Court Direction definition
Examples of Court Direction in a sentence
The Escrow Agent agrees that upon receipt of a Joint Direction or Court Direction instructing the Escrow Agent to disburse all or a portion of the Escrow Funds, the Escrow Agent shall comply therewith and wire such funds pursuant to the wiring instructions provided by Buyer or Seller, as applicable, as contained in Exhibit B-2 or otherwise in accordance with this Section 4(e).
If the Party to whom such funds are to be paid has not provided the Escrow Agent with wiring instructions, then the Escrow Agent shall disburse the funds in compliance with the terms of such Joint Direction or Court Direction along with detailed payment instructions from the Party to whom Escrow Funds will be released.
Upon receipt of such Court Direction (together with a Court Direction Certificate) in respect of the Final Adjustment Amount, the Escrow Agent will release the Net Working Capital Escrow Property in accordance with such Court Direction, with interest as set forth below and subject to any obligations under applicable law to withhold amounts in respect of taxes.
In addition to any other relief awarded, the prevailing party in any arbitration or Court Direction covered by this Agreement, as determined by the arbitrator or by Court Direction, shall be entitled to recover costs and fees.