Automatic Release. If the Escrowed Shares, or any part thereof, (collectively, the "Remaining Balance"), has not been otherwise released by the Escrow Agent pursuant to Section 4.1 by 5:00 p.m. on the Termination Date, then the Escrow Agent shall at 12:00 noon on the following Business Day release and deliver the Remaining Balance to Macnor and thereby be forever released from any and all obligations or liabilities in respect thereof.
Appears in 2 contracts
Sources: Agreement (Astris Energi Inc), Shareholder Agreement (Astris Energi Inc)