Release of Escrow Agent. The Escrow Agent may at any time resign hereunder by giving written notice of its resignation to Spacial, Xxxxxx and the Trust, at their addresses set forth in this Agreement, at least 30 days prior to the date specified for such resignation to take effect, and upon the effective date of such resignation, all property then held by the Escrow Agent hereunder shall be delivered by it to such person as may be designated by Spacial, Xxxxxx, or the Trust in writing, whereupon all the Escrow Agent's obligations hereunder shall cease and terminate. If no such person shall have been designated by such date, all obligations of the Escrow Agent hereunder shall nevertheless cease and terminate. The Escrow Agent's sole responsibility thereafter shall be to keep safely all property then held by it and to deliver the same to a person designated by Spacial, Xxxxxx and the Trust or in accordance with the directions of a final order or judgment of a court of competent jurisdiction.
Release of Escrow Agent. The retention and distribution of the Escrow Fund in accordance with the terms and provisions of this Agreement will fully and completely release Escrow Agent from all obligations or liabilities assumed under this Agreement with respect to the Escrow Fund.
Release of Escrow Agent. Except for Escrow Agent’s negligence, fraud or breach of contract, Escrow Agent shall not be held liable for the identity, authority or rights of any person executing any document deposited in the Escrow, or for Seller or Buyer’s failure to comply with any of the provisions of any agreement, contract or other instrument deposited in the Escrow and Escrow Agent’s duties hereunder shall be limited to the safekeeping of such money, instruments, or other documents received by Escrow Agent as escrow holder, and for the disposition of same in accordance with the written instructions accepted by Escrow Agent in the Escrow.
Release of Escrow Agent. Upon the Escrow Agent's fulfillment of its duties in accordance with the provisions of this Agreement, the Escrow Agent's duties and responsibilities will cease and the Escrow Agent will be released of all liability in connection with this Agreement and the Deposit.
Release of Escrow Agent. Upon making disposition of the Escrow Fund in accordance with this Agreement, Escrow Agent shall be deemed fully released and discharged from any and all duties and obligations under this Agreement, without the need that any other documentation be executed by Lessor and Lessee.
Release of Escrow Agent. Effective immediately upon disbursement of funds as contemplated by Section 2 hereof, the Company and Parent hereby (i) discharge the Escrow Agent from its duties under the Escrow Agreement and (ii) subject to such disbursement, release the Escrow Agent from any loss or claim whatsoever (including attorneys' fees) in conjunction with the performance of its duties under the Escrow Agreement. The Company and Parent acknowledge and agree that Section 7(b) of the Escrow Agreement shall survive the termination of such agreement by execution of this Release.
Release of Escrow Agent. The Escrow Agent may at any time resign hereunder by giving written notice of its resignation to all parties hereto in accordance with Section 5 of this Agreement, at least five business days prior to the date specified for such resignation to take effect, and upon the effective date of such resignation, all property then held by the Escrow Agent hereunder shall be delivered by it to such attorney, or firm of attorneys, or bank or trust as may be agreed upon and designated in writing, whereupon all of the Escrow Agent’s obligations hereunder shall cease and terminate and thereupon be fully discharged of all liability. If no such person shall have been designated by such date, all obligations of the Escrow Agent hereunder shall nevertheless cease and terminate. The Escrow Agent’s sole responsibility thereafter shall be to keep safely the Escrowed Property and deliver the same to such person designated in a binding directive by a court of competent jurisdiction, provided that, notwithstanding the foregoing, at any time the Escrow Agent may deposit any or all of the Escrowed Property with any court of competent jurisdiction in connection with an action in the nature of interpleader.
Release of Escrow Agent. If this Agreement or any matter relating hereto shall become the subject of any litigation or controversy, Purchaser and Seller agree, jointly and severally, to release and hold Escrow Agent free and harmless from any loss or expense, including attorneys' fees, that may be suffered by it by reason thereof, except for losses or expenses as may arise from Escrow Agent's negligent or willful misconduct or breach of trust. If conflicting demands are made or notices served upon Escrow Agent with respect to this Agreement, the parties expressly agree that Escrow Agent shall be entitled to file a suit in interpleader and obtain an order from the court requiring the parties to interplead and litigate their several claims and rights among themselves. Upon the filing of such an action, Escrow Agent shall be fully released and discharged from any obligations imposed upon it by this Agreement. Any such legal action may be brought in such court as Escrow Agent shall determine to have jurisdiction thereof. All costs of such proceedings, together with all reasonable attorneys' fees and costs incurred by Escrow Agent and the successful party or parties in connection therewith, shall be paid by the unsuccessful party or parties to such proceeding.
Release of Escrow Agent. The Parties and their heirs, legal representatives, successors, agents, assigns, hereby fully release, acquit, remise, and forever discharge the Escrow Agent (Xxxxxxxxx & Xxxxxx P.A. and its officers, directors, shareholders, agents and employees), and their heirs, legal representatives, successors, agents, assigns, officers, directors, stockholders, attorneys, insurance carriers, employees, affiliates, and partners, whether current or former, from any and all claims, demands, suits, debts, dues, contracts, accounts, agreements, promises, damages, interest, attorney’s fees and causes of action of whatever kind or nature, including all unknown, unforeseen, unanticipated and unsuspected claims or causes of action and the consequences thereof, as well as those now disclosed and known to exist, whether asserted or not asserted.
Release of Escrow Agent. Xxxxxxxxx and the Company agree that the Escrow Agent assumes no liability for and is expressly released from any claim or claims in connection with, but not limited to, its reception, retention or delivery (or redelivery, as the case may be) of any Shares of the Company subject to this Agreement. Xxxxxxxxx and the Company, jointly and severally, agree to indemnify and hold harmless the Escrow Agent from any and all claims that arise in connection with this Agreement including, but not limited to, its reception, retention, or delivery (or redelivery, as the case may be) of any Shares subject to this Agreement.
