Common use of Duties and Responsibilities of Escrow Agent Clause in Contracts

Duties and Responsibilities of Escrow Agent. The duties and obligations of the Escrow Agent are only those specifically set forth in this Section and no other. The Escrow Agent’s duties are ministerial, and the Escrow Agent shall not incur any liability whatsoever for any error of judgment, any mistake of fact or law or any act or omission of any kind, so long as it has acted in good faith.

Duties and Responsibilities of Escrow Agent. The Escrow Agent shall be under no responsibility in respect of any of the items deposited with it other than to faithfully follow the instructions herein contained. The duties and obligations of the Escrow Agent are only those such as are herein specifically set forth provided, being purely ministerial in this Section and no other. The Escrow Agent’s duties are ministerialnature, and the Escrow Agent shall not incur any no liability whatsoever except for any error of judgmentgross negligence, any mistake of fact willful misconduct or law or any act or omission of any kind, so long as it has acted in good faithfraud.