Termination by the Escrow Agent. The Escrow Agent may terminate his appointment as Escrow Agent under this Agreement at any time by giving the Carrier and the Shipper 120 (one hundred and twenty) calendar days' prior written notice. If the Escrow Agent terminates its appointment or becomes unable to perform its obligations hereunder, the Appointers shall agree on a new escrow agent. If the Appointers cannot agree on a new escrow agent within 60 (sixty) calendar days following receipt of the Escrow Agent’s termination notice, each Appointer may request the president of the Zurich Chamber of Commerce to appoint a new es- crow agent. The costs of the appointment proceedings shall be borne by the Carrier and the Shipper equally.
Termination by the Escrow Agent. Should the Escrow Agreement be terminated by the Escrow Agent, Escrow Agent shall promptly deliver the Material to such successor escrow agent as is designated by Calix and Ericsson.
Termination by the Escrow Agent. The Escrow Agent may terminate its appointment as escrow agent under this Escrow Agreement at any time in accordance with Article 476 par. 1 CO by giving the Principals 6 (six) months’ prior written notice. Notwithstanding anything else set forth herein, in the event the Escrow Amount is not completely released on December 31, 2017, the Escrow Agent may terminate its appointment as escrow agent under this Escrow Agreement at any time by giving the Principals 3 (three) months’ prior written notice. If the Escrow Agent terminates its appointment or becomes unable to perform his obligations hereunder, the Principals shall immediately and jointly nominate a successor to act as escrow agent (the Successor). In such a case, the Escrow Agent shall immediately transfer the Escrow Account to the Successor, and the Successor shall then perform all duties which the Escrow Agent had under this Escrow Agreement. If the Escrow Agent cannot be replaced in accordance with the preceding paragraph or the Principals cannot agree on a Successor within 60 (sixty) Business Days following receipt of the Escrow Agent’s termination notice, any of the Parties shall be entitled to request the president of the Zurich Chamber of Commerce to appoint a Successor. Should such appointment not occur within 30 (thirty) Business Days following such request, then the Escrow Agent shall continue to keep the Escrow Account. The Escrow Agent shall then only release the Escrow Amount in accordance with joint or corresponding written instructions received by the Principals pursuant to Article 4.2. or in accordance with a final and binding arbitral award pursuant to Article 4.4. Any other obligation of the Escrow Agent to release the Escrow Amount under this Escrow Agreement shall in such a case cease to be effective, it being understood by the Parties that all other provisions of this Escrow Agreement shall continue to be valid and binding.
Termination by the Escrow Agent. The Escrow Agent may terminate its appointment at any time by giving 120 working days’ notice in writing to the Shareholders. If the Escrow Agent terminates its appointment, dies or becomes incapable of fulfilling its obligations under this Escrow Agreement, the Escrow Agent shall be released from its obligations hereunder, and a person designated by the Escrow Agent shall replace the latter and become the new Escrow Agent, provided that such person accepts this appointment and both Parties agree, whereupon all Shares of the Company held by the previous Escrow Agent shall be delivered to the new Escrow Agent. If the Escrow Agent cannot be replaced in accordance with the above paragraph, and the Shareholders are unable to jointly reach an agreement within 60 working days after receipt of a notice of termination or, as the case may be, a notice stating that the Escrow Agent is incapable of fulfilling its obligations hereunder by the Escrow Agent, either Party may request the president of the Zurich Chamber of Commerce to appoint a new Escrow Agent. The costs of the appointment procedure shall be borne by each shareholder in proportion to its shareholding in the Company.
Termination by the Escrow Agent. The Escrow Agent shall be entitled to terminate his appointment under this Escrow Agreement pursuant to Article 476 CO. In case of an early termination by the Escrow Agent, the Escrow Agent shall request the Board of Directors to name another Escrow Agent within thirty (30) days. If a substitute escrow agent is appointed, the Escrow Agent shall transfer the Shares to the substitute escrow agent in accordance with the instruction of the Board of Directors. If the Board of Directors does not name a substitute escrow agent or if the named substitute escrow agent is unable or unwilling to act as Escrow Agent, the Escrow Agent shall be entitled to deposit the Shares with the Court of First Instance of the District of Zurich (Bezirksgericht Zürich 1). The costs of such deposition shall be borne by the Shareholders.
