Common use of Joint Written Instructions Clause in Contracts

Joint Written Instructions. Notwithstanding anything to the contrary in this Agreement, if the Escrow Agent receives written instructions from all of the Escrow Parties, or their respective successors or assigns, substantially in the form of Exhibit A, as to the disbursement of the Indemnification Escrow Fund (“Joint Written Instructions”), the Escrow Agent shall disburse the Indemnification Escrow Fund pursuant to such Joint Written Instruction. The Escrow Agent shall have no obligation to follow any directions set forth in any Joint Written Instructions unless and until the Escrow Agent is satisfied, in its sole discretion, that the persons executing said Joint Written Instructions are authorized to do so.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Derma Sciences, Inc.), Asset Purchase Agreement (Derma Sciences, Inc.)