Common use of Release of Money or Other Property Upon Written Request Clause in Contracts

Release of Money or Other Property Upon Written Request. Upon the receipt by the Manager of a written request signed by a duly authorized officer of the Company requesting the Manager to release to the Company any money or other property then held by the Manager for the account of the Company under this Agreement, the Manager shall release such money or other property to the Company within a reasonable period of time, but in no event later than thirty (30) days following such request. Upon delivery of such money or other property to the Company, the Manager shall not be liable to the Company, the Board, or the Company’s shareholders for any acts or omissions by the Company in connection with the money or other property released to the Company in accordance with this Section 20. The Company shall indemnify the Manager and its Affiliates, and their respective directors, trustees, officers, shareholders, owners, members, managers, employees and personnel from and against any and all losses, damages, liabilities, demands, charges and claims of any nature whatsoever, including all reasonable attorneys’, accountants’ and experts’ fees and expenses, which arise in connection with the Manager’s proper release of such money or other property to the Company in accordance with the terms of this Section 20. Indemnification pursuant to this Section 20 shall be in addition to any right of the Manager to indemnification under Section 16 of this Agreement.

Release of Money or Other Property Upon Written Request. The Manager agrees that any money or other property of the Developer or any Subsidiary held by the Manager under this Agreement shall be held by the Manager as custodian for the Developer or any Subsidiary, and the Manager’s records shall be clearly and appropriately marked to reflect the ownership of such money or other property by the Developer. Upon the receipt by the Manager of a written request signed by a duly authorized officer of the Company Developer requesting the Manager to release to the Company Developer any money or other property then held by the Manager for the account of the Company Developer under this Agreement, the Manager shall release such money or other property to the Company Developer within a reasonable period of time, but in no event later than thirty (30) days following such request. Upon delivery of such money or other property to the CompanyThe Manager and its Affiliates, the Manager shall directors, officers, managers and employees will not be liable to the CompanyDeveloper, any Subsidiary, the BoardManager or any of their directors, officers, shareholders, managers, employees, owners or the Company’s shareholders partners for any acts or omissions by the Company Developer in connection with the money or other property released to the Company Developer in accordance with this Section 20the terms hereof. The Company Developer shall indemnify the Manager and its Affiliates, and their respective officers, directors, trustees, officers, shareholders, owners, Development and Risk Management Committee members, managersemployees, employees agents and personnel from successors and assigns against any and all expenses, losses, damages, liabilities, demands, charges and claims of any nature whatsoever, including all reasonable attorneys’, accountants’ and experts’ fees and expenses, whatsoever which arise in connection with the Manager’s proper release of such money or other property to the Company Developer in accordance with the terms of this Section 2016. Indemnification pursuant to this Section 20 16 shall be in addition to any right of the Manager to indemnification under Section 16 of this Agreement16.

Release of Money or Other Property Upon Written Request. The Manager agrees that any money or other property of the Company or any Subsidiary held by the Manager under this Agreement shall be held by the Manager as custodian for the Company or any Subsidiary, and the Manager’s records shall be clearly and appropriately marked to reflect the ownership of such money or other property by the Company. Upon the receipt by the Manager of a written request signed by a duly authorized officer of the Company requesting the Manager to release to the Company any money or other property then held by the Manager for the account of the Company under this Agreement, the Manager shall release such money or other property to the Company within a reasonable period of time, but in no event later than thirty (30) days following such request. Upon delivery of such money or other property to the CompanyThe Manager and its Affiliates, the Manager shall directors, officers, managers and employees will not be liable to the Company, any Subsidiary, the BoardManager or any of their directors, officers, shareholders, managers, employees, owners or the Company’s shareholders partners for any acts or omissions by the Company in connection with the money or other property released to the Company in accordance with this Section 20the terms hereof. The Company shall indemnify the Manager and its Affiliates, and their respective officers, directors, trustees, officers, shareholders, owners, Investment and Risk Management Committee members, managersemployees, employees agents and personnel from successors and assigns against any and all expenses, losses, damages, liabilities, demands, charges and claims of any nature whatsoever, including all reasonable attorneys’, accountants’ and experts’ fees and expenses, whatsoever which arise in connection with the Manager’s proper release of such money or other property to the Company in accordance with the terms of this Section 2016. Indemnification pursuant to this Section 20 16 shall be in addition to any right of the Manager to indemnification under Section 16 of this Agreement16.