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

Resignation or Removal of Escrow Agent. (a) The Escrow Agent may resign at any time by giving written notice to the Company. The Company may remove the Escrow Agent upon written notice to the Escrow Agent. Such resignation or removal shall take effect upon delivery of the Escrow Assets to a successor escrow agent designated in writing by the Company, and the Escrow Agent shall thereupon be discharged from all obligations under this Agreement, and shall have no further duties or responsibilities in connection herewith. The obligations of the Company to the Escrow Agent and the rights of the Escrow Agent under Sections 5, 6(c), and 6(h) hereof shall survive termination of this Agreement or the resignation or removal of the Escrow Agent.

Resignation or Removal of Escrow Agent. (a) The Escrow Agent may resign at any time by giving written notice to the Company. The Company may remove the Escrow Agent upon written notice to the Escrow Agent. Such resignation or removal shall take effect upon delivery of the Escrow Assets to a successor escrow agent designated in writing by the Company, and the Escrow Agent shall thereupon be discharged from all obligations under this Agreement, and shall have no further duties or responsibilities in connection herewith. The obligations of the Company to the Escrow Agent and the rights of the Escrow Agent under Sections 5, 6(c), 4 and 6(h5(k) hereof shall survive termination of this Agreement or the resignation or removal of the Escrow Agent.

Resignation or Removal of Escrow Agent. (a) The Escrow Agent may resign at any time by giving written notice to the CompanyCompany and the Representative. The Company and Representative may remove the Escrow Agent upon joint written notice to the Escrow Agent. Such resignation or removal shall take effect upon delivery of the Escrow Assets to a successor escrow agent designated in writing by the CompanyCompany and the Representative, and the Escrow Agent shall thereupon be discharged from all obligations under this Agreement, and shall have no further duties or responsibilities in connection herewith. The obligations of the Company and the Representative to the Escrow Agent and the rights of the Escrow Agent under Sections 5, 6(c), and 6(h) hereof shall survive termination of this Agreement or the resignation or removal of the Escrow Agent.