inferred from the terms of any Underlying Agreement, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement and any schedule or exhibit attached to this Agreement, on the one hand, and any Underlying Agreement or any other agreement among the Parties, on the other hand, in any such case with respect to the duties and obligations of the Escrow Agent (but not with respect to the duties and obligations of the Parties), the terms and conditions of this Agreement and any schedule or exhibit attached to this Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder in accordance with the terms hereof and reasonably believed by it to be genuine and to have been signed by an Authorized Representative(s), as applicable. The Escrow Agent shall not be liable to any Party, any beneficiary or presented by any other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the proper party transfer or partiesdistribution of the Escrow Amount, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 10 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required thereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAccount.

Appears in 1 contract

Samples: Stock Purchase Agreement (Forterra, Inc.)

Escrow Agent. The parties agree to execute the Escrow Agent undertakes to perform only such duties as are expressly set forth herein Agent’s standard form of Escrow Agreement and no duties shall be impliedshare equally the costs of escrow. The Escrow Agent’s form of escrow agreement shall govern the terms of the Exxxxxx Money deposit. Any execution of this Agreement by the Escrow Agent shall have no liability under is solely for purposes of evidencing the acknowledgment by said Escrow Agent of the receipt by it of the Exxxxxx Money specified in Section 3 hereinabove. Both Purchaser and no duty to inquire Seller acknowledge that the Escrow Agent is acting hereunder as a depository only to the provisions parties, and Purchaser and Seller, jointly and severally, do hereby agree to indemnify and hold harmless the Escrow Agent of and from any and all liabilities, costs, expenses and claims, of any agreement other than this Escrow Agreement. The nature whatsoever, by reason of or arising out of any act as Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written noticehereunder, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by except in the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content case of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was misconduct. All parties agree that the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable to any party or person whomsoever for anything done(i) the sufficiency, suffered correctness, genuineness or omitted in good faith validity of any instrument deposited with it or any notice or demand given to it or for the form of execution of such instrument, notice or demand, or for the identification, authority or rights of any person executing, depositing or giving the same or for the terms and conditions of any instrument, pursuant to which the parties may act; (ii) acting upon any signature, notice, demand, request, waiver, consent, receipt or other paper or document believed by Escrow Agent to be genuine and Escrow Agent may assume that any person purporting to give it any notice on behalf of any party in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent hereof has been advised duly authorized to do so, or (iii) otherwise acting or failing to act under this Section except in the case of the likelihood of such loss Escrow Agent’s gross negligence or damage and regardless of the form of actionwillful misconduct.

Appears in 1 contract

Samples: Commercial Sales Contract (Elevate.Money REIT I, Inc.)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have any requirements to comply with, the terms and conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Stock Purchase Agreement (except with respect to capitalized terms that are used herein as defined in the Stock Purchase Agreement), nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. Unless and until the Escrow Agent shall be notified in writing that an inconsistency or a conflict exists between this Agreement and the Stock Purchase Agreement, it shall be entitled to conclusively assume that no liability under and no duty to inquire such inconsistency or conflict exists. Notwithstanding the foregoing, as between the Parties, to the extent any terms and provisions of this Agreement are in any way inconsistent with or conflict with any term, condition or provision of the Stock Purchase Agreement, the Stock Purchase Agreement shall govern and control. As it pertains to the Escrow Agent, in the event of any conflict between the terms and provisions of this Agreement or any schedule or exhibit attached to this Agreement and those of the Stock Purchase Agreement or any other agreement other than among the Parties, the terms and conditions of this Escrow AgreementAgreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and reasonably believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. Concurrent with the execution of this Agreement, the Parties shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit X-0, Xxxxxxx X-0 and Schedule 1 to this Agreement. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Fund, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 11 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 11. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Amount nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Techteam Global Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein in this agreement on its part to be performed, which shall be deemed purely ministerial in nature, and no other duties or obligations of any kind shall be impliedimplied nor read into this Agreement against or on the part of the Escrow Agent. The Escrow Agent accepts the duties and responsibilities under this Agreement as agent only, and no trust is intended to be, or is or will be, created hereby and the Escrow Agent shall owe no duties hereunder as trustee. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty conditions of any other agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation, the Underlying Agreements, nor shall the Escrow Agent be required to inquire as determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Agreement. In the event of any conflict between the terms and provisions of this Agreement, those of the Underlying Agreements, any schedule or exhibit attached to this Agreement, or any other agreement among the Parties, the terms and conditions of this Agreement shall control only in connection with any matter related to the provisions of any agreement other than this Escrow AgreementAgent. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall not be liable to any Party, any beneficiary or other person for refraining from acting upon any instruction setting forth, claiming, containing, objecting to, or related to the transfer or distribution of the Escrow Asset, or any portion thereof, unless such instruction shall have been delivered to the Escrow Agent in accordance with Section 10 below and the Escrow Agent has been able to satisfy any applicable security procedures as may be required hereunder and as set forth in Section 10. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Asset nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Boston Beer Co Inc)

