Common use of Escrow Closing Clause in Contracts

Escrow Closing. Promptly upon receipt of the following documents from or at the direction of the Company, the Escrow Agent shall release the Subscriptions and Escrow Funds to the Company. 1. A Notice of Escrow Closing in the form attached hereto as Exhibit A; and 2. Subscription Accounting as of the date of the Notice of Escrow Closing. Escrow Funds shall be remitted to the Company by wire transfer or such other means as may be requested by the Company. The Escrow Agent shall have no duty or responsibility to review or seek to determine the truth, accuracy or sufficiency of documents contemplated or referred to in the Notice of Escrow Closing. The Escrow Agent shall have no duty to review any Subscription Accounting, it being the understanding and agreement of the parties hereto that the Escrow Agent shall release the Subscriptions and disburse the Escrow Funds upon receipt of documents the Escrow Agent believes, without any duty of further inquiry, to conform to the requirements set forth in this Section 4(a).