Common use of Right of Interpleader Clause in Contracts

Right of Interpleader. Should any controversy arise between or among the Contract Parties or any other person, firm or entity with respect to this Agreement, the Deed, the Deposit, or any part thereof, or the right of any party or other person to receive the Deed or the Deposit, or should the Escrow Agent resign and the Contract Parties fail to designate another escrow agent, or if Escrow Agent should be in doubt as to what action to take, Escrow Agent shall have the right, but not the obligation, either to: (a) withhold delivery of the Assignment until the controversy is resolved, the conflicting demands are withdrawn, or its doubt is resolved, or (b) institute a xxxx of interpleader in any court of competent jurisdiction to determine the rights of the parties hereto. Should a xxxx of interpleader be instituted, or should Escrow Agent be threatened with litigation or become involved in litigation in any manner whatsoever on account of this Agreement, then, as between themselves and Escrow Agent, the Contract Parties jointly and severally hereby bind and obligate themselves, their successors and assigns, to pay to Escrow Agent its attorney’s fees and any and all other disbursements, expenses, losses, costs and damages of Escrow Agent in connection with or resulting from such threatened or actual litigation.

Right of Interpleader. Should any controversy arise between involving the parties hereto or among the Contract Parties any of them or any other person, firm or entity with respect to this Agreement, the Deed, the Deposit, or any part thereof, Agreement or the right of any party or other person to receive the Deed or the DepositEscrowed Interest, or should the Escrow Agent resign and the Contract Parties a substitute escrow agent fail to designate another escrow agentbe designated as provided in Section 5 hereof, or if Escrow Agent should be in doubt as to what action to take, Escrow Agent shall have the right, but not the obligation, either to: to (a) withhold delivery of the Assignment Escrowed Interest until the controversy is resolved, the conflicting demands are withdrawn, or its doubt is resolved, or (b) institute a xxxx of interpleader in any court of competent jurisdiction to determine the rights of the parties hereto. Any dispute arising under or relating to this Agreement shall be referred to binding arbitration in accordance with the terms of the Purchase and Sale Agreement. Should a xxxx of interpleader be instituted, or should Escrow Agent be threatened with litigation or become involved in litigation or binding arbitration in any manner whatsoever on account of in connection with this Agreement, then, as between themselves and Escrow AgentAgreement or the Escrowed Interest, the Contract Parties jointly and severally hereby bind and obligate themselves, their successors and assigns, to pay to parties agree that Escrow Agent shall be entitled to receive its attorney’s 's fees and any and all other disbursements, expenses, losses, costs and damages of Escrow Agent in connection with or resulting from such threatened or actual litigationlitigation or arbitration prior to any disbursement hereunder.

Right of Interpleader. Should any controversy arise between or among the Contract Parties Depositors or any other person, firm or entity with respect to this Agreement, Agreement or the Deed, the DepositEscrowed Documents, or any part thereof, or the right of any party or other person to receive the Deed or the DepositEscrowed Documents, or should the Escrow Agent resign and the Contract Parties Depositors fail to designate another escrow agentEscrow Agent as provided in Section 17 hereof, or if Escrow Agent should be in doubt as to what action to take, Escrow Agent shall have the right, but not the obligation, either to: to (a) withhold delivery of the Assignment Escrowed Documents until the controversy is resolved, the conflicting demands are withdrawn, or its doubt is resolved, or (b) institute a xxxx of interpleader in any court of competent jurisdiction to determine the rights of the parties hereto. The right of the Escrow Agent to institute such a xxxx of interpleader shall not, however, be deemed to modify the manner in which Escrow Agent is entitled to make disbursements of the Escrowed Documents as hereinabove set forth other than to tender the Escrowed Documents into the registry of such court. Should a xxxx of interpleader be instituted, or should Escrow Agent be threatened with litigation or become involved in litigation in any manner whatsoever on account of this AgreementAgreement or the Escrowed Documents, then, as between themselves and Escrow Agent, the Contract Parties Depositors jointly and severally hereby bind and obligate themselves, their successors and permitted assigns, to pay to Escrow Agent its attorney’s attorneys’ fees and any and all other disbursements, expenses, losses, costs and damages of Escrow Agent in connection with or resulting from such threatened or actual litigation.

Right of Interpleader. Should any controversy arise between or among the Contract Parties or any other person, firm or entity with respect to this Agreement, the Deed, the Deposit, or any part thereof, or the right of any party or other person to receive the Deed or the Deposit, or should the Escrow Agent resign and the Contract Parties fail to designate another escrow agent, or if Escrow Agent should be in doubt as to what action to take, Escrow Agent shall have the right, but not the obligation, either to: (a) withhold delivery of the Assignment until the controversy is resolved, the conflicting demands are withdrawn, or its doubt is resolved, or (b) institute a xxxx bill of interpleader in any court of competent jurisdiction to determine the rights of the parties hereto. Should a xxxx bill of interpleader be instituted, or should Escrow Agent be threatened with litigation or become involved in litigation in any manner whatsoever on account of this Agreement, then, as between themselves and Escrow Agent, the Contract Parties jointly and severally hereby bind and obligate themselves, their successors and assigns, to pay to Escrow Agent its attorney’s fees and any and all other disbursements, expenses, losses, costs and damages of Escrow Agent in connection with or resulting from such threatened or actual litigation.

Right of Interpleader. Should any controversy arise between or among the Contract Parties Seller and Buyer or any other person, firm or entity with respect to this Agreement, the Deed, Escrow Account or the Deposit, or any part thereof, or the right of any party or other person to receive the Deed or the Deposit, or should the Escrow Agent resign Seller and the Contract Parties Buyer fail to designate another escrow agentEscrow Agent as provided in Section 16 hereof, or if Escrow Agent should be in doubt as to what action to take, Escrow Agent shall have the right, but not the obligation, either to: to (a) withhold delivery of the Assignment Deposit until the controversy is resolved, the conflicting demands are withdrawn, or its doubt is resolved, or (b) institute a xxxx of interpleader in any court of competent jurisdiction to determine the rights of the parties hereto. The right of the Escrow Agent to institute such a xxxx of interpleader shall not, however, be deemed to modify the manner in which Escrow Agent is entitled to make disbursements of the Deposit as hereinabove set forth other than to tender the Deposit into the registry of such court. Should a xxxx of interpleader be instituted, or should Escrow Agent be threatened with litigation or become involved in litigation in any manner whatsoever on account of this Agreement, the Escrow Account or the Deposit, then, as between themselves and Escrow Agent, the Contract Parties Seller and Buyer jointly and severally hereby bind and obligate themselves, their successors and assigns, to pay to Escrow Agent its attorney’s attorneys' fees and any and all other disbursements, expenses, losses, costs and damages of Escrow Agent in connection with or resulting from such threatened or actual litigation.