Disbursement of Deposit. Escrow Agent is hereby authorized to make disbursements of the Deposit only as follows:
Disbursement of Deposit. If Escrow Agent receives a notice from either party instructing Escrow Agent to deliver the Deposit to such party, Escrow Agent shall deliver a copy of the notice to the other party within three (3) business days after receipt of the notice. If the other party does not object to the delivery of the Deposit as set forth in the notice within three (3) business days after receipt of the copy of the notice, Escrow Agent shall, and is hereby authorized to, deliver the Deposit to the party requesting it pursuant to the notice. Any objection hereunder shall be by notice setting forth the nature and grounds for the objection and shall be sent to Escrow Agent and to the party requesting the Deposit.
Disbursement of Deposit. The Deposit shall be held by Escrow Agent, in trust, and disposed of only in accordance with the following provisions:
Disbursement of Deposit. Escrow Agent shall hold and disburse the Deposit upon the following terms and conditions:
Disbursement of Deposit. If Escrow Agent receives a notice from a party hereunder instructing Escrow Agent to deliver the Refundable Deposit, the Non-Refundable Deposit or the Deposit in its entirety to such party, as applicable, Escrow Agent shall deliver a copy of the notice to the other party within three (3) days after receipt of the notice. If the other party does not object to the delivery of the Refundable Deposit, the Non-Refundable Deposit or the Deposit in its entirety as aforesaid within three (3) business days after receipt of the copy of the notice, Escrow Agent shall, and is hereby authorized to, deliver the Refundable Deposit, the Non-Refundable Deposit or the Deposit in its entirety, as applicable, to the party requesting it pursuant to the notice. Any objection hereunder shall be by written notice setting forth the nature and grounds for the objection and shall be sent to Escrow Agent and to the party requesting the Refundable Deposit, the Non-Refundable Deposit or the Deposit in its entirety, as applicable. Notwithstanding anything herein to the contrary, upon a termination of this Agreement by Purchaser pursuant to Section 5.3 (for any reason other than a Material Title Defect or a Material Environmental Issue), (i) Purchaser’s consent shall not be required for the delivery of the Non-Refundable Deposit to Seller, if applicable, and (ii) subject to Seller’s prior receipt of the Rule 3-14 Reimbursements (as defined in Section 16.22), if applicable, Seller’s consent shall not be required for the return of the Refundable Deposit to Purchaser, if applicable, and Escrow Agent is authorized to promptly pay the Non-Refundable Deposit to Seller and, subject as aforesaid with respect to Seller’s receipt of payment of the Rule 3-14 Reimbursements (if applicable) the Refundable Deposit to Purchaser in the event of such termination without requiring anything further hereunder.
Disbursement of Deposit. Section 11.1. All work for the making of repairs as required by Section 6.1, for complying with laws, ordinances, orders, regulations or requirements as required by Section 7.1, for making changes or alterations if permitted by Lessor pursuant to Section 8.1 (each hereinafter in this Article called "the Work") shall be done in all cases subject to the following conditions which the Lessee covenants to observe and perform:
Disbursement of Deposit. 21 SECTION 4.4
Disbursement of Deposit. Seller and Buyer shall provide joint written instructions to Escrowee in customary form mutually approved by Seller and Buyer, each of whose approval shall not be unreasonably withheld (the "Recording Instructions"), which shall among other things, govern the disbursement of the Deposit and the payment for and obtaining the Title Policies, and other escrow and related charges; provided, however, that such Recording Instructions shall provide that the Deposit, together with any interest or other payments thereon, shall be disbursed to Seller on the Closing Date. The Recording Instructions shall comply with all applicable Code provisions. The Escrowee shall be designated as the "reporting party" for purposes of the Code. The Recording Instructions are intended to carry out the intent of this Agreement and shall not be inconsistent with this Agreement.
Disbursement of Deposit. 15 9.5 No Effect on Rights of Parties; Survival.........................15 ARTICLE X DEFAULT.............................................................15
Disbursement of Deposit a. In the event that any Purchaser Indemnitee is entitled to indemnification under the terms of Article XI of the Merger Agreement, such Purchaser Indemnitee (an “Indemnified Party”) shall give the Escrow Agent and the Stockholders’ Representative prompt notice of such claim (a “Claim”) against the Escrow Shares in accordance with Section 16 of this Agreement. Such notice shall describe, in reasonable detail, the Loss that has been or may be suffered by the Indemnified Party. Unless the Escrow Agent receives a timely Objection Notice (as defined below) from the Stockholders’ Representative pursuant to Section 6, the Escrow Agent shall disburse the amount of Escrow Shares specified in the Claim notice as directed therein.
