Common use of Resignation of the Escrow Agent Clause in Contracts

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth herein, at least 60 days before the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and (c) if no such successor escrow agent has been designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this Agreement.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth hereinin this Agreement, at least 60 days before the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all All cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if If no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and. (c) Further, if no such successor escrow agent has been designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this Agreement. The terms of this Section shall survive the termination of the Escrow Agreement and the resignation or removal of the Escrow Agent.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth herein, at least 60 days before the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the CompanyCorporation, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company Corporation or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and (c) if no such successor escrow agent has been designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this Agreement.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth herein, at least 60 days before the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all All cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if If no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and (c) Further, if no such successor escrow agent has been designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this Agreement.

Resignation of the Escrow Agent. The Escrow Agent Agent, or any successor which is hereafter appointed, may resign or be removed, at any time, for any reason, time resign by giving not less than thirty (30) days written notice to the Seller and the Purchaser and shall be discharged of its resignation or removal to duties hereunder upon the proper parties at their respective addresses as set forth hereinappointment of a successor Escrow Agent. In the event of any such resignation, at least 60 days before the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all cash and other payments and all other property then held by the a successor Escrow Agent hereunder shall be delivered promptly appointed by it to Seller and Purchaser. Any such successor escrow agent as may be designated in writing by Escrow Agent shall deliver to Seller and Purchaser a written instrument accepting such appointment hereunder and thereupon he, she or it shall succeed to all the Company, whereupon the Escrow Agent’s obligations hereunder shall cease rights and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations duties of the Escrow Agent hereunder shalland shall be entitled to receive all the properties held by the predecessor Escrow Agent hereunder. In the event that Purchaser and Seller fail to appoint a successor Escrow Agent prior to the expiration of the notice period provided in this Paragraph 8., nevertheless, cease and terminate, and the then Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to , upon expiration of such notice period, may file a person designated suit in writing by the Company or interpleader in accordance with the directions of a final order or judgment of a court of competent jurisdictionjurisdiction and deliver to such Court this Escrow Agreement and the Escrow Deposit, as set; and (c) if no forth in Paragraph 10 below. The Escrow Agent will be relieved from any further obligations hereunder upon delivery of the Escrow Deposit to such successor escrow agent has been designated by such date, the Escrow Agent may petition any court of competent jurisdiction for or the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this AgreementCourt.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, time by written giving 30 days' notice of its such resignation or removal to Seller and Purchaser. Upon providing such notice, the proper parties at their respective addresses Escrow Agent shall have no further obligation hereunder except to hold as set forth herein, at least 60 days before depositary the Escrow Documents that it has received as of the date specified for on which it provided the notice of resignation. In such resignation event, the Escrow Agent shall not take any action until the Sellers and the Purchaser have designated a banking corporation, trust company, attorney or removal to take effectother person as successor. Upon receipt of such written instructions signed by the Sellers and the Purchaser, the Escrow Agent shall promptly deliver the Escrow Documents to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation or removal: (a) all cash and other payments and all other property resignation, then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon deposit the Escrow Agent’s obligations hereunder shall cease Documents and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then any other amounts held by it and pursuant to deliver the same to this Agreement with a person designated in writing by the Company or in accordance with the directions of a final order or judgment clerk of a court of competent jurisdiction; and (c) if no such successor escrow agent has been designated by such datejurisdiction pending the appointment of a successor. In either case provided for in this paragraph, the Escrow Agent may petition any court shall be relieved of competent jurisdiction for the appointment of a successor agent; all further obligations and released from all liability thereafter arising with respect to the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this AgreementDocuments.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, time by written giving 30 days' notice of its such resignation or removal to Seller and EVW on behalf of the proper parties at their respective addresses Subscribers. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as set forth herein, at least 60 days before depositary the Escrow Property that it has received as of the date specified for on which it provided the notice of resignation. In such resignation event, the Escrow Agent shall not take any action until the Company and Subscribers have designated a banking corporation, trust company, attorney or removal to take effectother person as successor. Upon receipt of such written instructions signed by the Company and Subscribers, the Escrow Agent shall promptly deliver the Escrow Property to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation or removal: (a) all cash and other payments and all other property resignation, then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon deposit the Escrow Agent’s obligations hereunder shall cease Property and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then any other amounts held by it and pursuant to deliver the same to this Agreement with a person designated in writing by the Company or in accordance with the directions of a final order or judgment clerk of a court of competent jurisdiction; and (c) if no such successor escrow agent has been designated by such datejurisdiction pending the appointment of a successor. In either case provided for in this paragraph, the Escrow Agent may petition any court shall be relieved of competent jurisdiction for the appointment of a successor agent; all further obligations and released from all liability thereafter arising with respect to the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this AgreementProperty.

