Depository Agent Sample Clauses
The Depository Agent clause designates a third party responsible for holding and safeguarding assets, documents, or funds on behalf of the parties involved in an agreement. Typically, this agent ensures that the transfer or release of these items occurs only when specified contractual conditions are met, such as the completion of certain obligations or receipt of required approvals. By appointing a neutral depository agent, the clause provides security and trust between parties, minimizing the risk of non-performance or disputes over the handling of valuable items.
Depository Agent. “Depository Agent” is defined in Section 2.6(a) of the Agreement.
Depository Agent. (a) Duties of the Depository Agent. The Depository Agent shall have no duties or responsibilities other than those expressly set forth in this Agreement, and no implied duties or obligations shall be read into this Agreement against the Depository Agent. The Depository Agent shall have no duty to enforce any obligation of any Person, other than as provided herein. The Depository Agent shall be under no liability to anyone by reason of any failure on the part of any party hereto or any maker, endorser or other signatory of any document or any other person to perform such person's obligations under any such document.
Depository Agent. All payments due under the terms of this Lease shall be made by Lessee to ▇▇▇▇▇ Fargo Bank, NA, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, (“Agent”), which Lessor hereby appoints as Lessor’s agent for the receipt of such payments, or to such other organization as Lessor may from time to time designate by written notice to Lessee. All payments made to Agent shall be considered to have been made to Lessor and, upon making payment to such Agent, Lessee shall be relieved of all responsibility or liability for the’ isbursement thereof. In the event that payments should be made to a transferee because of any transfer of Lessor’s interest in this Lease or the Properties, payments tendered to the Agent shall conclusively be deemed payment to such transferee until Lessee receives notice and sufficient documentation from both Agent and Lessor that Lessor’s interest has been transferred and that payments should be made to any such transferee. Documentation of payments shall be sent directly to Lessor.
Depository Agent. Citibank, N.A. shall serve as the depository agent (the “Depository Agent”) for the Merger under the Exchange Agreement in the form attached hereto as EXHIBIT E (the “Exchange Agreement”).
Depository Agent. The term "
Depository Agent. All payments due to Sublessor under the terms of this Sublease shall be made by Sublessee to ▇▇▇▇▇ Fargo Bank, N.A., ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, which Sublessor hereby appoints as Sublessor’s agent for the receipt of such payments, or to such other organization as Sublessor may from time to time designate ("Agent") by written notice given to Sublessee. All payments made to Sublessor’s Depository Agent as designated by Sublessor shall be considered to have been made to Sublessor, and having made payment to such Agent, Sublessee shall be relieved of all responsibility or liability for the disbursement thereof. Sublessee shall send documentation of payments directly to Sublessor.