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 Issuer, Underwriter, Escrow Agent, Subscribers 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 Issuer has 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: (a) Suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole satisfaction of Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); and/or (b) Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in Denver, Colorado for instructions with respect to such dispute or uncertainty, and pay to such court all funds held by it for holding and disposition in accordance with the instructions of such court. In determining the resolution of such dispute or uncertainty, such court shall apply the laws of the State of Colorado. Escrow Agent shall have no liability to Issuer, Underwriter, Subscribers or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account or any delay in or with respect to any action required or requested of Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Issuer, Underwriter, Escrow Agent, and/or Subscribers or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any and 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 Subscribers and Issuer has 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: (a) a. Suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole satisfaction of the Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); and/or (b) b. Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in DenverBoulder, Colorado for instructions with respect to such dispute or uncertainty, and pay to such court all funds held by it for holding and disposition in accordance with the instructions of such court. In determining the resolution of such dispute or uncertainty, such court shall apply the laws of the State of Colorado. Escrow Agent shall have no liability to the Issuer, Underwriter, Subscribers or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account escrow or any delay in or with respect to any action required or requested of the Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Issuer, Underwriter, Escrow Agent, Subscribers or any other person third party 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 Subscribers and Issuer has 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 reasonable discretion, take either or both of the following actions: (a) a. Suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole reasonable satisfaction of Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); and/or (b) b. Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in Denver, Colorado for instructions with respect to such dispute or uncertainty, and pay to such court all funds held by it for holding and disposition in accordance with the instructions of such court. In determining the resolution of such dispute or uncertainty, such court shall apply the laws of the State of Colorado. Escrow Agent shall have no liability to Issuer, Underwriter, Subscribers or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account escrow or any delay in or with respect to any action required or requested of Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Issuer, Underwriter, Escrow Agent, and/or Subscribers 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 Subscribers and Issuer has 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: (a) a. Suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole satisfaction of the Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); and/or (b) b. Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in DenverBoulder, Colorado for instructions with respect to such dispute or uncertainty, and pay to such court all funds held by it for holding and disposition in accordance with the instructions of such court. In determining the resolution of such dispute or uncertainty, such court shall apply the laws of the State of Colorado. Escrow Agent shall have no liability to the Issuer, Underwriter, Subscribers or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account escrow or any delay in or with respect to any action required or requested of the Escrow Agent. Issuer shall immediately reimburse Escrow Agent for all court costs and reasonable attorney fees incurred in connection herewith.

Suspension of Performance or Disbursement Into Court. If, at any time, ----------------------------------------------------- there shall exist any dispute between Issuer, Underwriter, Escrow Agent, Subscribers or any other person third party with respect to the holding or disposition of any portion of the Escrow Funds or any and 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 Subscribers and Issuer has 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 reasonable discretion, take either or both of the following actions: (a) a. Suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole reasonable satisfaction of Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); and/or (b) b. Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in Denver, Colorado for instructions with respect to such dispute or uncertainty, and pay to such court all funds held by it for holding and disposition in accordance with the instructions of such court. In determining the resolution of such dispute or uncertainty, such court shall apply the laws of the State of Colorado. Escrow Agent shall have no liability to Issuer, Underwriter, Subscribers or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account escrow or any delay in or with respect to any action required or requested of Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, there shall exist any dispute between Issuer, Underwriter, Escrow Agent, Subscribers or any other person with respect to the holding or disposition of any portion of the Escrow Funds or any and 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 Subscribers and Issuer has 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: (a) a. Suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole satisfaction of Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); and/or (b) b. Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in Denver, Colorado for instructions with respect to such dispute or uncertainty, and pay to such court all funds held by it for holding and disposition in accordance with the instructions of such court. In determining the resolution of such dispute or uncertainty, such court shall apply the laws of the State state of Colorado. Escrow Agent shall have no liability to Issuer, Underwriter, Subscribers or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account escrow or any delay in or with respect to any action required or requested of Escrow Agent.