Resignation of the Escrow Agent. The Escrow Agent may shall have the right to resign or be removedupon 30 days written notice to Parent. In the event of such resignation, at any time, for any reason, Parent shall appoint a successor escrow agent hereunder by delivering to the Escrow Agent a written notice of its resignation or removal such appointment. Upon receipt of such notice, the Escrow Agent shall deliver to the proper parties at their respective addresses as set forth hereindesignated successor escrow agent all money and other property held hereunder and shall thereupon be released and discharged from any and all further responsibilities whatsoever under this Agreement; provided, at least 60 days before however, the Escrow Agent shall not be deprived of its compensation earned prior to such time. If no successor escrow agent shall have been designated by the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if no such successor escrow agent has been designated by such datenotice, all obligations of the Escrow Agent hereunder shall, nevertheless, shall nevertheless cease and terminate, terminate and the Escrow Agent’s sole responsibility thereafter shall be to keep safely all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and (c) other parties hereto. Additionally, if no such successor escrow agent has shall have been designated by such datedesignated, the Escrow Agent may (i) at the expense of Parent, petition any court of competent jurisdiction for the appointment of a successor escrow agent; further , or (ii) deposit the Escrow Agent may pay into Funds with a court all monies of competent jurisdiction and property deposited with the Escrow Agent under this Agreementthereafter have no further responsibilities or duties in connection therewith.

Resignation of the Escrow Agent. The Escrow Agent may shall have the right to resign or be removedupon 30 days written notice to the Company. In the event of such resignation, at any time, for any reason, Company shall appoint a successor escrow agent hereunder by delivering to the Escrow Agent a written notice of its resignation or removal such appointment. Upon receipt of such notice, the Escrow Agent shall deliver to the proper parties at their respective addresses as set forth hereindesignated successor escrow agent all money and other property held hereunder and shall thereupon be released and discharged from any and all further responsibilities whatsoever under this Agreement; provided, at least 60 days before however, the Escrow Agent shall not be deprived of its compensation earned prior to such time. If no successor escrow agent shall have been designated by the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if no such successor escrow agent has been designated by such datenotice, all obligations of the Escrow Agent hereunder shall, nevertheless, shall nevertheless cease and terminate, terminate and the Escrow Agent’s sole responsibility thereafter shall be to keep safely all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and (c) other parties hereto. Additionally, if no such successor escrow agent has shall have been designated by such datedesignated, the Escrow Agent may (i) at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor escrow agent; further , or (ii) deposit the Escrow Agent may pay into Funds with a court all monies of competent jurisdiction and property deposited with the Escrow Agent under this Agreementthereafter have no further responsibilities or duties in connection therewith.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, time by written giving 30 days' notice of its such resignation or removal to Seller and EVW on behalf of the proper parties at their respective addresses Purchasers. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as set forth herein, at least 60 days before depositary the Escrow Documents that it has received as of the date specified for on which it provided the notice of resignation. In such resignation event, the Escrow Agent shall not take any action until the Company and Purchasers have designated a banking corporation, trust company, attorney or removal to take effectother person as successor. Upon receipt of such written instructions signed by the Company and Purchasers, the Escrow Agent shall promptly deliver the Escrow Documents to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation or removal: (a) all cash and other payments and all other property resignation, then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon deposit the Escrow Agent’s obligations hereunder shall cease Documents and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then any other amounts held by it and pursuant to deliver the same to this Agreement with a person designated in writing by the Company or in accordance with the directions of a final order or judgment clerk of a court of competent jurisdiction; and (c) if no such successor escrow agent has been designated by such datejurisdiction pending the appointment of a successor. In either case provided for in this paragraph, the Escrow Agent may petition any court shall be relieved of competent jurisdiction for the appointment of a successor agent; all further obligations and released from all liability thereafter arising with respect to the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this AgreementDocuments.

Resignation of the Escrow Agent. The Escrow Agent may resign or be removed, at any time, for any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth herein, at least 60 days before the date specified for such resignation or removal to take effect. Upon the effective date of such resignation or removal: (a) all cash and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the CompanyFund, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; (b) if no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company Fund or in accordance with the directions of a final order or judgment of a court of competent jurisdiction; and (c) if no such successor escrow agent has been designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with the Escrow Agent under this Agreement.