Escrow Agent. (a) The Escrow Agent undertakes to perform shall have only such those duties as are specifically and expressly set forth herein provided herein, which shall be deemed purely ministerial in nature, and no other duties shall be implied. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of, nor have no liability under any requirements to comply with, the terms and no duty to inquire as to the provisions conditions of any agreement other than agreement, instrument or document between the Parties, in connection herewith, if any, including without limitation the Purchase Agreement or the Letter Agreement, nor shall the Escrow Agent be required to determine if any person or entity has complied with any such agreements, nor shall any additional obligations of the Escrow Agent be inferred from the terms of such agreements, even though reference thereto may be made in this Escrow Agreement. In the event of any conflict between the terms and provisions of this Escrow Agreement, those of the Purchase Agreement or the Letter Agreement, any schedule or exhibit attached to the Escrow Agreement, or any other agreement among the Parties, the terms and conditions of this Escrow Agreement shall control. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, document, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party Party or partiesParties without inquiry and without requiring substantiating evidence of any kind. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document, notice, instruction or request. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that , including, without limitation, the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event Deposit nor shall the Escrow Agent be liable for special, indirect have any duty or consequential loss obligation to confirm or damage verify the accuracy or correctness of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionamounts deposited with it hereunder.

Appears in 1 contract

Samples: Letter Agreement (Rex Energy Corp)

Escrow Agent. The deposit has been paid by and on behalf and at the direction of SELLER to Xxxxxxx & Xxxxxxx, P.C. (“Escrow Agent”) to be held by Escrow Agent undertakes to perform only such duties as are expressly on the terms hereinafter set forth herein and no duties shall be impliedforth. The If the Closing takes place under this Agreement, Escrow Agent shall have pay the amount of monies deposited with Escrow Agent to or upon the instructions of SELLER at the time of Closing. If no Closing takes place hereunder, Xxxxxx Agent shall continue to hold the monies unless directed to dispose of same in accordance with the provisions hereinafter set forth in this clause. It is agreed that the duties of Escrow Agent are only such as are herein specifically provided, being purely ministerial in nature, and that Escrow Agent shall incur no liability under and no duty to inquire whatever except for willful misconduct or gross negligence so long as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon has acted in good faith. SELLER and shall not be liable for acting BUYER hereby release Escrow Agent from any act done or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it omitted to be genuine and to have been signed or presented done by Escrow Agent in good faith in the proper party or partiesperformance of Xxxxxx Agent’s duties hereunder. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content responsibility in respect of any of the monies deposited with it other than faithfully to follow the instructions herein contained. Escrow Agent may consult with counsel and shall be fully protected in any action taken in good faith, in accordance with such documentadvice. The Escrow Agent shall not be required to defend any legal proceedings that may be instituted against Escrow Agent in respect of the subject of these instructions unless requested so to do by SELLER and BUYER and indemnified to the satisfaction of Escrow Agent against the cost and expense of such defense. Escrow Agent shall not be required to institute legal proceedings of any kind. Escrow Agent shall have no duty responsibility for the genuineness or validity of any document or other item deposited with Escrow Agent, and shall be fully protected in acting in accordance with any written instructions given to solicit Escrow Agent hereunder and believed by Xxxxxx Agent to have been signed by the proper parties. Escrow Agent assumes no liability under this Agreement except that of a stakeholder. If there is any payments which dispute as to whether Xxxxxx Agent is obligated to deliver the escrow monies, or as to whom that sum is to be delivered, Xxxxxx Agent will not be obligated to make any delivery of the sum, but in such event may be due it hold the sum until receipt by Xxxxxx Agent of an authorization in writing signed by all persons having interest in such dispute, directing the disposition of the sum, or in the absence of such authorization. Escrow FundAgent may hold the sum until the final determination of the rights of the parties in an appropriate proceeding. The If such written authorization is not given, or proceedings for such determination are not begun and diligently continued, Escrow Agent is not required to bring an appropriate action or proceeding for leave to deposit the sum in court, pending such determination. In making delivery of the monies in the manner provided for in this Agreement, Escrow Agent shall not be liable for any action taken or omitted by it have no further liability in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositormatter. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for has executed this Agreement at the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons end thereof to be selected and retained by it. The confirm that Escrow Agent shall not be liable for anything doneis holding, suffered or omitted and will hold the monies in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as escrow pursuant to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdictionparagraph. Anything Nothing contained in this Escrow Agreement to the contrary notwithstanding, in no event shall the prevent Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionfrom representing SELLER in this transaction.

