Matters Relating to Escrow Agent. (a) The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the Withheld Amounts (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from Lender.
Appears in 3 contracts
Samples: Consent and Agreement (Pacific Ventures Group, Inc.), Consent and Agreement (Sack Lunch Productions Inc.), Secured Revolving Credit Facility Agreement (Tarsier Ltd.)
Matters Relating to Escrow Agent. (a) The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the Withheld Amounts Amount (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from Lender.
Appears in 2 contracts
Samples: Security Agreement (Drone USA Inc.), Senior Secured Revolving Credit Facility Agreement (Pulse Network, Inc.)
Matters Relating to Escrow Agent. (a) The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the UTC Withheld Amounts Amount and the Suntech Withheld Amount (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from Lender.
Appears in 1 contract
Samples: Credit Agreement (Blue Earth, Inc.)
Matters Relating to Escrow Agent. (a) The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the Withheld Amounts any Company Escrow Funds held by it hereunder (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from LenderBuyer.
Appears in 1 contract
Samples: Securities Purchase Agreement (American Natural Energy Corp)
Matters Relating to Escrow Agent. (ai) The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the DTC Withheld Amounts Amount (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from LenderBuyer.
Appears in 1 contract
Samples: Securities Purchase Agreement (Revolutions Medical CORP)
Matters Relating to Escrow Agent. (a) The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the PO Withheld Amounts Amount (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from Lender.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Facility Agreement (Gei Global Energy Corp.)
Matters Relating to Escrow Agent. (a) The a)The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. Escrow Agent agrees to hold the Withheld Amounts (the “Escrowed Property”) in a non-interest bearing account and to release same only in accordance with the terms and conditions set forth in this Agreement and only upon a written direction from Lender.
Appears in 1 contract
Samples: Consent and Agreement (Sack Lunch Productions Inc.)
