Resignation and Termination of the Escrow Agent. The Escrow Agent may resign at any time by giving 30 days’ prior written notice of such resignation to Underwriter and the Company. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as depositary the Escrow Funds that it receives until the end of such 30-day period. In such event, the Escrow Agent shall not take any action, other than receiving and depositing Investors checks and wire transfers in accordance with this Agreement, until the Company has designated a banking corporation, trust company, attorney or other person as successor. Upon receipt of such written designation signed by Underwriter and the Company, the Escrow Agent shall promptly deliver the Escrow Funds to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation, then the Escrow Agent may deposit the Escrow Funds held by it pursuant to this Agreement with a clerk of a court of competent jurisdiction pending the appointment of a successor. In either case provided for in this Section, the Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrow Funds.
Resignation and Termination of the Escrow Agent. The Escrow Agent may resign at any time by giving 30 days’ written notice of such resignation to the Company and Xxxxxxxx. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold the Escrow Certificate which it has received as of the date on which it provided the notice of resignation as depositary. In such event, the resigning Escrow Agent shall not take any action until the Company and Xxxxxxxx have designated a banking corporation, trust company, attorney or other person as successor. Upon receipt of such written instructions signed by the Company and Xxxxxxxx, the Escrow Agent shall promptly deliver the Escrow Certificate to such successor and shall thereafter have no further obligations hereunder.
Resignation and Termination of the Escrow Agent. The Escrow Agent may resign at any time by giving 30 days’ prior written notice of such resignation to Seller and Buyer. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as depositary the Escrowed Documents until the end of such 30-day period. In such event, the Escrow Agent shall not take any action in accordance with this Agreement, until the Seller and Buyer have designated a banking corporation, trust company, attorney or other person as successor. Upon receipt of such written designation, the Escrow Agent shall promptly deliver the Escrowed Documents to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation, then the Escrow Agent may deposit the Escrowed Documents held by it pursuant to this Agreement with a clerk of a court of competent jurisdiction pending the appointment of a successor. In either case provided for in this paragraph, the Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrowed Documents.
Resignation and Termination of the Escrow Agent. The Escrow Agent may resign at any time by giving 10 days’ prior written notice of such resignation to the Company. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as depositary the Escrow Funds that it receives until the end of such 10-day period. In such event, the Escrow Agent shall not take any action, other than receiving and depositing the Investor’s checks and wire transfers in accordance with this Agreement, until the Company has designated a banking corporation, trust company, attorney or other person as successor. Upon receipt of such written designation signed by the Company, the Escrow Agent shall promptly deliver the Escrow Funds to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 10 days following the effective date of such resignation, then the Escrow Agent may deposit the Escrow Funds held by it pursuant to this Agreement with
Resignation and Termination of the Escrow Agent. The Escrow Agent, and ----------------------------------------------- any successor Escrow Agent, shall have the right to resign from its duties hereunder by giving written notice of its intention to resign to all other parties hereto at least 30 business days in advance. Upon their receipt of a resignation notice from the Escrow Agent, Unigene and Tail Wind shall use their best efforts jointly to designate a successor Escrow Agent which is independent of Unigene and Tail Wind and does not provide services to Unigene or Tail Wind. If the parties do not agree upon a successor Escrow Agent within 30 business days after the receipt of the Escrow Agent's resignation notice, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor independent Escrow Agent or other appropriate relief and any such resulting appointment shall be binding upon all parties hereto. By mutual agreement, Unigene and Tail Wind shall have the right at any time, upon not less than five business days prior written notice to the Escrow Agent, to terminate their appointment of the Escrow Agent, or any successor Escrow Agent, as escrow agent hereunder. Notwithstanding any provision of this Agreement to the contrary, the Escrow Agent, or the successor Escrow Agent, shall continue to act as the Escrow Agent until its successor is appointed and qualified to act as the Escrow Agent.
Resignation and Termination of the Escrow Agent. The Escrow Agent may resign at any time by giving 30 days’ prior written notice of such resignation to the Issuer. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as depositary the Escrow Funds that it receives until the Escrow Funds have been transferred to another qualified party. In such event, the Escrow Agent shall not take any action, other than receiving and depositing the Subscriber’s payments in accordance with this Agreement, until the Issuer has designated a banking corporation, trust Issuer, attorney or other person as successor. Upon receipt of such written designation signed by the Issuer, the Escrow Agent shall promptly deliver the Escrow Funds to such successor and shall thereafter have no further obligations hereunder. Upon deposit of the Escrow Funds to a third party pursuant to this Section 2.4, the Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrow Funds.
Resignation and Termination of the Escrow Agent
