Unilateral Instruction Clause Samples

Unilateral Instruction. If, at any time, the Agent receives written notice (a "Release Notice") from one of the parties (the "Demanding Party") requesting the release of any amount from any of the Escrow Funds, and a copy of such Release Notice is received by the other parties hereto (each, a "Notified Party"), in substantially the form as attached hereto as Exhibit B, the Agent shall, after a period of ten (10) Business Days following the latest date upon which the Release Notice is received by any Notified Party (the "Objection Period"), disburse to the Demanding Party such portion of the Escrow Funds as is requested in the Release Notice, unless a Notified Party objects to such disbursement before the Objection Period has elapsed, in which case the portion of the Escrow Funds requested in the Release Notice (the "Disputed Funds") shall remain in escrow as part of the Escrow Funds until the parties shall have mutually agreed upon the procedures for disbursement of such Disputed Funds and delivered a joint written instruction to the Agent to such effect or have obtained an order of a court of competent jurisdiction ordering the distribution of such Disputed Funds.