Escrow Release after Default Clause Samples

Escrow Release after Default. In the event of an Event of Default which is not duly cured, the Escrow Agent, upon the written request of the Section 8 Seller, and upon five days written notice to the Corporation, shall be authorized to deliver the Escrowed Certificates to the Section 8 Seller who shall have all of the rights and obligations of a secured creditor specified in the New York Uniform Commercial Code, as amended from time to time. The remedies available to the Section 8 Seller under this subsection shall be in addition to any remedies available to the Section 8 Seller at law or in equity.