Common use of The Escrow Clause in Contracts

The Escrow. The Escrow Holder shall disburse the Escrow Shares in accordance with the following procedures: (a) If, before March 28, 2007, Jade Capital and/or the Shareholders shall have demonstrated that People’s Republic of China State Federal Drug Agency or other appropriate agency (“SFDA”) has issued a permit or the equivalent regulatory approval for Buyer to sell and distribute DR-70® in the People’s Republic of China without qualification (the “Approval to Market DR-70®”), in form and substance satisfactory to Buyer, then the Escrow Holder shall promptly disburse the Escrow Shares to Jade Capital and/or Shareholders, in such proportions as Jade Capital shall instruct. (b) If Jade Capital has not notified Escrow Holder that the SFDA has issued the Approval to Market DR-70® before March 28, 2008, or if Buyer disputes that the purported approval is satisfactory, the Escrow Shares shall be delivered by Escrow Holder to Buyer for cancellation.” 2. All other provisions of the Escrow Agreement shall remain unchanged by this Amendment No. 1.

Appears in 3 contracts

Samples: Escrow Agreement (Amdl Inc), Escrow Agreement (Amdl Inc), Escrow Agreement (Amdl Inc)

AutoNDA by SimpleDocs

The Escrow. The Escrow Holder shall disburse the Escrow Shares in accordance with the following procedures: (a) If, before March 28, 20072009, Jade Capital and/or the Shareholders shall have demonstrated that People’s Republic of China State Federal Drug Agency or other appropriate agency (“SFDA”) has issued a permit or the equivalent regulatory approval for Buyer to sell and distribute DR-70® in the People’s Republic of China without qualification (the “Approval to Market DR-70®”), in form and substance satisfactory to Buyer, then the Escrow Holder shall promptly disburse the Escrow Shares to Jade Capital and/or Shareholders, in such proportions as Jade Capital shall instruct. (b) If Jade Capital has not notified Escrow Holder that the SFDA has issued the Approval to Market DR-70® before March 28, 20082009, or if Buyer disputes that the purported approval is satisfactory, the Escrow Shares shall be delivered by Escrow Holder to Buyer for cancellation.” 2. All other provisions of the Escrow Agreement Agreement, as amended, shall remain unchanged by this Amendment No. 12.

Appears in 2 contracts

Samples: Escrow Agreement (Amdl Inc), Escrow Agreement (Amdl Inc)

AutoNDA by SimpleDocs

The Escrow. The Escrow Holder shall disburse the Escrow Shares in accordance with the following procedures: (a) If, before March 28, 20072010, Jade Capital and/or the Shareholders shall have demonstrated that People’s Republic of China State Federal Drug Agency or other appropriate agency (“SFDA”) has issued a permit or the equivalent regulatory approval for Buyer to sell and distribute DR-70® in the People’s Republic of China without qualification (the “Approval to Market DR-70®”), in form and substance satisfactory to Buyer, then the Escrow Holder shall promptly disburse the Escrow Shares to Jade Capital and/or Shareholders, in such proportions as Jade Capital shall instruct. (b) If Jade Capital has not notified Escrow Holder that the SFDA has issued the Approval to Market DR-70® before March 28, 20082010, or if Buyer disputes that the purported approval is satisfactory, the Escrow Shares shall be delivered by Escrow Holder to Buyer for cancellation.” 2. All other provisions of the Escrow Agreement Agreement, as amended, shall remain unchanged by this Amendment No. 13.

Appears in 1 contract

Samples: Escrow Agreement (Amdl Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!