Escrow Agent’s Resignation Sample Clauses
The Escrow Agent’s Resignation clause outlines the process by which the escrow agent may voluntarily step down from their role in managing the escrow arrangement. Typically, this clause specifies the notice period the agent must provide to the parties involved and may detail the procedures for appointing a successor or transferring the escrowed assets. Its core function is to ensure a smooth transition and continued protection of the escrowed property if the current agent can no longer serve, thereby preventing disruption or uncertainty in the escrow process.
Escrow Agent’s Resignation. Escrow Agent may unilaterally resign at any time without prior notice by giving written notice to Issuer, whereupon Issuer will immediately appoint a successor escrow agent.
Escrow Agent’s Resignation. Escrow Agent may unilaterally resign by giving written notice to Issuer, whereupon Issuer will immediately appoint a successor escrow agent. Without limiting the generality of the foregoing, Escrow Agent may terminate this Agreement and thereby unilaterally resign under the circumstances specified in Section 14. Until a successor escrow agent accepts appointment or until another disposition of the subject matter has been agreed upon by the parties, following such resignation notice, Escrow Agent shall be discharged of all of its duties hereunder save to keep the subject matter whole. Even after this Agreement is terminated, certain provisions will remain in effect, including but not limited to items 3, 4, 5, 10, 11, 12, 14, and 15 of this Agreement. Escrow Agent shall be compensated for the services rendered as of the date of the termination or removal.
Escrow Agent’s Resignation. Escrow Agent may unilaterally resign by giving written notice to Issuer, whereupon Issuer will immediately appoint a successor escrow agent. Until a successor escrow agent accepts appointment or until another disposition of the subject matter has been agreed upon by the parties, following such resignation notice, Escrow Agent shall be discharged of all of its duties hereunder save to keep the subject matter whole. Even after this Agreement is terminated, certain provisions will remain in effect, including but not limited to items 3, 4, 5, 10, 11, 12, 14, and 15 of this Agreement. Escrow Agent shall be compensated for the services rendered as of the date of the termination or removal.
Escrow Agent’s Resignation. Escrow Agent may unilaterally resign at any time without prior notice by giving written notice to Issuer, whereupon Issuer will immediately appoint a successor escrow agent. 9. Binding Arbitration, Applicable Law, Venue, and Attorney’s Fees. This Agreement is governed by, and will be interpreted and enforced in accordance with, the laws of the State of Nevada, as applicable, without regard to principles of conflict of laws. Any claim or dispute arising under this Agreement may only be brought in arbitration, pursuant to the rules of the American Arbitration Association, with venue in ▇▇▇▇▇ County, Nevada. The parties consent to this method of dispute resolution, as well as jurisdiction, and consent to this being a convenient forum for any such claim or dispute and waives any right it may have to object to either the method or jurisdiction for such claim or dispute. Furthermore, the prevailing party shall be entitled to recover damages plus reasonable attorney’s fees and costs and the decision of the arbitrator shall be final, binding and enforceable in any court. 10.
Escrow Agent’s Resignation. Escrow Agent may unilaterally resign by giving written notice to Issuer, whereupon Issuer may appoint a successor escrow agent. No such resignation shall be effective, however, until a successor escrow agent appointed in accordance with this Section 9.c accepts such appointment in accordance with Section 9.d below and the Escrow Amount has been delivered to an account or accounts designated by the successor escrow agent in a manner reasonably acceptable to the successor escrow agent and the Issuer, or until another disposition of the subject matter has been agreed upon by the parties. If Issuer does not appoint a successor escrow agent or any such successor escrow agent shall have failed to accept its appointment and delivery of the Escrow Amount thirty (30) days after such notice of resignation is given to the Issuer, the Escrow Agent may, upon ten (10) Business Days’ notice to the Issuer, appoint a successor, provided that such successor accepts such appointment and delivery of the Escrow Amount in accordance with this Section 9.c and Section 9.d below and is reasonably acceptable to the Issuer. Notwithstanding the foregoing, Escrow Agent shall at all times have a duty to keep the subject matter whole.
Escrow Agent’s Resignation. It is understood that ▇▇▇▇▇▇ Agent reserves the right to resign at any time by giving written notice of its resignation, specifying the effective date thereof, to Depositor. Within 30 days after receiving the aforesaid notice, ▇▇▇▇▇▇▇▇▇ agrees to appoint a successor escrow agent to which ▇▇▇▇▇▇ Agent may transfer the Assets then held in the Account, less its unpaid fees, costs and expenses. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 30-day period, ▇▇▇▇▇▇ Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorneys’ fees which Escrow Agent incurs in connection with such a proceeding shall be paid by Depositor.
Escrow Agent’s Resignation. Escrow Agent may resign from its duties under these Escrow Instructions upon delivering to Parent and the Stockholders ten days prior written notice to that effect. Upon such resignation, Parent and the Stockholders shall mutually select a successor to act as the escrow agent under these Escrow Instructions. Notwithstanding the foregoing provisions of this paragraph, Escrow Agent's resignation shall in no event be effective until a successor agrees to act as escrow agent under these Escrow Instructions, provided that if no successor is appointed and acting within ten days after the effectiveness of Escrow Agent's resignation, Escrow Agent may, in its sole and absolute discretion, deliver the Stock Certificates into the court identified in SECTION 5 above.
Escrow Agent’s Resignation. Escrow Agent may unilaterally resign by giving written notice to Issuer, whereupon Issuer will immediately appoint a successor escrow agent. Until a successor escrow agent accepts appointment or until another disposition of the subject matter has been agreed upon by the parties, following such resignation notice, Escrow Agent shall be discharged of all of its duties hereunder save to keep the subject matter whole. Even after this Agreement is terminated, certain provisions will remain in effect, including but not limited to items 3, 4, 5, 10, 11, 12, 14, and 15 of this Agreement. Escrow Agent shall be compensated for the services rendered as of the date of the termination or removal. Binding Arbitration, Applicable Law, Venue, and Attorney’s Fees. This Agreement is governed by, and will be interpreted and enforced in accordance with the laws of the State of Nevada, as applicable, without regard to principles of conflict of laws. Any claim or dispute arising under this Agreement may only be brought in arbitration, pursuant to the rules of the American Arbitration Association, with venue in the city of Las Vegas, Nevada. The parties consent to this method of dispute resolution, as well as jurisdiction, and consent to this being a convenient forum for any such claim or dispute and waives any right it may have to object to either the method or jurisdiction for such claim or dispute. Furthermore, the prevailing party shall be entitled to recover damages plus reasonable attorney’s fees and costs. Limited Capacity of Escrow Agent. This Agreement expressly and exclusively sets forth the duties of Escrow Agent with respect to any and all matters pertinent hereto, and no implied duties or obligations shall be read into this Agreement against Escrow Agent. Escrow Agent acts hereunder as an escrow agent only and is not associated, affiliated, or involved in the business decisions of Issuer, Portal, or Subscriber. Escrow Agent is not responsible or liable in any manner whatsoever for the sufficiency, correctness, genuineness, or validity of the subject matter of this Agreement or any part thereof, or for the form of execution thereof, or for the identity or authority of any person executing or depositing such subject matter. Escrow Agent shall be under no duty to investigate or inquire as to the validity or accuracy of any document, agreement, instruction, or request furnished to it hereunder, including, without limitation, the authority or the identity of any signer t...