Obligations of the Escrow Agent When Changed. Each new escrow agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as Escrow Agent, without any further assurance, conveyance, act or deed. As soon as it has been advised of the appointment of such new escrow agent, and subject to receipt by the Escrow Agent of all Escrow Fees including unbilled work-in-progress and expenses, the Escrow Agent will deliver to the new escrow agent the Escrowed Securities in its possession.
Obligations of the Escrow Agent When Changed. Each new escrow agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as Escrow Agent, without any further assurance, conveyance, act or deed. The Escrow Agent will deliver custody of the accounts containing the Escrow Fund to the new escrow agent as soon as it has been advised of the appointment of such new escrow agent; provided, however, that the Escrow Agent shall not release any escrowed property hereunder until all of its fees and expenses have been paid as contemplated in this Escrow Agreement.
Obligations of the Escrow Agent When Changed. Each new escrow agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as Escrow Agent without any further act or formality, and each of the former Escrow Agent and the successor escrow agent shall do all acts and things and execute all documents as may be necessary to give effect to the appointment of the successor escrow agent hereunder. Upon payment to the Escrow Agent of all fees and costs due to it under the terms of this Escrow Agreement, the Escrow Agent will deliver custody of the accounts containing the Escrowed Funds and any interest earned thereon to the new escrow agent as soon as it has been advised of the appointment of such new escrow agent.
