Resignation of Escrow Holder. Escrow Xxxxxx may resign under this Agreement by giving written notice to all of the Parties, effective 30 days after the date of the notice. Upon the appointment by the Parties of a new escrow holder or custodian, or upon written instructions to Escrow Holder for other disposition of the Escrow Deposit, Escrow Holder shall, after retention of its accrued escrow fees and expenses, if any, deliver the Escrow Deposit within a reasonable period of time as so directed, and shall be relieved of any and all liability.
Resignation of Escrow Holder. The Escrow Holder may resign and thereby become discharged from the duties and obligations hereby created, by notice in writing given to the Issuer, any rating agency then providing a rating on the Refunded Bonds, and the Paying Agent for the Refunded Bonds not less than sixty (60) days before such resignation shall take effect. Such resignation shall not take effect until the appointment of a new Escrow Holder hereunder.
Resignation of Escrow Holder. The Escrow Holder may resign and be discharged from its duties and obligations hereunder at any time by giving no less than ten (10) days’ prior written notice of such resignation to the Company, specifying the date when such resignation will take effect. Thereafter, the Escrow Holder shall have no further obligation to the Company or any other party except to hold the Escrow Shares as depository and not otherwise. In the event of such resignation, the Company will appoint a Successor within ten (10) days of notice of such resignation. Escrow Holder shall refrain from taking any action until it shall receive joint written instructions from the Company designating the Successor. Escrow Holder shall deliver all of the Escrow Shares to the Successor in accordance with such instructions and, upon receipt of the Escrow Shares, the Successor shall be bound by all of the provisions of this Agreement.
Resignation of Escrow Holder. Escrow Holder may resign herefrom upon fourteen (14) days' written notice to the Company and shall thereupon be fully released from any obligation to perform any further duties imposed upon it hereunder. Escrow Holder will transfer all files and records relating to the Escrow to any successor escrow holder upon receipt of a copy of executed escrow instructions designating such successor.
Resignation of Escrow Holder. Escrow Holder may resign at any time as Escrow Holder hereunder upon giving five (5) days’ prior written notice to that effect to both Seller and Buyer. In such event, the successor Escrow Holder shall be a nationally recognized title insurance company or other Person acceptable to both Seller and Buyer. Such party that will no longer be serving as Escrow Holder shall deliver, against receipt, to such successor Escrow Holder, the Xxxxxxx Money held by such party, to be held by such successor Escrow Holder pursuant to the terms and provisions of this Agreement. If no such successor has been designated on or before such party ceases to be Escrow Holder hereunder, whether by resignation or otherwise, its obligations as Escrow Holder shall continue until such successor is appointed, provided, however, its sole obligation thereafter shall be to safely keep all monies then held by it and to deliver the same to the Person, firm or corporation designated as its successor or until directed by a final order or judgment of a court of competent jurisdiction, whereupon Escrow Holder shall make disposition thereof in accordance with such order. If no successor Escrow Holder is designated and qualified within five (5) days after its resignation is effective, such party that will no longer be serving as Escrow Holder may apply to any court of competent jurisdiction for the appointment of a successor Escrow Holder.
Resignation of Escrow Holder. Escrow Holder may resign at any time upon giving at least thirty (30) days’ written notice to the Company; provided, however, that no such resignation shall become effective until the appointment of a successor Escrow Holder which shall be accomplished as follows: The Company shall use its best efforts to appoint a successor Escrow Holder within thirty (30) days after receiving such notice. The successor Escrow Holder shall execute and deliver an instrument accepting such appointment and it shall, without further acts, be vested with all the estates, properties, rights, powers, and duties of the predecessor Escrow Holder as if originally named as Escrow Holder. Thereafter, Escrow Holder shall be discharged from any further duties and liability under this Agreement.
Resignation of Escrow Holder. The Escrow Holder may resign and thereby become discharged from the duties and obligations hereby created, by notice in writing given to the Issuer and published once in a daily newspaper of general circulation or a financial journal published and/or of general circulation in the Borough of Manhattan, City and State of New York, not less than 60 days before such resignation shall take effect. Such resignation shall take effect immediately upon the appointment of a new Escrow Holder hereunder. If the Refunded Bonds are outstanding in fully registered form, and the Escrow Holder is able to obtain from the bond registrar for the Refunded Bonds, a complete list of the holders thereof and their addresses, the Escrow Holder may mail the notice of resignation, within the time required, to the holders of the Refunded Bonds in lieu of publication of such notice. Any out-of-pocket expenses incurred by the Escrow Holder in publication or mailing of such notice shall be paid by the Issuer.
