Common use of Resignation and Removal of Escrow Agent Clause in Contracts

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to BEA and Seller specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by BEA and Seller of such notice of resignation. Such resignation shall take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 and has accepted such appointment, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrowed Funds. The Escrow Agent may be removed by the joint action of BEA and Seller, with or without cause, at any time upon not less than ten (10) days' prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 9, the Escrow Agent shall continue to serve in its capacity as escrow agent until (a) a successor escrow agent is appointed in accordance with the provisions of Section 10 and has accepted such appointment and (b) the Escrowed Funds have been transferred to and received by such successor escrow agent.

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to BEA Buyer and Seller Xxxxxxxx specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by BEA Buyer and Seller Xxxxxxxx of such the notice of resignation. Such resignation shall take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 17 and has accepted such appointment, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrowed FundsEscrow Amount. The Escrow Agent may be removed by the joint action of BEA Buyer and SellerXxxxxxxx, with or without cause, at any time upon not less than ten (10) 60 days' prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 915, the Escrow Agent shall continue to serve in its capacity as escrow agent until (ai) a successor escrow agent is appointed in accordance with the provisions of Section 10 17 and has accepted such appointment and (bii) the Escrowed Funds have Escrow Amount has been transferred to and received by such successor escrow agent. Buyer and Xxxxxxxx shall promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 17.

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to BEA Buyer and Seller specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by BEA Buyer and Seller of such the notice of resignation. Such resignation shall take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 17 and has accepted such appointment, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrowed FundsEscrow Amount. The Escrow Agent may be removed by the joint action of BEA Buyer and Seller, with or without cause, at any time upon not less than ten (10) 15 days' prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 916, the Escrow Agent shall continue to serve in its capacity as escrow agent until (a) a successor escrow agent is appointed in accordance with the provisions of Section 10 17 and has accepted such appointment and (b) the Escrowed Funds have Escrow Amount has been transferred to and received by such successor escrow agent. Buyer and Seller shall promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 17.

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it Escrow Agent may resign and be discharged of its Escrow Agent's duties and obligations hereunder under this Agreement (other than obligations of Escrow Agent arising before the resignation date and not discharged as of that date) by delivering written notice to BEA the Company and Seller the Representative specifying the effective date of such resignation, which date shall will not be earlier than 30 thirty (30) calendar days following the receipt by BEA the Company and Seller the Representative of such the notice of resignation. Such resignation shall will take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 15 hereof and has accepted such appointmentappointment at an earlier date, in which case such resignation shall will take effect immediately upon receipt by such successor escrow agent of the Escrowed FundsEscrow Fund. The Escrow Agent may be removed by the joint action of BEA the Company and Sellerthe Representative, with or without cause, at any time upon not less than ten thirty (1030) calendar days' prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 914, the Escrow Agent shall will continue to serve in its capacity as escrow agent until (ai) a successor escrow agent is appointed in accordance with the provisions of Section 10 15 hereof and has accepted such appointment appointment, and (bii) the Escrowed Funds have Escrow Fund has been transferred to and received by such successor escrow agent. The Company and the Representative will promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 15 hereof.

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it Escrow Agent may resign and be discharged of its Escrow Agent’s duties and obligations hereunder under this Agreement (other than obligations of Escrow Agent arising before the resignation date and not discharged as of that date) by delivering written notice to BEA Buyer and Seller Seller’s Principal Stockholder specifying the effective date of such resignation, which date shall will not be earlier than 30 thirty (30) days following the receipt by BEA Buyer and Seller Seller’s Principal Stockholder of such the notice of resignation. Such resignation shall will take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 17 hereof and has accepted such appointmentappointment at an earlier date, in which case such resignation shall will take effect immediately upon receipt by such successor escrow agent of the Escrowed FundsEscrow Fund. The Escrow Agent may be removed by the joint action of BEA Buyer and Seller’s Principal Stockholder, with or without cause, at any time upon not less than ten thirty (1030) days' ’ prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 916, the Escrow Agent shall will continue to serve in its capacity as escrow agent until (ai) a successor escrow agent is appointed in accordance with the provisions of Section 10 17 hereof and has accepted such appointment appointment, and (bii) the Escrowed Funds have Escrow Fund has been transferred to and received by such successor escrow agent. Buyer and Seller’s Principal Stockholder will promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 17 hereof.

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to BEA the Company, Xxxxx and Seller PFG specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by BEA the Company, Xxxxx and Seller PFG of such the notice of resignation. Such resignation shall take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 and has accepted such appointmentappointed, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrowed FundsEscrow Shares. The Escrow Agent may be removed by the joint action of BEA the Company, Xxxxx and SellerPFG, with or without cause, at any time upon not less than ten (10) 10 days' prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 9Agent, the Escrow Agent shall continue to serve in its capacity as escrow agent until (a) a successor escrow agent is appointed in accordance with the provisions of Section 10 and has accepted such appointment and (b) the Escrowed Funds Escrow Shares have been transferred to and received by such successor escrow agent. The Company shall promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 10.

Resignation and Removal of Escrow Agent. The Escrow Agent or any --------------------------------------- successor to it may resign and be discharged of its duties and obligations hereunder (other than obligations of Escrow Agent arising before the resignation date and not discharged as of that date) by delivering written notice to BEA Buyer and the Seller Representative specifying the effective date of such resignation, which date shall must not be earlier than 30 days following the receipt by BEA Buyer and the Seller Representative of such the notice of resignation. Such resignation shall will take effect on the date specified in the notice of resignation, unless a successor escrow agent has been appointed in accordance with the provisions of Section 11 SECTION 22 and has accepted such appointmentappointment at an earlier date, in which case such resignation shall will take effect immediately upon receipt by such successor escrow agent of the Escrowed FundsEscrow Fund. The Escrow Agent may be maybe removed by the joint action of BEA Buyer and Sellerthe Seller Representative, with or without cause, at any time upon not less than ten (10) 30 days' prior written notice to the Escrow Agent, which notice may be waived by the Escrow Agent. Notwithstanding any resignation or removal of the Escrow Agent pursuant to this Section 9SECTION 21, the Escrow Agent shall will continue to serve in its capacity as escrow agent until (ai) a successor escrow agent is appointed in accordance with the provisions of Section 10 SECTION 22 and has accepted such appointment and (bii) the Escrowed Funds have Escrow Fund has been transferred to and received by such successor escrow agent.successor