Common use of Termination of Agreement and Resignation of Escrow Agent Clause in Contracts

Termination of Agreement and Resignation of Escrow Agent. 7.1 This Escrow Agreement shall terminate upon disbursement of all of the Escrowed Funds, provided that the rights of the Escrow Agent and the obligations of the Seller under Section 6 shall survive the termination hereof. 7.2 The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Seller at least five (5) business days written notice thereof (the “Notice Period”). As soon as practicable after its resignation, the Escrow Agent shall, if it receives a joint notice from the Parties within the Notice Period, turn over to a successor escrow agent appointed jointly by the Parties all Escrowed Funds (less such amount as the Escrow Agent is entitled to retain pursuant to Section 9) upon presentation of the document appointing the new escrow agent and its acceptance thereof. If no new agent is so appointed within the Notice Period, the Escrow Agent shall return the Escrowed Funds to the parties from which they were received without interest or deduction.

Termination of Agreement and Resignation of Escrow Agent. 7.1 5.1 This Escrow Agreement shall terminate upon disbursement of all on the final disposition of the Escrowed Fundsmonies and property held in escrow hereunder (the "ESCROW PERIOD"), provided that the rights of the Escrow Agent and the obligations of the Seller Company and the Buyers under Section 6 Sections 4 and 7 shall survive the termination hereof. 7.2 5.2 The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Seller Company and the Buyers at least five (5) business days written 30 days' notice thereof (the “Notice Period”)thereof. As soon as practicable after its resignation, the Escrow Agent shall, if it receives a joint notice from the Parties within the Notice Period, shall turn over to a successor escrow agent appointed jointly by the Parties Company and the Buyers all Escrowed Funds monies and property held hereunder (less such amount as the Escrow Agent is entitled to retain pursuant to Section 97) upon presentation of the document appointing the new escrow agent and its acceptance thereof. If no new agent Escrow Agent is so appointed within the Notice Period60-day period following such notice of resignation, the Escrow Agent may deposit the aforesaid monies and property with any court of competent jurisdiction that the Escrow Agent deems appropriate. The Escrow Agent shall return promptly give the Escrowed Funds to Company and the parties from which they were received without interest or deductionBuyers notice of any such deposit and court.

Termination of Agreement and Resignation of Escrow Agent. 7.1 a. This Escrow Agreement shall terminate upon disbursement of all of the Escrowed Funds, provided that the rights of the Escrow Agent and the obligations of the Seller Company, the Seller, and the Purchasers under Section 6 4 shall survive the termination hereof. 7.2 b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Seller Company at least five (5) business days written notice thereof (the “Notice Period”). As soon as practicable after its resignation, the Escrow Agent shall, if it receives a joint notice from the Escrowing Parties within the Notice Period, turn over to a successor escrow agent appointed jointly by the Parties Company all Escrowed Funds (less such amount as the Escrow Agent is entitled to retain pursuant to Section 97) upon presentation of the document appointing the new escrow agent and its acceptance thereof. If no new agent is so appointed within the Notice Period, the Escrow Agent shall return the Escrowed Funds to the parties from which they were received without interest or deduction.

Termination of Agreement and Resignation of Escrow Agent. 7.1 This Escrow Agreement shall terminate upon disbursement of all of the Investor Relations Held-Back Escrowed Funds, Portion provided that the rights of the Escrow Agent and the obligations of the Seller Company under Section 6 4 shall survive the termination hereof. 7.2 . b. The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Seller Company and Subscriber Representative at least five (5) business days written notice thereof (the “Notice Period”). As soon as practicable after its resignation, the Escrow Agent shall, if it receives a joint notice from the Parties Company within the Notice Period, turn over to a successor escrow agent appointed jointly by the Parties Company all Investor Relations Held-Back Escrowed Funds Portion (less such amount as the Escrow Agent is entitled to retain pursuant to Section 97) upon presentation of the document appointing the new escrow agent and its acceptance thereof. If no new agent is so appointed within the Notice Period, the Escrow Agent shall return the Escrowed Funds to the parties from which they were received without interest or deduction. 6.