Common use of Termination and Resignation Clause in Contracts

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company not fewer than thirty (30) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been appointed by the Company, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust company. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) of this Agreement. If no successor escrow agent is appointed by the Company within the thirty (30) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty (30) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide provided in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent escrow agent hereunder by giving the Company not no fewer than thirty twenty (3020) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been appointed by the Companyis appointed, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust company. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) 5 of this Agreement. If no successor escrow agent is appointed by the Company within the thirty twenty (3020) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty twenty (3020) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent agent, and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide provided in this Agreement. The rights and obligations of the Escrow Agent under Sections 4, 5 and 2(a)1 of this Agreement shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent escrow agent hereunder by giving the Company not no fewer than thirty twenty (3020) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder hereunder, after deduction and payment to the retiring Escrow Agent of all reasonable fees and expenses (including court costs and attorneys’ fees) payable to, incurred by, or expected to be incurred by the retiring Escrow Agent in connection with the performance of its duties and the exercise of its rights hereunder, upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been appointed by the Companyis appointed, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust companytrust. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections Section 2(a)(1) and (5) of this Agreement. If no successor escrow agent is appointed by the Company within the thirty twenty (3020) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty twenty (3020) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent agent, and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide provided in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent escrow agent hereunder by giving the Company not no fewer than thirty twenty (3020) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been appointed by the Companyresignation, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust company. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) 5 of this Agreement. If no successor escrow agent is appointed by the Company within the thirty twenty (3020) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty twenty (3020) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing to a successor discharged escrow agent and the delivery of all monies held hereunder to such successor escrow agent with its obligations pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, Company and (ii) there occurs upon the actual final disposition of the monies held in escrow hereunder as provide in this Agreementhereunder. The rights and obligations of the Company and the Escrow Agent shall survive the termination of this Agreementhereof. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company not fewer than thirty (30) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor new escrow agent and its acceptance of appointmentthereof. If no successor has been new escrow agent is so appointed by within the Companythirty (30) day period following such notice of resignation, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust companycompany and provided such successor must agree in writing to be bound by this Agreement. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointmentagent, the resigning escrow agent Escrow Agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) that such successor escrow agent agrees to be bound by the terms and (5) provisions of this Agreement. If no successor escrow agent is appointed by the Company within the thirty (30) day period following such notice of resignation30 days, the Escrow Agent reserves the right to forward the matter this matter, and all monies and other property held by in the Escrow Agent pursuant to this Agreement Account, to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty (30) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide provided in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent escrow agent hereunder by giving the Company not fewer than thirty sixty (3060) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been appointed by the Companyresignation , the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust company. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) 5 of this Agreement. If no successor escrow agent is appointed by the Company within the thirty sixty (3060) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty sixty (3060) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing to a successor discharged escrow agent and the delivery of all monies held hereunder to such successor escrow agent with its obligations pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreementagreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, Company and (ii) there occurs upon the actual final disposition of the monies held in escrow hereunder as provide in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreementhereunder. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company not fewer than thirty (30) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor new escrow agent and its acceptance of appointmentthereof. If no successor has been new escrow agent is so appointed by within the Companythirty (30) day period following such notice of resignation, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust company, and provided that such successor must agree in writing to be bound by this Agreement. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointmentagent, the resigning escrow agent Escrow Agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) that such successor escrow agent agrees to be bound by the terms and (5) provisions of this Agreement. If no successor escrow agent is appointed by the Company within the thirty (30) day period following such notice of resignationdays, the Escrow Agent reserves the right to forward the matter this matter, and all monies and other property held by in the Escrow Agent pursuant to this Agreement Account, at the expense of the Company, to a court of competent jurisdiction at and give written notice of the expense of same to the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty (30) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, Parties hereto and (ii) there occurs upon the actual final disposition of the monies held in escrow hereunder as provide in this Agreementhereunder. The rights and obligations of the Parties hereto and the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent escrow agent hereunder by giving the Company Parties hereto not fewer than thirty (30) days days' prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company Parties all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been escrow agent is appointed by within the Companythirty (30) day period following such notice of resignation, the Escrow Agent may designate its successor by written notice to the Company Parties so long as any such successor is a bank or trust company. