Replacement of Escrow Agent. 9.1 The Escrow Parties, acting jointly, may at any time replace the Escrow Agent by giving: (a) written notice in accordance with Clause 11 to such effect; and (b) details of such replacement including the account details of such replacement to the Escrow Agent.
9.2 The Escrow Agent may at any time resign for any reason by giving written notice (a “Resignation Notice”) to such effect to the Escrow Parties, such resignation to take effect in accordance with Clause 9.4. On receipt of a Resignation Notice the Escrow Parties shall, acting jointly, appoint a replacement as soon as practicable and in any event within sixty (60) days of receipt (or deemed receipt) by them of a Resignation Notice hereunder (the “Successor Appointment Period”) by giving (a) written notice in accordance with Clause 11 to such effect; and (b) details of such replacement including the details of such replacement to the Escrow Agent.
9.3 Within five (5) Business Days of receipt of written notice and details in accordance with Clauses 9.1 or 9.2 the Escrow Agent shall transfer the Escrow Property to such replacement escrow agent. If by the last day of the Successor Appointment Period the Escrow Agent has not received written notice that a replacement has been appointed the Escrow Agent may at any time take any steps it deems appropriate to appoint the same.
9.4 The resignation of the Escrow Agent will take effect on the date of the transfer of the Escrow Property pursuant to Clause 9.3 (such date being the “Resignation Date”).
9.5 From the end of the Successor Appointment Period until the Resignation Date the Escrow Agent shall not be obliged to (but may, in its absolute discretion) act in accordance with any Instruction.
Replacement of Escrow Agent. 5.1 If the Escrow Agent wishes to be relieved from its duties and obligations under this Agreement it shall so notify the other Parties in writing, or in the event that the Optionee and the Optionor mutually agree to replace the Escrow Agent, they shall so notify the Escrow Agent of their intention and, in either case, the replacement of the Escrow Agent shall be made within a period of sixty (60) days following receipt of the notice, provided that the selection and appointment of the replacement for the Escrow Agent shall be the sole responsibility of the Optionee, subject to the consent of the Optionor, which consent shall not be unreasonably withheld, and subject to the agreement of the new Escrow Agent to be bound by the terms and conditions of this Agreement.
Replacement of Escrow Agent. 4.1 If the Escrow Agent wishes to be relieved from its duties and obligations under this Agreement it shall so notify the other parties in writing, or in the event that the parties mutually agree to replace the Escrow Agent, they shall so notify the Escrow Agent of their intention and, in either case, the replacement of the Escrow Agent shall be made within a period of sixty (60) days following receipt of the notice, provided that the selection and appointment of the replacement for the Escrow Agent shall be agreed by the parties, and subject to the agreement of the new Escrow Agent to be bound by the terms and conditions of this Agreement.
Replacement of Escrow Agent. The Escrow Agent may resign, or the Investor and Brookdale may agree to discharge the Escrow Agent, from its obligations under the Equity Option Agreement and this Agreement at any time, but in no event shall the Escrow Agent be released of its obligations under the Equity Option Agreement and this Agreement unless and until a substitute escrow agent has been designated and assumed its obligations.
Replacement of Escrow Agent. Mars and CopyTele Sub, acting together, may upon 30 days written notice replace the Escrow Agent by entering into a new escrow agreement with a successor escrow agent on, as far as practicable, the same terms and conditions as are specified herein and jointly giving written notice to such effect, in the form set out in Schedulel hereto, to the Escrow Agent. Within 3 (three) Business Days of receipt of such notice, the Escrow Agent shall, subject to any costs, fees, charges, expenses or indemnity amounts owed to the Escrow Agent, transfer custody of the CopyTeleSharesand the Videocon GDRsto the successor escrow agent as directed in writing. Upon such transfer, the new escrow agreement will become effective andthis Agreement shall stand txxxxxxxxx.Xx is clarified that the Escrow Agent shall not be responsible for ensuring that the persons entitled to receive the CopyTele Shares and/or the Videocon GDRsupon release are present at its offices to collect the same and shall not be liable for any delay in effecting the release as a consequence of the same.
Replacement of Escrow Agent. The Escrow Agent, and the Escrow Agent's successors hereinafter appointed, shall have the right to resign upon thirty (30) days written notice to GC and IPC. Similarly, the Escrow Agent may be removed and replaced following thirty (30) days joint written notice from GC and IPC to the Escrow Agent. In the event of such resignation or removal, GC and IPC shall appoint by mutual agreement a successor escrow agent hereunder by delivering to the Escrow Agent a written notice of such appointment. If the Parties are unable to agree on a successor escrow agent within thirty (30) days following the date of the notice of such resignation or removal, then any of the parties to this Agreement may petition a court of competent jurisdiction to appoint one, or for other appropriate relief, and the resulting appointment shall be binding upon all parties to this Agreement. Notwithstanding the foregoing, no resignation or removal shall be effective until a successor escrow holder has acknowledged its appointment as such in writing. Upon receipt of such notice, the Escrow Agent shall deliver to the designated successor escrow agent all money and other property held hereunder and shall thereupon be released and discharged from any and all further responsibilities whatsoever under this Agreement; provided, however, that the Escrow Agent shall not be deprived of its compensation earned prior to such time.
Replacement of Escrow Agent. (a) The Escrow Agent may --------------------------- resign at any time by giving not less than 30 Business Days prior written notice thereof to Class Counsel and all of the Contributing Defendants, and may be terminated at any time by not less than 30 Business Days prior written notice to the Escrow Agent from Class Counsel and all of the Contributing Defendants, but such resignation or termination shall not become effective until a successor Escrow Agent shall have been appointed and shall have accepted such appointment in writing. The successor Escrow Agent shall be selected by the Contributing Defendants from among the following institutions: Citibank, N.A.; The Chase Manhattan Bank; Credit Suisse First Boston; and
Replacement of Escrow Agent.
(a) If, while WQA is in existence, the Escrow Agent resigns or WQA decides to replace the Escrow Agent, WQA at its sole discretion shall retain a replacement Escrow Agent, subject to the requirements in Section 4.3.2. WQA shall provide notice of the replacement to all Parties.
(b) In the event that WQA ceases to exist, and the Escrow Agent resigns or the Parties mutually agree to replace the Escrow Agent or remove it for cause, the Parties shall select a new Escrow Agent by mutual agreement. Any dispute between the Parties as to the existence of cause shall be subject to the dispute resolution provisions set forth in this Agreement. If the Parties are unable to agree upon a replacement Escrow Agent within thirty
Replacement of Escrow Agent. It is understood and agreed that the Escrow Agent may resign upon giving written notice to all Escrow Parties and the Escrow Agent shall be obliged to resign upon receipt of a written notice requesting such resignation signed by each of the Escrow Parties. Such resignation shall take effect thirty (30) days after such notice is given or such earlier time as each of the Escrow Parties agrees to, unless at or prior to such date a successor Escrow Agent shall be appointed by each of the Escrow Parties, in which case such resignation shall take effect immediately upon the appointment of such successor Escrow Agent.
Replacement of Escrow Agent. The Escrow Agent may resign and be discharged from all further duties and liabilities hereunder by giving to the User and the Developer ninety (90) days notice in writing. In the event of the Escrow Agent resigning as aforesaid, a new escrow agent, which shall be a Canadian chartered bank or trust company acceptable to the User and the Developer shall be appointed by the Escrow Agent and, failing agreement between the User and the Developer, the Escrow Agent may apply to the Court of Queen’s Bench of Alberta, on such notice as the Court may direct, for the appointment of a new escrow agent without any further assurance, conveyance, act or deed.
