Unilateral Notice Clause Samples

Unilateral Notice. If the Escrow Agent receives a Release Notice from only Borrower or Lender (the "Instructing Party"), the Escrow Agent shall deliver a copy of such Release Notice to the other party (the "Non-Instructing Party") , which shall have ten (10) business days from its receipt of the Release Notice to object in writing to the instructions in the Release Notice. If the Escrow Agent does not receive a written notice of objection from the Non-Instructing Party within the ten (10) business day period, the Escrow Agent shall release the Escrow Funds in accordance with the instructions in the Release Notice. Any Release Notice issued pursuant to this Escrow Agreement must be delivered via hand delivery to the Escrow Agent and by hand delivery or facsimile to the Non-Instructing Party.