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointmentappointment and acceptance by the resigning escrow agent thereof, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) of this Agreementthereafter. If no successor escrow agent is appointed by the Company Parties within the thirty (30) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement Funds to a court of competent jurisdiction at the expense of the CompanyParties. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty (30) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company Company; including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide provided in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company not fewer than thirty sixty (3060) days prior written notice thereof. Upon resignation during the first six months of this Agreement, the Escrow Agent shall be required to return any initial or set-up fees paid by the Company. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no such designation of a successor has been appointed Escrow Agent is made by the Company within 45 days of Company's receipt of Escrow Agent's notice of resignation, the Escrow Agent may designate its own successor by written notice to the Company Company, so long as any such successor is a bank or trust companycompany and Escrow Agent receives written consent to such proposed successor escrow agent within 60 days of Escrow Agent's original notice of resignation. Upon the designation of a successor escrow agent and the delivery to a the resigning escrow agent Escrow Agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent Escrow Agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) 5 of this Agreement. If no successor escrow agent is appointed appointed, or consented to, by the Company within the thirty sixty (3060) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent without cause and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty sixty (3060) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing to a successor escrow agent and the delivery of all monies held hereunder to such successor escrow agent discharged Escrow Agent with its obligations pursuant to the immediately preceding sentence, the discharged escrow agent Escrow Agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, and (ii) there occurs the actual final disposition of the monies held in escrow hereunder as provide in this Agreement. The rights and obligations of the Escrow Agent shall survive the termination of this Agreement. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent escrow agent hereunder by giving the Company not fewer than thirty sixty (3060) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor escrow agent and its acceptance of appointment. If no successor has been appointed by the Company, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust company. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointment, the resigning escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and (5) 5 of this Agreement. If no successor escrow agent is appointed by the Company within the thirty sixty (3060) day period following such notice of resignation, the Escrow Agent reserves the right to forward the matter and all monies and other property held by the Escrow Agent pursuant to this Agreement to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty sixty (3060) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing to a successor discharged escrow agent and the delivery of all monies held hereunder to such successor escrow agent with its obligations pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreementagreement.

Termination and Resignation. a. This Agreement shall terminate when (i) the Escrow Agent or its it’s successor or assign receives written notification of termination from the Company including final disposition instructions signed by the Company, Company and (ii) there occurs upon the actual final disposition of the monies held in escrow hereunder as provide in this Agreementhereunder. The rights and obligations of the Company and the Escrow Agent shall survive the termination of this Agreementhereof. b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company not fewer than thirty (30) days prior written notice thereof. As soon as practicable after its resignation, the Escrow Agent shall turn over to a successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing a successor new escrow agent and its acceptance of appointmentthereof. If no successor has been new escrow agent is so appointed by within the Companythirty (30) day period following such notice of resignation, the Escrow Agent may designate its successor by written notice to the Company so long as any such successor is a bank or trust companycompany and provided such successor must agree in writing to be bound by this Agreement. Upon the designation of a successor escrow agent and the delivery to a resigning escrow agent of the document appointing such successor escrow agent and its acceptance of appointmentagent, the resigning escrow agent Escrow Agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) that such successor escrow agent agrees to be bound by the terms and (5) provisions of this Agreement. If no successor escrow agent is appointed by the Company within the thirty (30) day period following such notice of resignation30 days, the Escrow Agent reserves the right to forward the matter this matter, and all monies and other property held by in the Escrow Agent pursuant to this Agreement Account, to a court of competent jurisdiction at the expense of the Company. c. The Company may discharge the Escrow Agent and appoint a successor escrow agent hereunder at any time by giving the Escrow Agent no fewer than thirty (30) days prior written notice thereof. As soon as practicable after its discharge, the Escrow Agent shall turn over to the successor escrow agent appointed by the Company all monies held hereunder upon presentation of the document from the Company appointing such successor escrow agent and its acceptance of appointment. Upon the designation of a successor escrow agent, the delivery of the document appointing a successor escrow agent and the delivery of all monies held hereunder to such successor escrow agent pursuant to the immediately preceding sentence, the discharged escrow agent shall be released from any and all liabilities arising thereafter except as provided in Sections 2(a)(1) and 5 of this Agreement.