Amendment to the Escrow Agreement. The Investor, the Company and the Vendor will procure JB to prepare an amended Escrow Agreement with all amendments reasonably required in order to carry into effect, or consequential upon, the further variation and the novation of the Letter of Offer as provided for in the Amendment and Novation Agreement, and shall sign the same (and the Investor and the Company shall procure that the same shall also be signed by the other parties to the Escrow Agreement) no later than 20 September 2010 (or such later date as may be agreed in writing by the parties). If no such amended Escrow Agreement has been signed on or before 20 September 2010 (or such later date as may be agreed in writing by the parties), the Amendment and Novation Agreement shall become null and void.
Amendment to the Escrow Agreement. Section 2(b) of the Escrow Agreement is hereby amended by deleting said section in its entirety and inserting the following in lieu thereof:
Amendment to the Escrow Agreement. The first sentence of Section 1.07 of the Escrow Agreement is hereby amended in its entirety to read in full as follows: “Except as otherwise provided in this Escrow Agreement and Article X of the Purchase Agreement, the Cash Escrow shall terminate at 11:59 p.m. Pacific Time on the earlier of (i) thirty (30) days following the filing of ISC’s consolidated financial statements with the SEC which include Optex’s revenues for the quarter ended December 31, 2005 or (ii) ninety (90) days after the Closing (the “Cash Escrow Termination Date”), and the Stock Escrow shall terminate at 11:59 p.m. Pacific Time on December 29, 2006 (the “Stock Escrow Termination Date”).”
Amendment to the Escrow Agreement. The parties hereto agree that the Escrow Agreement shall be amended as set forth in this Section 1.1. Section 3.1 of the Escrow Agreement is hereby amended and restated in its entirety as follows: “The Underwriter shall promptly deliver to the Escrow Agent all monies in the form of checks or wire transfers which it receives from prospective purchasers of the Securities by noon of the next business day following receipt where internal supervisory review is conducted at the same location at which subscription documents and monies are received. Upon the Escrow Agent’s receipt of such monies, they shall be credited to the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “CST&T Hailiang Education Group Inc. Escrow Account.” Any check payable other than to the Escrow Agent as required hereby shall be returned to the prospective purchaser, or if the Escrow Agent has insufficient information to do so, then to the Underwriter (together with any Subscription Information, as defined below or other documents delivered therewith) by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered to the Escrow Agent pursuant to the terms of this Agreement.”
Amendment to the Escrow Agreement. The Purchaser, the New Buyer and the Company (collectively, the “Parties”) shall procure the Escrow Agent to prepare an amended Escrow Agreement with all amendments reasonably required in order to carry into effect, or consequential upon, the further variation and the novation of the Agreement as provided for in the Amendment and Novation Agreement, and shall sign the same (and the Purchaser and the New Buyer shall procure that the same shall also be signed by the other parties to the Escrow Agreement) no later than 20 September 2010 (or such later date as may be agreed in writing by the Parties). If no such amended Escrow Agreement has been signed on or before 20 September 2010 (or such later date as may be agreed in writing by the Parties) by the Parties and the other parties to the Escrow Agreement and also, if necessary the New Buyer, the Amendment and Novation Agreement shall become null and void.
Amendment to the Escrow Agreement. Section 4.1 of the Escrow Agreement is hereby deleted in its entirety and replaced with the following:
