Common use of Resignation or Removal of Escrow Agent Clause in Contracts

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 20 contracts

Samples: Manager Agreement (Atlas America Public #15-2005 Program), Escrow Agreement (Atlas America Public # 14-2004 Program), Escrow Agreement (Atlas America Public #15-2005 Program)

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Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 14 contracts

Samples: Dealer Manager Agreement (Atlas Resources Public #17-2007 (A) L.P.), Escrow Agreement (Atlas Resources Public #17-2007 (A) L.P.), Escrow Agreement (Atlas Energy Resources, LLC)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the Escrow Agent by the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 13 contracts

Samples: Escrow Agreement (Atlas America Public 12 2003 Program), Escrow Agreement (Atlas America Public 11-2002 LTD), Escrow Agreement (Atlas America Public 11-2002 LTD)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty days' prior written notice to the other parties to this Agreementhereto. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty days' prior written notice from to the Escrow Agent by the other parties to this Agreementhereto. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the such notice (or as of an such earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account) in its possession to a successor escrow agent as shall be appointed by the other parties to this Agreement hereto as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement hereto are unable to agree on upon a successor escrow agent or fail shall have failed to appoint a successor escrow agent before prior to the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, the then the acting Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any ; and any such resulting appointment shall be binding on upon all of the parties to this Agreementhereto. On Upon acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account), the then acting Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 9 contracts

Samples: Escrow Agreement (Atlas America Public No 9 LTD), Escrow Agreement (Atlas Energy for Nineties Public No 8 LTD), Escrow Agreement (Atlas Energy for Nineties Public No 8 LTD)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty days' prior written notice from to the Escrow Agent by the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the such notice (or as of an any earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account) in its possession to a successor escrow agent as shall be appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail shall have failed to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, the then the acting Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any such resulting appointment shall be binding on upon all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account), the then acting Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 6 contracts

Samples: Escrow Agreement (Atlas America Public No 10 LTD), Dealer Manager Agreement (Atlas America Public No 10 LTD), Dealer Manager Agreement (Atlas America Public No 10 LTD)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementAgreement provided that a substitute Escrow Agent has been appointed. Similarly, The General Partner and the Dealer-Manager may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 5 contracts

Samples: Escrow Agreement (Lease Equity Appreciation Fund II, L.P.), Escrow Agreement (Lease Equity Appreciation Fund II, L.P.), Escrow Agreement (Lease Equity Appreciation Fund II, L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior joint written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid received or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid received or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 4 contracts

Samples: Escrow Agreement (MDS Energy Public 2014-B Lp), Escrow Agreement (MDS Energy Public 2014-B Lp), Escrow Agreement (MDS Energy Public 2013-B Lp)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Public Offering Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) and all other property in its possession pursuant to the terms of this Agreement to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Public Offering Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account)) and other property from the Escrow Agent, the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 4 contracts

Samples: Escrow Agreement, Escrow Agreement (Resource Real Estate Opportunity REIT II, Inc.), Escrow Agreement (Resource Real Estate Opportunity REIT, Inc.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior joint written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 3 contracts

Samples: Escrow Agreement (Atlas Resources Public #18-2008 Program), Dealer Manager Agreement (Atlas Resources Public #18-2008 (A) L.P.), Escrow Agreement (Atlas Resources Public #18-2008 (A) L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementAgreement provided that a substitute Escrow Agent has been appointed. Similarly, The General Partner and the Dealer-Manager may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 3 contracts

Samples: Escrow Agreement (LEAF Equipment Finance Fund 4, L.P.), Selling Dealer Agreement (LEAF Equipment Leasing Income Fund III, L.P.), Selling Dealer Agreement (LEAF Equipment Leasing Income Fund III, L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementAgreement provided that a substitute Escrow Agent has been appointed. Similarly, The General Partner and the Selling Agent may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); , and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) Interest Proceeds in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 3 contracts

Samples: Escrow Agreement (SQN Aif Iv, L.P.), Escrow Agreement (SQN Alternative Investment Fund III, L.P.), Form of Escrow Agreement (SQN Alternative Investment Fund III, L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior joint written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 3 contracts

