Common use of DEPOSIT INTO ESCROW Clause in Contracts

DEPOSIT INTO ESCROW. 2.1 The Shareholders and Newcastle will, upon execution of this Agreement and the closing of the Share Exchange Agreement, deliver the Shares and stock powers of attorney, duly endorsed in the form required by the transfer agent of Newcastle (the “Stock Powers”), to the Escrow Agent and the Escrow Agent will hold the Shares and the Stock Powers in escrow subject to the terms and conditions of this Agreement. 2.2 The Shareholders hereby appoint the Escrow Agent as the agent and attorney-in-fact for and on behalf of the Shareholders in respect of the Shares, on the terms and subject to the conditions set forth herein.