Common use of Term of Escrow Clause in Contracts

Term of Escrow. The “Termination Date” shall be (i) December 31, 2010 or (ii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Shares. The Company may extend the termination date for up to one year upon written notice to the Escrow Agent. Upon the termination of the Agreement any remaining Escrow Property shall be forwarded to the Company in accordance with the Company’s written directions. The provisions of Sections 8, 10 and 11 shall survive the termination of this Agreement and the earlier resignation or removal of the Escrow Agent.

Appears in 3 contracts

Samples: Subscription Escrow Agreement (American Realty Capital Trust, Inc.), Subscription Escrow Agreement (American Realty Capital Trust, Inc.), Subscription Escrow Agreement (American Realty Capital Trust, Inc.)

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Term of Escrow. The “Termination Date” shall be (i) December 31January 25, 2010 2009 or (ii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Shares. The Company may extend the termination date for up to one year upon written notice to the Escrow Agent. Upon the termination of the Agreement any remaining Escrow Property shall be forwarded to the Company in accordance with the Company’s written directions. The provisions of Sections 8, 10 and 11 shall survive the termination of this Agreement and the earlier resignation or removal of the Escrow Agent.

Appears in 1 contract

Samples: Subscription Escrow Agreement (American Realty Capital Trust, Inc.)

Term of Escrow. The "Termination Date" shall be (i) December 31January 25, 2010 2009 or (ii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Shares. The Company may extend the termination date for up to one year upon written notice to the Escrow Agent. Upon the termination of the Agreement any remaining Escrow Property shall be forwarded to the Company in accordance with the Company’s 's written directions. The provisions of Sections 8, 10 and 11 shall survive the termination of this Agreement and the earlier resignation or removal of the Escrow Agent.

Appears in 1 contract

Samples: Subscription Escrow Agreement (American Realty Capital Trust, Inc.)

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Term of Escrow. The “Termination Date” shall be (i) December 31January 25, 2010 2009 or (ii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Shares. The Company may extend the termination date for up to one year upon written notice to the Escrow Agent. Upon the termination of the Agreement any remaining Escrow Property shall be forwarded to the Company in accordance with the Company’s written directions. The provisions of Sections 8, 10 and 11 shall survive the termination of this Agreement and the earlier resignation or removal of the Escrow Agent. Section 7.

Appears in 1 contract

Samples: Subscription Escrow Agreement

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