Common use of Resignation of the Escrow Agent Clause in Contracts

Resignation of the Escrow Agent. The Escrow Agent may resign at any time by providing Parent, the Surviving Corporation and Stockholders' Representative with 30 days' prior written notice of its intention to do so; provided that a successor Escrow Agent has been appointed in writing by Parent, the Surviving Corporation and Stockholders' Representative. If a successor Escrow Agent is not appointed within the 30-day period following such notice, the Escrow Agent may petition any court of competent jurisdiction to name a successor Escrow Agent. The Escrow Agent's resignation shall be effective upon delivery of the Escrow Amount to the successor Escrow Agent and upon such successor's assumption of the obligations, rights and duties of the Escrow Agent hereunder.

Resignation of the Escrow Agent. The Escrow Agent may resign at any time by providing Parent, the Surviving Corporation Rimage and Stockholders' Representative Shareholders with 30 thirty (30) days' prior written notice of its intention to do so; provided that . Upon receiving such notice, Rimage and Shareholders shall endeavor to appoint a mutually agreeable successor the Escrow Agent. If Rimage and Shareholders are unable to appoint a successor the Escrow Agent has been appointed in writing within thirty (30) days of receipt by Parent, each of them of the Surviving Corporation and Stockholders' Representative. If a successor Escrow Agent is not appointed within the 30-day period following such noticeAgent's notice of its intention to resign, the Escrow Agent may petition any a court of competent jurisdiction to name appoint a successor Escrow Agentsuccessor. The Escrow Agent's resignation shall be effective upon delivery of the Escrow Amount Rimage Escrowed Stock to the successor Escrow Agent and upon such successor's assumption of the successor assuming the obligations, rights and duties of the Escrow Agent hereunder.

Resignation of the Escrow Agent. The Escrow Agent may resign at any time by providing Parent, the Surviving Corporation Corporation, and Stockholders' Representative Rohan with 30 days' prior written notice of its intention to do so; provided , PROVIDED that a successor Escrow Agent has been appointed in writing by Parent, the Surviving Corporation Corporation, and Stockholders' RepresentativeRohan. If a successor Escrow Agent is not appointed within the 30-day period following such notice, the Escrow Agent may petition any court of competent jurisdiction to name a successor Escrow Agent. The Escrow Agent's resignation shall be effective upon delivery of the Escrow Amount Fund to the successor Escrow Agent and upon such successor's assumption of the obligations, rights and duties of the Escrow Agent hereunder.