Examples of Xxxxxxx Money Escrow Agent in a sentence
Subject to the last sentence of this clause (a), if for any reason the Closing does not occur and either party makes a written demand (the “Demand”) upon Escrow Agent for payment of the Xxxxxxx Money, Escrow Agent shall give written notice to the other party of the Demand within one business day after receipt of the Demand.
Subject to the last sentence of this clause (a), if for any reason the Closing does not occur and either party makes a written demand (the “Demand”) upon Escrow Agent for payment of the Xxxxxxx Money, Escrow Agent shall give written notice to the other party of the Demand within one (1) business day after receipt of the Demand.
Upon completion of the disbursement of the Xxxxxxx Money, Escrow Agent shall be automatically released and discharged of its escrow obligations hereunder.
The Xxxxxxx Money Escrow Deposit shall be held and disbursed by Xxxxxxx Money Escrow Agent pursuant to the terms of the Xxxxxxx Money Escrow Agreement, appended hereto as Exhibit 14.1 (the "Xxxxxxx Money Escrow Agreement"), which Xxxxxxx Money Escrow Agreement has been entered into by the Seller, Buyer and Xxxxxxx Money Escrow Agent.
The parties hereto hereby acknowledge that the Escrow Agent shall have no liability to any party on account of its failure to disburse the Xxxxxxx Money; and, in the event of any dispute as to who is entitled to receive the Xxxxxxx Money, Escrow Agent shall have the right to retain the Xxxxxxx Money and disburse it in accordance with the final order of a court of competent jurisdiction or to deposit the Xxxxxxx Money with said court, pending a final decision of such controversy.