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

Suspension of Performance or Disbursement Into Court. If, at any time, (i) there shall exist any dispute between NCPS, SeedInvest, Issuer, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of all or any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or (ii) if at any time Escrow Agent is unable to determine, to Escrow Agent's reasonable satisfaction, the proper disposition of all or any portion of the Escrow Funds or Escrow Agent's proper actions with respect to its obligations hereunder, or (iii) if NCPS and Issuer have not within 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 reasonable discretion, take either or both of the following actions: a. suspend the performance of any of its obligations (including without limitation any disbursement 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). b. petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required or permitted by law, pay into such court all funds held by it in the Escrow Funds for holding and disposition in accordance with the instructions of such court. Escrow Agent shall have no liability to SeedInvest, Issuer, any Subscriber 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 the Escrow Funds or any delay in or with respect to any other action required or requested of Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, (i) there shall exist any dispute between NCPSIssuer, SeedInvest, IssuerBoustead, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of all or any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or (ii) if at any time Escrow Agent is unable to determine, to Escrow Agent's reasonable ’s sole satisfaction, the proper disposition of all or any portion of the Escrow Funds or Escrow Agent's ’s proper actions with respect to its obligations hereunder, or (iii) if NCPS Issuer and Issuer Boustead have not within 30 days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 7 12 hereof appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its reasonable sole discretion, take either or both of the following actions: a. suspend the performance of any of its obligations (including without limitation any disbursement 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). b. petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required or permitted by law, pay into such court all funds held by it in the Escrow Funds for holding and disposition in accordance with the instructions of such court. Escrow Agent shall have no liability to SeedInvest, Issuer, Boustead any Subscriber 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 the Escrow Funds or any delay in or with respect to any other action required or requested of Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, (i) there shall exist any dispute between NCPS, SeedInvest, Issuer, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of all or any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or (ii) if at any time Escrow Agent is unable to determine, to Escrow Agent's ’s reasonable satisfaction, the proper disposition of all or any portion of the Escrow Funds or Escrow Agent's ’s proper actions with respect to its obligations hereunder, or (iii) if NCPS and Issuer have not within 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 reasonable discretion, take either or both of the following actions: a. suspend the performance of any of its obligations (including without limitation any disbursement 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). b. petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required or permitted by law, pay into such court all funds held by it in the Escrow Funds for holding and disposition in accordance with the instructions of such court. Escrow Agent shall have no liability to SeedInvestNCPS, Issuer, any Subscriber 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 the Escrow Funds or any delay in or with respect to any other action required or requested of Escrow Agent.

Suspension of Performance or Disbursement Into Court. If, at any time, (i) there shall exist any dispute between NCPSBoustead, SeedInvestSI Securities, Issuer, Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of all or any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or (ii) if at any time Escrow Agent is unable to determine, to Escrow Agent's ’s reasonable satisfaction, the proper disposition of all or any portion of the Escrow Funds or Escrow Agent's ’s proper actions with respect to its obligations hereunder, or (iii) if NCPS Boustead, SI Securities, and Issuer have not within 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 reasonable discretion, take either or both of the following actions: a. suspend the performance of any of its obligations (including without limitation any disbursement 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). b. petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required or permitted by law, pay into such court all funds held by it in the Escrow Funds for holding and disposition in accordance with the instructions of such court. This Escrow Agent shall have no liability to SeedInvestAgreement has been duly approved by all necessary corporate action, Issuer, any Subscriber or any other person with respect to any such suspension of performance or disbursement into court, specifically including any liability necessary shareholder or claimed liability that may arisemembership approval, or be alleged to have arisenhas been executed by its duly authorized officers, out of or as a result of any delay and constitutes its valid and binding agreement, enforceable in the disbursement of the Escrow Funds or any delay in or accordance with respect to any other action required or requested of Escrow Agentits terms.

Suspension of Performance or Disbursement Into Court. If, at any time, (i) there shall exist any dispute between NCPSthe Company, SeedInvest, Issuer, the Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of all or any portion of the Escrow Funds or any other obligations of the Escrow Agent hereunder, or (ii) if at any time the Escrow Agent is unable to determine, to the Escrow Agent's ’s reasonable satisfaction, the proper disposition of all or any portion of the Escrow Funds or the Escrow Agent's ’s proper actions with respect to its obligations hereunder, or (iii) if NCPS and Issuer have the Company has not within 30 days of the furnishing by the Escrow Agent of a notice of resignation pursuant to Section 7 10 hereof appointed a successor Escrow Agent to act hereunder, then the Escrow Agent may, in its reasonable sole discretion, consult legal counsel selected by it and take either or both of the following actions: a. suspend Suspend the performance of any of its obligations (including without limitation any disbursement obligations) under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole reasonable satisfaction of the Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be).; provided, however, that the Escrow Agent shall continue to invest the Escrow Funds in accordance with Section 8 hereof; and/or b. petition Petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow AgentDavidson County, Tennessee, for instructions with respect to such dispute or uncertainty, and to the extent required or permitted by law, pay into such court all funds held by it in the Escrow Funds for holding and disposition in accordance with the instructions of such court, and the Escrow Agent shall thereupon be discharged from all further duties under this Escrow Agreement. The Escrow Agent shall have no liability to SeedInvest, Issuerthe Company, any Subscriber 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 Funds or any delay in or with respect to any other action required or requested of the Escrow Agent, except in instances of the Escrow Agent’s gross negligence or willful misconduct.

Suspension of Performance or Disbursement Into Court. If, at any time, (i) there shall exist any dispute between NCPS, SeedInvest, Issuer, the Issuer and the Escrow Agent, any Subscriber or any other person with respect to the holding or disposition of all or any portion of the Escrow Funds or any other obligations of the Escrow Agent hereunder, or (ii) if at any time the Escrow Agent is unable to determine, to the Escrow Agent's reasonable ’s sole satisfaction, the proper disposition of all or any portion of the Escrow Funds or the Escrow Agent's ’s proper actions with respect to its obligations hereunder, or (iii) if NCPS and the Issuer have has not within 30 thirty (30) days of the furnishing by the Escrow Agent of a notice of resignation pursuant to Section 7 8 hereof appointed a successor the Escrow Agent to act hereunder, then the Escrow Agent may, in its reasonable sole discretion, take either or both of the following actions: a. (a) suspend the performance of any of its obligations (including without limitation any disbursement 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 escrow agent shall have been appointed (as the case may be). b. (b) petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to the Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required or permitted by law, pay into such court all funds held by it in the Escrow Funds for holding and disposition in accordance with the instructions of such court. The Escrow Agent shall have no liability to SeedInvest, the Issuer, any Subscriber 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 the Escrow Funds or any delay in or with respect to any other action required or requested of the Escrow Agent.