Common use of Delivery of Escrow Clause in Contracts

Delivery of Escrow. Upon the occurrence of the following events and satisfaction of the following conditions, the Escrow Agent shall deliver the Exchange Shares as contemplated below. (a) The Escrow Agent shall release the Exchange Shares and deliver them to the Beneficiaries after receipt of a direction, signed by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, CEO of Pacific Copper, certifying that the Post-Closing Items have been completed or waived as provided in Section 2 hereof. The Escrow Agent shall be entitled to rely on such written instructions delivered to the Escrow Agent by facsimile. (b) In the event the Exchange Shares are not released by the Escrow Agent in accordance with the terms of this Agreement by December 31, 2008, the Escrow Agent shall continue to hold the Exchange Shares and the Exchange Shares shall only be released upon joint written instruction from Pacific Copper and both of the Beneficiaries. It is contemplated that if the Exchange Shares are still held in escrow on December 31, 2008, the parties hereto (other than the Escrow Agent) shall negotiate an acceptable resolution and instruct the Escrow Agent accordingly.

Delivery of Escrow. Upon the occurrence of the following events and satisfaction of the following conditions, the Escrow Agent shall deliver the Exchange Shares as contemplated below. (a) The Escrow Agent shall release the Exchange Shares and deliver them to the Beneficiaries after receipt of a directiondirection from Pacific Copper, signed by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, CEO of Pacific Copperan officer, certifying that the Post-Closing Items have been completed or waived as provided in Section 2 hereof. The Escrow Agent shall be entitled to rely on such written instructions delivered to the Escrow Agent by facsimile. (b) In the event the Exchange Shares are not released by the Escrow Agent in accordance with the terms of this Agreement by December 31, 2008, the Escrow Agent shall continue to hold the Exchange Shares and the Exchange Shares shall only be released upon joint written instruction from Pacific Copper and both of the Beneficiaries. It is contemplated that if the Exchange Shares are still held in escrow on December 31, 2008, the parties hereto (other than the Escrow Agent) shall negotiate an acceptable resolution and instruct the Escrow Agent accordingly.