Instructions to Escrow Agent. The Indemnifying Party hereby covenants and agrees that at any time the Indemnifying Party is obligated to indemnify a Indemnitee for Damages under this Article XI and such Damages are to be paid out of the Escrow Shares, if requested by Parent, Indemnifying Party shall execute and deliver to the Escrow Agent written instructions pursuant to the Escrow Agreement to release to the Indemnitee such portion of the Indemnity Deposit as is necessary to indemnify the Indemnitee for such Damages.
Appears in 2 contracts
Sources: Merger Agreement (Brek Energy Corp), Merger Agreement (Gasco Energy Inc)
Instructions to Escrow Agent. The Indemnifying Party Seller hereby covenants and agrees that at any time the Indemnifying Party t▇▇▇ ▇▇▇▇▇▇ is obligated to indemnify a Indemnitee an Indemnified Party for Damages under this Article XI XIII and such Damages are to be paid out of the Escrow Shares, if requested by Parent, Indemnifying Party Seller shall execute and deliver to the Escrow Agent written instructions pursuant to the Escrow Agreement to release to the Indemnitee such Indemnified Party such portion of the Indemnity Deposit Escrow Shares as is necessary to indemnify the Indemnitee such Indemnified Party for such Damages.
Appears in 1 contract
Sources: Merger Agreement (Superior Offshore International Inc.)