Common use of DEPOSIT INTO ESCROW Clause in Contracts

DEPOSIT INTO ESCROW. At the Closing, ten percent (10%) of the total number of Merger Shares issued by Buyer at Closing (the "Escrow Shares") shall be registered in the name of, and be deposited with Durham, Evans, Jones & Pinegar, P.C. (▇▇ ▇the▇ ▇▇▇▇▇tution selected by Buyer with the reasonable consent of Papyrus) as escrow agent (the "Escrow Agent"), such deposit to constitute the Escrow Fund and to be governed by the terms set forth herein and in the Escrow Agreement attached hereto as Exhibit D. The Escrow Fund shall be available to compensate Buyer pursuant to the indemnification obligations of the Papyrus Stockholders as set forth in Section 7.2. If Buyer issues any Additional Escrow Shares (as defined below), such shares will be issued in the name of the Escrow Agent and delivered to the Escrow Agent in the same manner as the Escrow Shares delivered at the Closing.