Common use of Liability of Escrow Agent Clause in Contracts

Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations or any recitation contained in the Obligations.

Appears in 7 contracts

Samples: Escrow Agreement, Escrow Agreement, Escrow Agreement

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Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations or any recitation contained in the Obligations.

Appears in 4 contracts

Samples: Escrow Agreement, Escrow Agreement, Escrow Agreement

Liability of Escrow Agent. To the extent permitted by law, the The Escrow Agent shall not be liable for any act done mistakes of fact, or step taken errors of judgment, or omitted by it for any acts or any mistake of fact or law, except for its negligence or default or failure in the performance omission of any obligation imposed upon it hereunderkind unless caused by the bad faith, willful misconduct or gross negligence of the Escrow Agent. The Without limiting the foregoing, Escrow Agent shall not be responsible in liable for taking any manner for action which is dependent or conditioned upon the taking of any proceedings in connection with action by any person or entity other than the Obligations or any recitation contained in the ObligationsEscrow Agent including, without limitation, SoftLock's transfer agent.

Appears in 1 contract

Samples: Escrow Agreement (Softlock Com Inc)

Liability of Escrow Agent. To the extent permitted by law, the The Escrow Agent shall not be liable have no liability for any act anything done or step taken or omitted to be done by it or any mistake of fact or law, hereunder except for its gross negligence or default or failure in the performance of any obligation imposed upon it hereunderwillful misconduct. The Escrow Agent shall be under no duty to determine the truth or validity of any notice or instruction received by it hereunder, and it shall in no event be under any duty to determine whether any party hereto has or has not be responsible in performed their obligations under this Agreement. Notwithstanding any manner for any proceedings in connection with provisions to the Obligations or any recitation contrary contained in the Obligations.this Agreement:

Appears in 1 contract

Samples: Escrow Agreement (Kids Stuff Inc)

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Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its gross negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations Bonds or any recitation contained in the ObligationsBonds.

Appears in 1 contract

Samples: Escrow Agreement

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