Common use of Instructions to Escrow Holder Clause in Contracts

Instructions to Escrow Holder. The Escrow Holder is hereby directed to permit transfer of the Restricted Shares only in accordance with this Agreement or in accordance with instructions which are consistent with this Agreement which are signed by both parties. In the event further instructions are reasonably desired by the Escrow Holder, he or she shall be entitled to conclusively rely upon directions executed by a majority of the members of the Board. The Escrow Holder shall have no liability for any act or omissions hereunder while acting in good faith in the exercise of his or her own judgment.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Isco International Inc), Restricted Stock Award Agreement (Isco International Inc), Employment Agreement (Isco International Inc)

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Instructions to Escrow Holder. The Escrow Holder is hereby ----------------------------- directed to permit transfer of the Restricted Shares Stock only in accordance with this Agreement or in accordance with instructions which are consistent with this Agreement which are signed by both parties. In the event that further instructions are reasonably desired by the Escrow Holder, he or she shall be entitled to conclusively rely upon directions executed by a majority of the members authorized number of the BoardCompany's Board of Directors. The Escrow Holder shall have no liability for any act or omissions omission hereunder while acting in good faith in the exercise of his or her own judgment.

Appears in 1 contract

Samples: Shareholders Agreement (Nierenberg Nicolas)

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