Stock Escrow Agent definition
Examples of Stock Escrow Agent in a sentence
Upon receipt by the Cash Escrow Agent of the $50,000 payment of Promissory Note No. 1, the Cash Escrow Agent shall provide the Note and Stock Escrow Agent with satisfactory documentation of receipt of such payment and the amount thereof.
Except as set forth in this Paragraph 4.b, the Note and Stock Escrow Agent shall not be liable while acting in accordance with any written instructions given to it hereunder and believed by it to have been executed by the proper parties.
The foregoing indemnities in this paragraph shall survive the resignation of the Note and Stock Escrow Agent or the termination of this Agreement.
The Note and Stock Escrow Agent is hereby directed to hold the Shares and the certificates representing the Shares, and the two promissory notes referred to herein, in a bank safety deposit box obtained by the Note and Stock Escrow agent for this purpose at the ____________________bank, located at ___________________.
In fulfillment of the provisions of the Stock Subscription and Purchase Agreement, the Buyer, the Corporation and the Note and Stock Escrow Agent are now entering into this Agreement.
All notices and demands, given to the Note and Stock Escrow Agent under the provisions of this Agreement shall be in writing and shall be addressed to _____________________________.
If an instrument of acceptance by a successor Note and Stock Escrow Agent shall have not have been delivered to the Note and Stock Escrow Agent within thirty (30) days after the giving of such notice of resignation, the resigning Note and Stock Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor Note and Stock Escrow Agent.
The Note and Stock Escrow Agent's duties are only such as are specifically provided herein, and the Note and Stock Escrow Agent shall incur no liability whatsoever to the Corporation or the Buyer, except for its negligence, willful misconduct or failure to perform its obligations hereunder.
By execution of this Agreement, the Note and Stock Escrow Agent acknowledges receipt of the Note Escrow Deposit.
Escrow Agent may resign at any time by giving written notice thereof to the other parties hereto, but such resignation shall not become effective until a successor Note and Stock Escrow Agent shall have been appointed with the consent of all parties hereto and shall have accepted such appointment in writing.