Samples: Escrow Agreement (Atlas Resources Public #19-2011 (C) L.P.), Dealer Manager Agreement (Atlas Resources Public #19-2011 (C) L.P.), Escrow Agreement (Atlas Resources Public #19-2011 (C) L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' (30) days prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' (30) days prior written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty (30) days after the date of the notice (or as of an earlier date as may be mutually agreeable); , and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) account and any notices or other written communications or documents received by the Escrow Agent in its capacity and in its possession as such to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 2 contracts

Samples: Services Agreement (Atlas Energy Resources, LLC), Escrow Agreement (Atlas Energy Resources, LLC)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. Escrow Agreement If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 2 contracts

Samples: Escrow Agreement (Atlas America Public #16-2007 (A) L.P.), Escrow Agreement (Atlas America Public #16-2007 (A) L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned Escrow Agreement thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Atlas America Public #16-2007 (A) L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementAgreement provided that a substitute Escrow Agent has been appointed. Similarly, The General Partner and the Dealer-Manager may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. Escrow Agreement If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (LEAF Equipment Leasing Income Fund III, L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty days' prior written notice to the other parties to this Agreementhereto. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty days' prior written notice from to the Escrow Agent by all of the other parties to this Agreementhereto. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the such notice (or as of an such earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) Fund then in its possession to a successor escrow agent Escrow Agent as shall be appointed by the other parties to this Agreement hereto as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement hereto are unable to agree on upon a successor escrow agent or fail shall have failed to appoint a successor escrow agent before prior to the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the then-acting Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent Escrow Agent or other otherwise appropriate relief. Any , and any such resulting appointment shall be binding on upon all of the parties to this Agreementhereto. On acknowledgment Upon acknowledgement by any successor escrow agent Escrow Agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account)Fund, the then-acting Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Escrow Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Lamar Advertising Co)

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Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementParties. Similarly, the Escrow Agent may be removed and replaced after receiving thirty 30 days' prior written notice from the other parties to this AgreementParties. In either event, the duties of the Escrow Agent shall terminate thirty 30 days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement Parties as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement Parties are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this AgreementParties. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Sun Opportunity I Inc)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior joint written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. Escrow Agreement If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Atlas Resources Public #18-2008 (A) L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty days' prior written notice to the other parties to this Agreementhereto. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty days' prior written notice from to the Escrow Agent by all of the other parties to this Agreementhereto. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the such notice (or as of an such earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) Fund then in its possession to a successor escrow agent as shall be appointed by the other parties to this Agreement hereto as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement hereto are unable to agree on upon a successor escrow agent or fail shall have failed to appoint a successor escrow agent before prior to the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the then-acting Escrow Agent may petition any court of competent jurisdiction in Louisiana for the appointment of a successor escrow agent Escrow Agent or other otherwise appropriate relief. Any , and any such resulting appointment shall be binding on upon all of the parties hereto. In addition to the foregoing, in the event a dispute arises between Seller and Buyer, Seller may require that the Escrow Fund (including any accrued interest therein) be transferred to a successor escrow agent reasonably acceptable to Seller and Buyer, with such funds to be held by such successor escrow agent on the same terms and conditions set forth in this Agreement. On Upon acknowledgment by any successor escrow agent Escrow Agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account)Fund, the then-acting Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Washington Group International Inc)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, The General Partner and the Dealer-Manager may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Lease Equity Appreciation Fund I Lp)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty days' prior written notice to the other parties to this AgreementCompany. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty days' prior written notice from to the other parties to this AgreementEscrow Agent by the Company. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the such notice (or as of an such earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account) in its possession to a successor escrow agent as shall be appointed by the other parties to this Agreement Company as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail Company shall have failed to appoint a successor escrow agent before prior to the expiration of thirty days following the date of the notice of the Escrow Agent's resignation or removal, the then the acting Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any ; and any such resulting appointment shall be binding on upon all of the parties to this Agreementhereto. On Upon acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account), the then acting Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Summit Life Corp)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior joint written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account) in its possession to a successor escrow agent Escrow Agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Atlas Resources Public #19-2011 (C) L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty (30) days' prior written notice to the other parties to this AgreementCompany. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty (30) days' prior written notice from to the other parties to this AgreementEscrow Agent by the Company. In either event, the duties of the Escrow Agent shall terminate thirty (30) days after the date of the such notice (or as of an such earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account) in its possession to a successor escrow agent as shall be appointed by the other parties to this Agreement Company as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail Company shall have failed to appoint a successor escrow agent before prior to the expiration of thirty (30) days following the date of the notice of the Escrow Agent's resignation or removal, the then the acting Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any ; and any such resulting appointment shall be binding on upon all of the parties to this Agreementhereto. On Upon acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the an escrow account), the then acting Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Summit Life Corp)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementAgreement provided that a substitute Escrow Agent has been appointed. Similarly, The General Partner and the Dealer-Manager may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.. Escrow Agreement

