Exculpation of Escrow Agent. Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent shall not be deemed to be the agent of any Contributing Member, and that Escrow Agent shall not be liable to any Contributing Member for any act or omission on its part unless taken or suffered in bad faith, in willful disregard of this Agreement or involving gross negligence.
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Sources: Contribution Agreement (Schottenstein Realty Trust, Inc.)
Exculpation of Escrow Agent. Purchaser and Seller acknowledge that Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent shall not be deemed to be the agent of any Contributing Membereither of them, and that Escrow Agent shall not be liable to any Contributing Member either of them for any act or omission comission on its part unless taken take or suffered in bad faith, in willful disregard of this Agreement or involving gross negligence.
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