Disbursements from Escrow. (a) Zenith and RlSCORP agree to cause all funds currently on deposit with the Escrow Agent to be distributed as soon as reasonably practicable, but in no event later than 20 business days after execution of this Settlement Agreement, as follows: (i) Six million dollars ($6,000,000) to Zenith; and (ii) the balance of all principal and interest to RISCORP, Inc. (b) Following the foregoing disbursement of funds, the Escrow Agreement shall be terminated and the parties shall execute such documents or instruments as may be reasonably necessary to evidence such termination. (c) RISCORP acknowledges that Zenith intends to treat the amounts received under this paragraph 2 as reimbursement for unexpected expenses incurred by Zenith in connection with carrying on the Business acquired from RISCORP.
Appears in 3 contracts
Sources: Settlement Agreement (Riscorp Inc), Settlement Agreement (Zenith National Insurance Corp), Settlement Agreement (Riscorp Inc)