Termination of Escrow Agreement. The Escrow Agent's responsibilities thereunder shall terminate at such time as the Escrow Fund shall have been fully disbursed pursuant to the terms hereof, or upon earlier termination of this escrow arrangement pursuant to written instructions executed by the non-bank Party. Such written notice of earlier termination shall include instruction to the Escrow Agent for the distribution of the Escrow Fund.
Termination of Escrow Agreement. The Escrow Agent's responsibilities hereunder shall terminate upon the earliest to occur of the termination of the Purchase Agreement, the termination or rescission of this Agreement by mutual consent of the Company and the Purchaser, the disbursement of the Escrow Property into court under Section 5 hereof, and the resignation of the Escrow Agent under Section 6(h) hereof.
Termination of Escrow Agreement. This Agreement shall terminate upon the distribution of all of the Escrowed Funds by the Escrow Agent pursuant to this Agreement.
Termination of Escrow Agreement. This Escrow Agreement shall terminate and be of no further force and effect upon the delivery by the Escrow Agent of the full amount of the Escrow Amount in accordance with the provisions of this Escrow Agreement.
Termination of Escrow Agreement. This Escrow Agreement shall terminate when all funds in the Escrow Account have been paid to US Mag for Eligible Expenses, or, prior to that, upon agreement of US Mag and EPA, in which case such agreement shall specify how any remaining funds in the Escrow Account will be paid.
Termination of Escrow Agreement. This Escrow Agreement shall be terminated when no Collateral remains subject hereto. In addition, upon proper release of any Collateral to Escrower or Escrowee in accordance with the terms of this Escrow Agreement, such released Collateral shall no longer be subject to this Escrow
Termination of Escrow Agreement. Duration of the Escrow Agreement This Escrow Agreement shall remain in full force and effect till the termination of the Station Facility Management Agreement, either due to the expiry of the Term or otherwise, and the amount available in the Escrow Account has been fully paid in accordance with this Escrow Agreement and till all the obligations of the Facility Manager to IRSDC have been fully discharged pursuant to the Station Facility Management Agreement, unless terminated earlier by consent of all the Parties or otherwise in accordance with the provisions of this Escrow Agreement. The Facility Manager may, by not less than 45 (forty five) days prior notice to the Escrow Bank and IRSDC, terminate this Escrow Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to IRSDC and arrangements are made satisfactory to IRSDC for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank. The termination of this Escrow Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank. Closure of Escrow Account The Escrow Bank shall, at the request of IRSDC and the Facility Manager made on or after the payment by the Facility Manager of all outstanding amounts under the Station Facility Management Agreement, including the payments specified in Article 4.4 of this Escrow Agreement, and upon confirmation of receipt of such payments, close the Escrow Account and Sub-Accounts and pay any amount standing to the credit thereof to the Facility Manager. Upon closure of the Escrow Account hereunder, the Escrow Agreement shall be deemed to be terminated.
Termination of Escrow Agreement. Unless otherwise provided in this Agreement, final termination of this Agreement shall occur on the earliest of the date that (a) all funds held in the Escrow Account are distributed either to the Company or to Subscribers and the Company has informed the Escrow Agent in writing to close the Escrow Account, (b) all funds held in the Escrow Account are distributed to a successor escrow agent upon written instructions from the Company or (c) the Escrow Agent receives written notice from the Company that the Company terminated the Offering and any funds held in the Escrow Account are distributed in accordance with this Agreement. After the termination of this Agreement, the Company shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Subscribers.
Termination of Escrow Agreement. 5.1 The Escrow Agreement shall terminate upon the final disbursement of all funds held by the Escrow Agent hereunder, but not later than the Termination Date. If the funds have not been disbused pursuant to Section 4 on or before the close of business on the Termination Date, the Escrow Agent shall, without demand or direction from the Company, return the Escrow Funds (upon verification that such funds have been collected), with interest, to the Subscribers whose names have previously been provided to the Escrow Agent within fifteen (15) banking days after such date. Said disbursement to Subscribers shall be of their original capital investment with interest at 3% per annum calculated on an actual over 365 day basis, but without penalty or deduction. The Escrow Agent will not under any circumstances be required to risk or pay out any of its own money while carrying out its duties under the Escrow Agreement.
5.2 The Company shall have the option to extend the Minimum Subscription Termination Date and the Termination Date and the term of this Escrow Agreement one or more times by providing Minimum Subscription Termination Date or the Extension Notice in substantially the form attached hereto as Exhibit A. The Extension Notice shall state that the Termination Date has been extended consistent with the terms and conditions of the offering and shall specify the period of time for which the extension is effective. The Minimum Subscription Termination Date and the Termination Date may not be extended by the Company beyond ____________, 1999.
Termination of Escrow Agreement. Upon the receipt of written notice from the Bank that the obligations of the Company to the Bank under the Credit Agreement and the Notes have been paid in full, the Commitments have expired or been terminated, and the Letters of Credit and the Standby Letters of Credit have expired or been terminated, (i) the Escrow Agent shall deliver to the Bank the certificate or certificates evidencing the number of ATSC Shares then remaining in the Escrow Account, and (ii) the Escrow Account shall be deemed dissolved and this Escrow Agreement terminated.
