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

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) calendar days following the giving of prior written notice thereof to Seller and Purchaser. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller and Purchaser and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 3 contracts

Samples: Acquisition Agreement (Voxware Inc), Acquisition Agreement (Voxware Inc), Asset Purchase Agreement (Voxware Inc)

AutoNDA by SimpleDocs

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) calendar days following the giving of prior written notice thereof to Seller the Company and PurchaserInvestor. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller the Company and Purchaser Investor and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund and the Stock Certificate to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 3 contracts

Samples: Escrow Agreement (Sonic Solutions/Ca/), Escrow Agreement (Celerity Systems Inc), Escrow Agreement (Muse Technologies Inc)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) calendar days following the giving of prior written notice thereof to Seller the Company and PurchaserInvestor. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller the Company and Purchaser Investor and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or r removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund and the Stock Certificate to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 2 contracts

Samples: Escrow Agreement (Cytogen Corp), Escrow Agreement (Cytogen Corp)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) 30 calendar days following the giving of prior written notice thereof to Seller and PurchaserHeafxxx xxx the Representative. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller and Purchaser Heafxxx xxx the Representative and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder under this Agreement, such documents and instruments as are necessary to amend or reissue the Letter of Credit in the name of the successor escrow agent and such other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 1 contract

Samples: Escrow Agreement (Phoenix Racing Inc)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) calendar days following the giving of prior written notice thereof to Seller Sellers and Purchaser. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller Sellers and Purchaser and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund and the Interest Account to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund and the Interest Account as such successor may reasonably request.

Appears in 1 contract

Samples: Asset Purchase Agreement (Fruit of the Loom Inc /De/)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) calendar days following the giving of prior written notice thereof to Seller Linkage, the Shareholders’ Agent and PurchaserAsiaInfo. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller the Shareholders’ Agent and Purchaser AsiaInfo and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 1 contract

Samples: Escrow Agreement (Asiainfo Holdings Inc)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) 30 calendar days following the giving of prior written notice thereof to Seller the Stockholder Representatives and PurchaserMUSE. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller the Stockholder Representatives and Purchaser MUSE and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property then comprising the Escrow Fund to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder under this Agreement and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 1 contract

Samples: Form of Escrow Agreement (Muse Technologies Inc)

AutoNDA by SimpleDocs

Resignation and Removal of the Escrow Agent. (a) The Escrow ------------------------------------------- Agent may resign as such upon thirty (30) calendar days following the giving of days' prior written notice thereof to Seller Tritel and Purchaserthe Digital Investor Indemnitors. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument jointly signed by Seller Tritel and Purchaser the Digital Investor Indemnitors and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (cb) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 1 contract

Samples: Escrow Agreement (Tritel Finance Inc)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) by giving at least 15 calendar days following the giving of prior written notice thereof to Seller the Estate and PurchaserMcCown. In addition, the Escrow Agent may be removed and replaced on a date x xxxe designated in a written instrument signed by Seller the Estate and Purchaser McCown and delivered to the Escrow Agent. Notwithstanding the foregoingforegoxxx, no xo such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c5(c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver all of the property comprising remaining Escrow Shares and the Escrow Fund Transfer Documents to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund as such successor may reasonably requesthereunder.

Appears in 1 contract

Samples: Escrow Agreement (Trailer Bridge Inc)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) 30 calendar days following the giving of prior written notice thereof to Seller and PurchaserHeafxxx xxx the Representative. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller and Purchaser Heafxxx xxx the Representative and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (c) below. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder under this Agreement and other information with respect to the Escrow Fund as such successor may reasonably request.

Appears in 1 contract

Samples: Escrow Agreement (Phoenix Racing Inc)

Resignation and Removal of the Escrow Agent. (a) The Escrow Agent may resign as such thirty (30) calendar days following the giving of prior written notice thereof to Seller the Issuer and the Purchaser. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Seller the Issuer and the Purchaser and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow agent has acknowledged its appointment as such as provided in paragraph (cSection 9(c) belowhereof. In either event, upon the effective date of such resignation or removal, the Escrow Agent shall deliver the property comprising the Escrow Fund Funds to such successor escrow agent, together with such records maintained by the Escrow Agent in connection with its duties hereunder and other information with respect to the Escrow Fund Funds as such successor may reasonably request.

Appears in 1 contract

Samples: Escrow Agreement (Telenor East Invest As)

Time is Money Join Law Insider Premium to draft better contracts faster.