Common use of New Custodian Clause in Contracts

New Custodian. In the event of an appointment of a successor, upon the consummation of the Successor Transfer, the predecessor shall cease to be custodian of any funds, securities or other assets and records previously held by it pursuant to this Agreement, and the successor shall become such custodian.

Appears in 3 contracts

Sources: Commitment Agreement (Talarian Corp), Agreement With Certain Whitebarn Shareholders (Talarian Corp), Escrow Agreement (Lancashire Christopher W)

New Custodian. In the event of an appointment of a ------------- successor, upon the consummation of the Successor Transfer, the predecessor shall cease to be custodian of any funds, securities or other assets and records previously held by it may hold pursuant to this Escrow Agreement, and the successor shall become such custodian.

Appears in 2 contracts

Sources: Escrow Agreement (Cambridge Technology Partners Massachusetts Inc), Escrow Agreement (Cambridge Technology Partners Massachusetts Inc)

New Custodian. In the event of an appointment of a successor, upon the consummation of the Successor Transfer, the predecessor shall cease to be custodian of any funds, securities or other assets and records previously held by it may hold pursuant to this Escrow Agreement, and the successor shall become such custodian.

Appears in 2 contracts

Sources: Escrow Agreement (Technology Crossover Management Ii LLC), Escrow Agreement (Delano Technology Corp)

New Custodian. In the event of an appointment of a successor, upon the consummation of the Successor Transfer, the predecessor shall cease to be custodian Custodian of any funds, securities or other assets and records previously held by it may hold pursuant to this Escrow Agreement, and the successor shall become such custodianCustodian.

Appears in 1 contract

Sources: Escrow Agreement (Mossimo Inc)

New Custodian. In the event of an appointment of a successor, upon the consummation of the Successor Transfer, ------------- the predecessor shall cease to be custodian of any funds, securities or other assets and records previously held by it may hold pursuant to this Escrow Agreement, and the successor shall become such custodian.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Del Arroz Manuel)