Examples of Prior Escrow Agreement in a sentence
The Purchaser unilaterally declares that its agreement to be bound by the provisions of the Prior Purchase Agreement pursuant to this Section 2 is for the benefit of the Interested Parties (as such term is defined in the Prior Purchase Agreement) and its agreement to be bound by the provisions of the Prior Escrow Agreement pursuant to this Section 2 is for the benefit of 1316548 Alberta Ltd.
The Purchaser may at any time notify the other party or parties to the Prior Escrow Agreement or the Prior Purchase Agreement, or any of them, of the assignment thereof by the Seller to the Purchaser.
The Seller hereby sells, transfers and assigns to the Purchaser all the Seller’s right, title and interest in and to the Prior Escrow Agreement, including the funds currently comprising the Holdback Amount (as such term is defined in the Prior Escrow Agreement), and the Prior Purchase Agreement, including the representations, warranties, covenants and indemnities thereunder as and from the date hereof.
Seller covenants and agrees to promptly notify Purchaser of any potential claims for indemnification under the Prior Purchase Agreement or the Prior Escrow Agreement of which it or ResMor Trust becomes aware prior to the Closing Date.
The Parent and the Escrow Agent hereby agree that this agreement supersedes the Prior Escrow Agreement and such prior escrow agreement is hereby terminated.
Under the Prior Escrow Agreement, Purchaser delivered the First Deposit.
The Prior Escrow Agreement is hereby amended and restated in its entirety and shall be of no further force or effect.
Seller, Purchaser and the Company do hereby authorize and direct the Escrow Agent to wire transfer the escrow funds in the amount of the Initial Xxxxxxx Money previously held by Escrow Agent under the Prior Escrow Agreement to the account of Seller designated by Seller to Escrow Agent, whereupon same shall constitute the Initial Xxxxxxx Money under this Agreement and shall be held and released by Seller in accordance with the terms of this Agreement.
For the avoidance of doubt, nothing contained in this Section 7.11 shall otherwise prohibit or limit the ability of the Aggregator and Xxxxx Holdings to deliver Joint Written Instructions to the Escrow Agent in accordance with the terms of Section 1.5(b), 1.5(c) or 1.5(d) of the Prior Escrow Agreement.