Fees and Expenses of the Escrow Agent. The Buyer and, on behalf of the ------------------------------------- Company Stockholders, the Stockholders' Representative hereby agree, jointly and severally, to pay to the Escrow Agent its fees and expenses in accepting and performing its appointment as escrow agent hereunder. As between themselves, the Buyer, on the one hand, and the Company Stockholders, on the other hand, hereby agree that each shall pay (a) one-half of the fees of the Escrow Agent for the services to be rendered by the Escrow Agent hereunder and (b) one-half of any fees and expenses of counsel reasonably incurred by the Escrow Agent in the performance of its duties hereunder. In releasing any amounts hereunder, the Escrow Agent may deduct therefrom and pay to itself the amount of any outstanding fees and expenses payable to it pursuant to the terms of this Agreement.
Appears in 1 contract
Sources: Stock Purchase Agreement (Renaissance Solutions Inc)
Fees and Expenses of the Escrow Agent. The Buyer and, on behalf of and the ------------------------------------- Company Stockholders, the Stockholders' Representative Indemnifying Stockholders hereby agree, jointly and severally, to pay to the Escrow Agent its fees and expenses in accepting and performing its appointment as escrow agent hereunder. As between themselves, the Buyer, on the one hand, and the Company Indemnifying Stockholders, on the other hand, hereby agree that each shall pay (a) one-half of the fees of the Escrow Agent for the services to be rendered by the Escrow Agent hereunder and (b) one-half of any fees and expenses of counsel and other reasonable, actual and documented out-of-pocket expenses reasonably incurred by the Escrow Agent in the performance of its duties hereunder. In releasing any amounts hereunder, the Escrow Agent may deduct therefrom and pay to itself the amount of any outstanding fees and expenses payable to it pursuant to the terms of this Agreement.
Appears in 1 contract
Sources: Escrow Agreement (Idx Systems Corp)