The Escrow Agent’s Duties Sample Clauses

The Escrow Agent’s Duties. The Escrow Agent shall hold the Escrow in safekeeping and shall deliver the same or any part thereof, only as set forth in this Agreement.
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The Escrow Agent’s Duties. The Escrow Agent shall be obligated to perform only such duties as are expressly set forth in this Agreement, and shall not be required, in carrying out its duties under this Agreement, to take notice of or refer to any other document or agreement, including the Purchase Agreement. The provisions of this Section 6 shall survive the resignation or removal of the Escrow Agent or the termination of this Agreement.
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The Escrow Agent’s Duties. In performing its duties under this escrow agreement, the Escrow Agent’s liabilities and responsibilities will be limited and defined as follows:
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The Escrow Agent’s Duties. Except as may be otherwise provided in Paragraph 10, in which event the special instructions in said Paragraph 10 shall be controlling, the Escrow Agent shall hold the Escrow in safekeeping and deliver the same or any part thereof, only as set forth in this Agreement.
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The Escrow Agent’s Duties. The Escrow Agent may rely upon and shall be protected in acting or refraining from acting upon any written notice, instruction, request, affidavit, or other instrument, document or agreement furnished to it by Meditrust pursuant to this Agreement or in connection with the Escrowed Funds and believed by it to be genuine and to have been signed or presented by the proper Person and shall have no duty to examine or pass upon the validity, effectiveness or genuineness of any such notice, instruction, request, affidavit, certificate or other instrument, document or agreement. The Escrow Agent's duties hereunder shall be limited to the safekeeping and disbursement of the Escrowed Funds pursuant to the terms and provisions hereof. The Escrow Agent undertakes to perform only such duties or obligations as are expressly set forth herein and no duties or obligations shall be implied against the Escrow Agent. Except as expressly set forth herein, the Escrow Agent shall be under no obligation to refer to any other document or agreement between or among the parties hereto or related in any way to the proposed Assignment Transaction. Without limiting any other provision hereof, the Escrow Agent shall not be liable to Meditrust or BCC or any other Person for any action taken or omitted to be taken by the Escrow Agent or for any claims, actions, causes of action, judgments, damages, liabilities, losses, costs or expenses, unless caused by the Escrow Agent's gross negligence or willful misconduct. The Escrow Agent shall bear no responsibility for the financial condition of the issuer of any check, certified check or money order or of any depository into which the Escrowed Funds are deposited. Without limiting the foregoing, the Escrow Agent shall deposit the Escrowed Funds in an interest bearing account with the financial institution where the Escrow Agent customarily maintains its client trust fund accounts. BCC acknowledges that (i) the Escrow Agent is entitled to rely on any instructions received by the Escrow Agent from Meditrust as to whether it may release any of the Escrowed Funds held under and pursuant to this Agreement and (ii) the Escrow Agent is obligated to release the Escrowed Funds in accordance with any instructions received by the Escrow Agent from Meditrust. Upon release of the Escrowed Funds in accordance with any instructions received by the Escrow Agent from Meditrust, the Escrow Agent shall have no further liability hereunder. If threatened with litiga...
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The Escrow Agent’s Duties. 7.1 The duties and obligations of the Escrow Agent hereunder shall be governed solely by the provisions of this Agreement, and the Escrow Agent shall have no duties other than the duties expressly imposed upon herein and shall not be required to take any action other than in accordance with the terms hereof. The Escrow Agent shall:
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Related to The Escrow Agent’s Duties

  • Escrow Agent's Duties (i) The Escrow Agent shall be obligated only for the performance of such duties as are specifically set forth herein, and as set forth in any additional written escrow instructions which the Escrow Agent may receive after the date of this Agreement which are signed by an officer of Parent and the Securityholder Agent, and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall not be liable for any act done or omitted hereunder as Escrow Agent while acting in good faith and in the exercise of reasonable judgment, and any act done or omitted pursuant to the advice of counsel shall be conclusive evidence of such good faith.

  • The Agent's Duties (a) The powers conferred on the Agent hereunder are solely to protect the Secured Parties’ interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not any Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which it accords its own property.

  • Agent’s Duties The powers conferred on Agent hereunder are solely to protect Agent’s interest in the Collateral, for the benefit of the Lender Group and the Bank Product Providers, and shall not impose any duty upon Agent to exercise any such powers. Except for the safe custody of any Collateral in its actual possession and the accounting for moneys actually received by it hereunder, Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral. Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its actual possession if such Collateral is accorded treatment substantially equal to that which Agent accords its own property.

  • The Escrow Agent 2.3 The Escrow Agent shall invest the Settlement Fund deposited pursuant to ¶2.1 hereof in instruments backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then-current market rates. All costs and risks related to the investment of the Settlement Fund in accordance with the guidelines set forth in this paragraph shall be borne by the Settlement Fund.

  • Duties of the Escrow Agent The Escrow Agent shall have no duties or responsibilities other than those expressly set forth in this Agreement, and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. The Escrow Agent is not a party to, or bound by, any other agreement among the other parties hereto with respect to the subject matter hereof, and the Escrow Agent’s duties shall be determined solely by reference to this Agreement. The Escrow Agent shall have no duty to enforce any obligation of any person, other than as provided herein. The Escrow Agent shall be under no liability to anyone by reason of any failure on the part of any party hereto or any maker, endorser or other signatory of any document or any other person to perform such person’s obligations under any such document.

  • Rights, Duties and Responsibilities of Escrow Agent It is understood and agreed that the duties of the Escrow Agent are purely ministerial in nature, and that:

  • Appointment of the Escrow Agent The Escrow Agent is hereby designated and appointed to act as escrow agent in accordance with the terms and conditions of this Agreement, and the Escrow Agent hereby accepts such designation and appointment.

  • Duties and Responsibilities of the Escrow Agent The Escrow Agent's duties and responsibilities shall be subject to the following terms and conditions:

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