Common use of Amendment; Resignation Clause in Contracts

Amendment; Resignation. This Agreement may be altered or amended only with the written consent of the Company, the Managing Dealer and the Escrow Agent. The Escrow Agent may resign as the Escrow Agent at any time upon 10 days' prior written notice to the Company and the Managing Dealer. In the case of the Escrow Agent's resignation, its only duty shall be to hold and dispose of the funds in the Escrow Account in accordance with the original provisions of this Agreement until a successor Escrow Agent shall be appointed and written notice of the name and address of such successor Escrow Agent shall be given to the Escrow Agent by the Company and the Managing Dealer, whereupon the Escrow Agent's only duty shall be to pay over to the successor Escrow Agent the funds in the Escrow Account, less any portion thereof previously paid out in accordance with this Agreement. In the event the Escrow Agent is not notified within 15 days of the appointment of a successor Escrow Agent, the Escrow Agent shall be entitled to transfer all funds and assets to a court of competent jurisdiction with a request to have a successor appointed. Upon filing such action and delivering such assets, the Escrow Agent's obligations and responsibilities shall cease. Similarly, the Company and the Managing Dealer, by mutual consent, may also jointly terminate the Escrow Agent and appoint a successor Escrow Agent by providing 15 days' written notice to the Escrow Agent. This Agreement may be terminated at any time by a written document signed by all parties to this Agreement.