Default Escrow Agent Clause Samples

Default Escrow Agent. 2.1.1 Appointment as agent The Procurer has appointed [insert name of Escrow Agent] as the Default Escrow Agent for the purposes of this Agreement. The Seller hereby accepts the appointment of the [insert name of Escrow Agent], through its [insert location] branch, as the Escrow Agent and who shall act as agent of the Procurer and the Seller in connection with this Agreement and the Agreement to Hypothecate Cum Deed of Hypothecation for the purposes and in accordance with the terms and provisions set forth herein and therein. The Subsidiary ▇▇▇▇▇▇ Agent accepts the appointment of the Default Escrow Agent and agrees to take instructions from him for the purposes of meeting their respective obligations under this Agreement.