Common use of Expenses of Escrow Agent Clause in Contracts

Expenses of Escrow Agent. Escrow Agent’s expenses and fees shall be deducted from any interest accrued on the Escrow Deposit prior to the distribution of such accrued interest to the Company in accordance with this Section 8. Any expenses and fees of Escrow Agent in excess of the accrued interest, up to a maximum of Five Thousand Dollars ($5,000) on the Escrow Deposit shall be the responsibility of the Company and shall be paid promptly upon receipt of an invoice from Escrow Agent.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Wave Wireless Corp), Securities Purchase Agreement (Wave Wireless Corp)

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Expenses of Escrow Agent. Escrow Agent’s 's expenses and fees shall be deducted from any interest accrued on the Escrow Deposit prior to the distribution of such accrued interest to the Company in accordance with this Section 8. Any expenses and fees of Escrow Agent in excess of the accrued interest, up to a maximum of Five Thousand Dollars ($5,000) interest on the Escrow Deposit shall be the responsibility of the Company and shall be paid promptly upon receipt of an invoice from Escrow Agent.

Appears in 1 contract

Samples: Securities Purchase Agreement (P Com Inc)

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