Common use of Suspension of Performance or Disbursement Into Court Clause in Contracts

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Agent, Company, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent’s sole satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent’s proper actions with respect to its obligations hereunder, or if Agent and Company have not within thirty (30) days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 7 hereof appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions:

Appears in 13 contracts

Samples: Escrow Agreement, Escrow Agreement (Apple Hospitality Five Inc), Escrow Agreement (Apple REIT Eight, Inc.)

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Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Agent, Company, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent’s sole satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent’s proper actions with respect to its obligations hereunder, or if Agent and Company have not within thirty (30) days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 7 6 hereof appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions:

Appears in 2 contracts

Samples: Escrow Agreement (Apple REIT Ten, Inc.), Escrow Agreement (Apple REIT Ten, Inc.)

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Agent, Company, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent’s 's sole satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent’s 's proper actions with respect to its obligations hereunder, or if Agent and Company have not within thirty (30) days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 7 hereof appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions:

Appears in 2 contracts

Samples: Escrow Agreement (Apple Hospitality Two Inc), Escrow Agreement (Apple Hospitality Five Inc)

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Agent, Company, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent’s 's sole satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent’s 's proper actions with respect to its obligations hereunder, or if Agent and Company have not within thirty (30) 30 days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 7 hereof appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions:

Appears in 2 contracts

Samples: Escrow Agreement (Apple Suites Inc), Escrow Agreement (Apple Suites Inc)

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Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Agentor among the Company, Companythe Portal Operator, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent’s sole reasonable satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent’s proper actions with respect to its obligations hereunder, or if Agent and the Company have has not within thirty (30) days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 7 8 hereof appointed a successor Escrow Agent escrow agent to act hereunder, then Escrow Agent may, in its sole discretion, consult legal counsel selected by it and take either or both of the following actions:

Appears in 1 contract

Samples: Portal Agreement, Consulting Services Agreement and Escrow Agreement (Viroment Capital, LLC)

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