Appears in 1 contract

Samples: Escrow Agreement (LEAF Equipment Finance Fund 4, L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this AgreementAgreement provided that a substitute Escrow Agent has been appointed. Similarly, The General Partner and the Dealer-Manager may remove the Escrow Agent may be removed and replaced after receiving giving thirty days' prior written notice from to the other parties to this AgreementEscrow Agent. In either event, the duties of the Escrow Agent Escrow Agreement shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (LEAF Equipment Finance Fund 4, L.P.)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after following the giving of thirty days' (30) days prior written notice to the other parties to this Agreementhereto. Similarly, the Escrow Agent may be removed and replaced after receiving following the giving of thirty days' (30) days prior written notice from to the Escrow Agent by the other parties to this Agreementhereto. In either event, the duties of the Escrow Agent shall terminate thirty (30) days after the date receipt of the such notice (or as of an such earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid moneys or investment income earned thereon while held by the Escrow Agent in the escrow account) assets then in its possession to a successor escrow agent as shall be appointed by the other parties to this Agreement hereto as evidenced by a written notice filed with the Escrow Agent. CrossPoint Foods and Oblas agree that [a] a successor escrow agent shall be appointed by CrossPoint Foods with Oblas's consent, which consent shall not be unreasonably withheld or delayed, and [b] any successor escrow agent shall be a national banking association having a combined capital and surplus of not less than $100 million. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail hereto have failed to appoint a successor escrow agent before as provided herein prior to the expiration of thirty (30) days following the date receipt of the notice of the Escrow Agent's resignation or removal, then the Escrow Agent may appoint a successor or petition any court of competent jurisdiction for the appointment of a successor escrow agent or for other appropriate relief. Any , and any such resulting appointment shall be binding on upon all of the parties to this Agreement. On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid or investment income earned thereon while held by the Escrow Agent in the escrow account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreementhereto.

Appears in 1 contract

Samples: Termination Agreement and Release (Crosspoint Foods Corp)

Resignation or Removal of Escrow Agent. The Escrow Agent may resign as such after giving thirty days' prior written notice to the other parties to this Agreement. Similarly, the Escrow Agent may be removed and replaced after receiving thirty days' prior joint written notice from the other parties to this Agreement. In either event, the duties of the Escrow Agent shall terminate thirty days after the date of the notice (or as of an earlier date as may be mutually agreeable); and the Escrow Agent shall then deliver the balance of the Subscription Proceeds (and any interest paid received or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account) in its possession to a successor escrow agent appointed by the other parties to this Agreement as evidenced by a written notice filed with the Escrow Agent. If the other parties to this Agreement are unable to agree on a successor escrow agent or fail to appoint a successor escrow agent before the expiration of thirty days following the date of the notice of the Escrow Agent's ’s resignation or removal, then the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or other appropriate relief. Any resulting appointment shall be binding on all of the parties to this Agreement. Escrow Agreement 6 On acknowledgment by any successor escrow agent of the receipt of the then remaining balance of the Subscription Proceeds (and any interest paid received or investment income earned thereon while held by the Escrow Agent in the escrow accountEscrow Account), the Escrow Agent shall be fully released and relieved of all duties, responsibilities, and obligations under this Agreement.

Appears in 1 contract

Samples: Escrow Agreement

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