Procedure for Termination of Escrow. Upon any termination of this Agreement, Sellers and Buyer shall each promptly give Escrow Agent written instructions to cancel Escrow and disburse all funds and documents (if any) then held in Escrow in accordance with the provisions of this Agreement. If the Parties give Escrow Agent conflicting instructions regarding cancellation of Escrow or disposition of any funds or documents in Escrow, or if one Party gives Escrow Agent instructions to terminate Escrow and the other Party fails to give any instruction, then:
Appears in 3 contracts
Samples: Agreement for Purchase and Sale (Capital Lodging), Domain Name Assignment Agreement (Capital Lodging), Agreement for Purchase and Sale (Capital Lodging)
Procedure for Termination of Escrow. Upon any termination of this Agreement, Sellers Seller and Buyer shall each promptly give Escrow Agent written instructions to cancel terminate Escrow and disburse the Deposit and all other funds and documents items (if any) then held in by Escrow Agent in accordance with the provisions of this Agreement. If the Parties give Escrow Agent conflicting instructions regarding cancellation or if, upon termination of Escrow or disposition of any funds or documents in Escrowthis Agreement, or if one Party gives Escrow Agent instructions to terminate Escrow and the other either Party fails to give any instruction, thenEscrow Agent written instructions within a reasonable time to terminate Escrow:
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (Chesapeake Lodging Trust), Agreement of Purchase and Sale (Apple REIT Seven, Inc.)
Procedure for Termination of Escrow. Upon If this Agreement is terminated any termination of this Agreementtime after the Approval Date, Sellers Seller and Buyer shall each promptly give Escrow Agent written instructions to cancel Escrow and disburse the Deposit and all other funds and documents items (if any) then held in Escrow in accordance with the provisions of this Agreement. If If, following termination of this Agreement, the Parties give Escrow Agent conflicting instructions regarding cancellation or one of Escrow or disposition of any funds or documents in Escrow, or if one Party gives Escrow Agent instructions to terminate Escrow and the other Party Parties fails to give any instruction, thenEscrow Agent instructions:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Highland Hospitality Corp)
Procedure for Termination of Escrow. Upon any termination of this Agreement, Sellers Seller and Buyer shall each promptly give Escrow Agent written instructions to cancel Escrow and disburse the Deposit and all other funds and documents (if any) then held in Escrow in accordance with the provisions of this Agreement. If the Parties give Escrow Agent conflicting instructions regarding cancellation of Escrow or disposition of the Deposit (or any other funds or documents in Escrow), or of if one Party gives Escrow Agent instructions to terminate Escrow and the other Party fails to give any instruction, then:
Appears in 1 contract
