Common use of Resignation of Escrow Agent Clause in Contracts

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the Purchasers. In such event, the Escrow Agent shall deposit the Escrow Amount with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the Purchasers. In such event, the Escrow Agent shall deposit the Escrow Amount with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers within thirty (30) days following the receipt by the parties of such notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, --------------------------- at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersInvestor. In such event, the Escrow Agent shall deposit the Escrow Amount with Funds and the Escrow Shares to a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Investor within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Investor shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount Funds and the Escrow Shares, the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersInvestor. In such event, the Escrow Agent shall deposit transfer the Escrow Amount with Shares to a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Investor within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Investor shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount Shares and/or Investor proceeds, the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at --------------------------- any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersInvestor. In such event, the Escrow Agent shall deposit transfer the Escrow Amount with Shares to a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Investor within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Investor shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount Shares, the Escrow Agent shall be released of and from all liability lia-bility under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersPurchaser. In such event, the Escrow Agent shall deposit the Escrow Amount with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Purchaser within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Purchaser shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at ---------------------------- its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersInvestors. In such event, the Escrow Agent shall deposit the Escrow Amount Shares and the Escrow Funds with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Investors within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Investors shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount Funds and the Escrow Shares, the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersPurchaser. In such event, the Escrow Agent shall deposit the Escrow Amount with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Purchaser within thirty (30) 30 days following the receipt by the parties of such notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Purchaser shall have not agreed on a successor escrow agent within the aforesaid 30-30 day period, upon which appointment and delivery of the Escrow Amount the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the PurchasersSellers. In such event, the Escrow Agent shall deposit the Escrow Amount with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers Sellers within thirty (30) days following the receipt of notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers Sellers shall have not agreed on a successor escrow agent within the aforesaid 30-day period, upon which appointment and delivery of the Escrow Amount the Escrow Agent shall be released of and from all liability under this Escrow Agreement.

Resignation of Escrow Agent. The Escrow Agent may, at any time, at its option, elect to resign its duties as Escrow Agent under this Escrow Agreement by providing notice thereof to each of the Company and the Purchasers. In such event, the Escrow Agent shall deposit the Escrow Amount with a successor independent escrow agent to be appointed by (a) the Company and the Purchasers within thirty (30) 30 days following the receipt by the parties of such notice of resignation from the Escrow Agent, or (b) the Escrow Agent if the Company and the Purchasers shall have not agreed on a successor escrow agent within the aforesaid 30-30 day period, upon which appointment and delivery of the Escrow Amount the Escrow Agent shall be released of and from all liability under this Escrow Agreement.