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

Resignation and Removal of Escrow Agent. Escrow Agent or any successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to Buyer and Seller specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by Buyer and Seller of 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 17 and has accepted such appointment, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrow Amount. Escrow Agent may be removed by the joint action of Buyer and Seller, with or without cause, at any time upon 15 days' prior written notice to Escrow Agent, which notice may be waived by Escrow Agent. Notwithstanding any resignation or removal of Escrow Agent pursuant to this Section 16, 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 17 and has accepted such appointment and (b) the 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. Escrow Agent or any successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to Buyer 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 Buyer the Company, Xxxxx and Seller PFG of 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 17 and has accepted such appointmentappointed, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrow AmountShares. Escrow Agent may be removed by the joint action of Buyer the Company, Xxxxx and SellerPFG, with or without cause, at any time upon 15 10 days' prior written notice to Escrow Agent, which notice may be waived by Escrow Agent. Notwithstanding any resignation or removal of Escrow Agent pursuant to this Section 16Agent, 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 17 and has accepted such appointment and (b) the Escrow Amount has Shares have been transferred to and received by such successor escrow agent. Buyer and Seller The Company shall promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 1710.

Resignation and Removal of Escrow Agent. 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 Buyer 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 Buyer the Company and Seller the Representative of 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 17 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 Escrow AmountFund. Escrow Agent may be removed by the joint action of Buyer the Company and Sellerthe Representative, with or without cause, at any time upon 15 thirty (30) calendar days' prior written notice to Escrow Agent, which notice may be waived by Escrow Agent. Notwithstanding any resignation or removal of Escrow Agent pursuant to this Section 1614, 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 17 15 hereof and has accepted such appointment appointment, and (bii) the Escrow Amount Fund has been transferred to and received by such successor escrow agent. Buyer The Company and Seller shall the Representative will promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 1715 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 Buyer BEA and Seller specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by Buyer BEA and Seller of the 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 17 11 and has accepted such appointment, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrow AmountEscrowed Funds. The Escrow Agent may be removed by the joint action of Buyer BEA and Seller, with or without cause, at any time upon 15 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 169, 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 17 10 and has accepted such appointment and (b) the Escrow Amount has Escrowed Funds have 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. Escrow Agent or any --------------------------------------- successor to it may resign and be discharged of its duties and obligations hereunder by delivering written notice to Buyer and Seller Xxxxxxxx specifying the effective date of such resignation, which date shall not be earlier than 30 days following the receipt by Buyer and Seller Xxxxxxxx of 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 17 and has accepted such appointment, in which case such resignation shall take effect immediately upon receipt by such successor escrow agent of the Escrow Amount. Escrow Agent may be removed by the joint action of Buyer and SellerXxxxxxxx, with or without cause, at any time upon 15 60 days' prior written notice to Escrow Agent, which notice may be waived by Escrow Agent. Notwithstanding any resignation or removal of Escrow Agent pursuant to this Section 1615, 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 17 and has accepted such appointment and (bii) the Escrow Amount has been transferred to and received by such successor escrow agent. Buyer and Seller 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. 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 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 Buyer and Seller Seller’s Principal Stockholder of 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 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 Escrow AmountFund. Escrow Agent may be removed by the joint action of Buyer and Seller’s Principal Stockholder, with or without cause, at any time upon 15 thirty (30) days' ’ prior written notice to Escrow Agent, which notice may be waived by Escrow Agent. Notwithstanding any resignation or removal of Escrow Agent pursuant to this Section 16, 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 17 hereof and has accepted such appointment appointment, and (bii) the Escrow Amount Fund has been transferred to and received by such successor escrow agent. Buyer and Seller shall Seller’s Principal Stockholder will promptly take the necessary action to appoint a successor escrow agent in accordance with the provisions of Section 1717 hereof.

Resignation and Removal of Escrow Agent. 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 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 Buyer and the Seller Representative of 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 17 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 Escrow AmountFund. Escrow Agent may be maybe removed by the joint action of Buyer and Sellerthe Seller Representative, with or without cause, at any time upon 15 30 days' prior written notice to Escrow Agent, which notice may be waived by Escrow Agent. Notwithstanding any resignation or removal of Escrow Agent pursuant to this Section 16SECTION 21, 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 17 SECTION 22 and has accepted such appointment and (bii) the Escrow Amount Fund 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.successor