Appears in 1 contract

Samples: Purchase and Sale Agreement

Escrow Agent. (a) The Escrow Agent undertakes in its capacity as holder of the Deposit in escrow joins in the execution of this Agreement for the limited purpose of acknowledging and agreeing to perform only such the provisions of this Section 2.04. (b) The duties as are expressly set forth herein and no duties of the Escrow Agent shall be implied. as follows: (1) The Escrow Agent shall have no liability under hold and no duty to inquire as to disburse the Deposit in accordance with the terms and provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and (2) If this Agreement shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented terminated by the proper party mutual written agreement of Sellers and Buyer, or parties. The if the Escrow Agent shall be under no duty unable to inquire into determine at any time to whom the Deposit should be paid, or investigate if a dispute shall develop between Sellers and Buyer concerning to whom the validityDeposit should be paid and delivered, accuracy or content of then and in any such documentevent, the Escrow Agent shall pay and deliver such in accordance with the joint written instructions of Sellers and Buyer. The In the event that such written instructions shall not be received by the Escrow Agent within ten (10) days after the Escrow Agent has served a written request for instructions upon Sellers and Buyer, then the Escrow Agent shall have no duty the right to solicit any payments which may be due it or pay and deliver the Escrow Fund. The Deposit into an appropriate court of proper jurisdiction in the state of Florida, and interplead 16 Sellers and Buyer in respect thereof, and thereupon the Escrow Agent shall be discharged of any obligations in connection with this Agreement. (c) If costs or expenses are incurred by the Escrow Agent in its capacity as holder of the Deposit in escrow because of litigation or a dispute between Sellers and Buyer arising out of the holding of the Deposit in escrow, Sellers and Buyer shall each pay the Escrow Agent one-half of such reasonable costs and expenses not to exceed a total of $10,000.00. Except for such costs or expenses, no fee or charge shall be liable due and payable to the Escrow Agent for its services as escrow holder only. (d) By joining herein, the Escrow Agent undertakes only to perform the duties and obligations imposed upon the Escrow Agent under the terms of this Agreement and expressly does not undertake to perform any of the other covenants, terms and provisions incumbent upon Sellers and Buyer hereunder. (e) Buyer and Sellers hereby agree and acknowledge that the Escrow Agent assumes no liability in connection herewith except for its negligence or willful misconduct; that the Escrow Agent shall never be responsible for the validity, correctness or genuineness of any document or notice referred to under this Agreement; and that in the event of any dispute under this Agreement, the Escrow Agent may seek advice from its own legal counsel and shall be fully protected in any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or good faith opinion of any such its legal counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.Section 2.05

Appears in 1 contract

Samples: Purchase and Sale   Agreement

Escrow Agent. The Escrow Agent undertakes to perform only such duties duties, as are expressly set forth herein and no duties shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Escrow Agent’s Agent`s gross negligence or willful misconduct was the primary cause of any loss to the Issuer or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 1 contract

Samples: Subscription Escrow Agreement (PDC 2003 Drilling Program)

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