Status of Escrow Agent. Escrow Agent is to be considered and regarded as a depository only, and shall not be responsible or liable (except for its failure to exercise due care, willful breach or willful misconduct) for the sufficiency or correctness as to form, manner of execution, or validity of any instrument deposited pursuant to this Escrow Agreement, nor as to the identity, authority, or rights of any person executing the same. Escrow Agent's duties hereunder shall be limited to the safekeeping of the Quitclaim Deed and the safekeeping and investment of money, instruments, and securities received by it as Escrow Agent and for their disbursement in accordance with the written escrow instructions given it in accordance with this Escrow Agreement.
Status of Escrow Agent. Escrow Agent is to be considered and regarded as a depository only, and shall not be responsible or liable (except for its failure to exercise due care, willful breach or willful misconduct) for the sufficiency or correctness as to form, manner of execution, or validity of any instrument deposited pursuant to this Escrow Agreement, nor as to the identity, authority, or rights of any person executing the same. Escrow Agent's duties hereunder shall be limited to the safekeeping and investment of money, instruments, and securities received by it as Escrow Agent and for their disbursement in accordance with the written escrow instructions given it in accordance with this Escrow Agreement.
Status of Escrow Agent. In consideration of Escrow Agent's acceptance of this Indemnification Agreement, the parties agree that Escrow Agent's obligations and duties in connection with this Indemnification Agreement are confined to those specifically enumerated in this Indemnification Agreement; that Escrow Agent shall not be in any manner liable or responsible for the sufficiency, correctness, genuineness or validity of any instruments deposited with Escrow Agent, or with reference to the form of execution of the instruments or the identity, authority or rights of any person executing or depositing the instruments; that Escrow Agent is under no obligation to ascertain the terms or conditions of any instruments or to comply in any respect with the terms of the instruments; and that Escrow Agent shall not be liable for any loss that may occur by reason of forgeries or false representations by others, due to the exercise of Escrow Agent's discretion, or for any other reason except Escrow Agent's gross negligence or willful misconduct. The parties acknowledge that Escrow Agent is not acting in his capacity as an attorney.
Status of Escrow Agent. Escrow Agent is to be considered and regarded as a depository only, and shall not be responsible or liable (except for its gross negligence or willful misconduct) for the sufficiency or correctness as to form, manner of execution, or validity of any instrument deposited pursuant to this Escrow Agreement, nor as to the identity, authority, or rights of any person executing the same. Escrow Agent’s duties hereunder shall be limited to the safekeeping of the Deposit received by it as Escrow Agent (and interest and income earned thereon) and for its disbursement in accordance with this Escrow Agreement.
Status of Escrow Agent. Escrow Agent's duties hereunder shall be ---------------------- limited to the safekeeping of money, instruments and securities received by it as Escrow Agent and for their disbursement in accordance with the written escrow instructions given it in accordance with this Escrow Agreement.
Status of Escrow Agent. The seller and Purchaser acknowledge and agree that, in acting hereunder, the Escrow Agent is acting as attorney to the Purchaser, and has advised it in relation to this transaction, but has not and is not acting as counsel to Seller, in regard to whom the Escrow Agent is acting solely as Escrow Agent hereunder.
Status of Escrow Agent. The Escrow Agent is acting under this Agreement as a stakeholder only. No term or provision of this Agreement is intended to create, nor shall any such term or provision be deemed to have created, any joint venture, partnership or attorney-client relationship between or among the Escrow Agent and Borrower, Lenders or Collateral Agent. This Agreement shall not be deemed to prohibit or in any way restrict the Escrow Agent's representation of Borrower, who may be advised by the Escrow Agent on any and all matters pertaining to this Agreement. To the extent the Borrower has been represented by the Escrow Agent, Borrower hereby waives any conflict of interest and irrevocably authorizes and directs the Escrow Agent to carry out the terms and provisions of this Agreement fairly as to all parties, without regard to any such representation and irrespective of the impact upon Borrower. The Escrow Agent's only duties are those expressly set forth in Section III of this Agreement, and Borrower, Lenders and Collateral Agent authorize the Escrow Agent to perform those duties in accordance with its usual practices in holding funds of its own or those of other escrows. The Escrow Agent may exercise or otherwise enforce any of its rights, powers, privileges, remedies and interests under this Agreement and applicable law or perform any of its duties under this Agreement by or through its partners, employees, attorneys, agents or designees.
Status of Escrow Agent. The Escrow Agent represents and warrants to the Company and the Plan and covenants that (i) it is, and shall remain at all times during the term of this Escrow Agreement, a "bank" as that term is defined in Section 3(a)(6) of the Securities Exchange Act of 1934, and (ii) the Escrow Account will be held for the benefit of participants, will not be subject to any liens, creditor claims, or other claims against the Company, the Administrator, or the Escrow Agent, and will not be subject to bankruptcy proceedings if the Company files for bankruptcy under federal or state law. Section 3.
