Common use of Interpleader Action Clause in Contracts

Interpleader Action. In the event of a dispute under this Addendum, Escrow Agent shall have the right to file an interpleader action in accordance with applicable law, and to deposit the Holdback Amount into the registry of the court. Escrow Agent shall be indemnified and held harmless for its legal fees and costs of such action.

Appears in 2 contracts

Sources: Escrow Holdback Addendum, Escrow Holdback Addendum