In Interpleader Actions Sample Clauses

The "In Interpleader Actions" clause defines the procedures and responsibilities of parties involved when a stakeholder initiates an interpleader action, typically to resolve competing claims over the same property or funds. This clause outlines how the stakeholder may deposit the disputed assets with the court and be discharged from further liability, while the claimants are left to litigate their respective rights. Its core function is to protect the stakeholder from multiple liabilities and streamline the resolution of conflicting claims by centralizing the dispute in a single legal proceeding.
In Interpleader Actions. If a principal broker holding the ▇▇▇▇▇▇▇ Money Deposit is required by law to file an interpleader action in court to resolve a dispute over that Deposit, Buyer and Seller authorize that principal broker to draw from that Deposit an amount necessary to advance the court costs needed to bring that interpleader action. The amount of the Deposit remaining after advancing those costs shall be interpleaded into court. Buyer and Seller further agree that whichever of them is found to be in default may be ordered to pay any reasonable attorney fees, or additional court costs, incurred by the principal broker in bringing the action, unless the court finds that there was fault on the part of the principal broker or his or her agent that would make such an award of attorney fees and costs unjust.
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Related to In Interpleader Actions

  • Interpleader Should any controversy arise among the parties hereto with respect to this Agreement or with respect to the right to receive the Escrow Amount, the Escrow Agent shall have the right to consult counsel and/or to institute an appropriate interpleader action to determine the rights of the parties. The Escrow Agent is also hereby authorized to institute an appropriate interpleader action upon receipt of a written letter of direction executed by the parties so directing Escrow Agent. If the Escrow Agent is directed to institute an appropriate interpleader action, it shall institute such action not prior to thirty (30) days after receipt of such letter of direction and not later than sixty (60) days after such date. Any interpleader action instituted in accordance with this Section 6 shall be filed in any court of competent jurisdiction in New York, New York, and the Escrow Amount in dispute shall be deposited with the court and in such event Escrow Agent shall be relieved of and discharged from any and all obligations and liabilities under and pursuant to this Agreement with respect to the Escrow Amount.

  • Other Action If the Corporation, after the date hereof, shall take any action affecting the Common Shares other than action described in Section 4.1, which in the reasonable opinion of the directors of the Corporation would materially affect the rights of Registered Warrantholders, the Exercise Price and/or Exchange Rate, the number of Common Shares which may be acquired upon exercise of the Warrants shall be adjusted in such manner and at such time, by action of the directors, acting reasonably and in good faith, in their sole discretion as they may determine to be equitable to the Registered Warrantholders in the circumstances, provided that no such adjustment will be made unless any requisite prior approval of any stock exchange on which the Common Shares are listed for trading has been obtained.

  • Other Actions In order to further insure the attachment, perfection and priority of, and the ability of the Collateral Agent to enforce, the Security Interest, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral:

  • COURT ACTION If a judgment of dissolution of marriage is obtained by either ▇▇▇▇▇▇, the original of this Agreement shall be attached to the judgment. The court shall be requested to do the following: a.) Approve the entire Agreement as fair and equitable; b.) Order the Couple to comply with all of its executory provisions; c.) Merge the provisions relating to child custody and visitation, Child Support, Spousal Support, future acts with respect to property division, attorney fees and costs, and income tax, and only those provisions, into the judgment; and d.) Incorporate the remainder of the Agreement in the judgment for the sole purpose of identification.

  • Further Action The parties shall execute and deliver all documents, provide all information and take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement.