Common use of Release of Escrow Clause in Contracts

Release of Escrow. Subject to the provisions of Section 4.2, the Escrow Agent shall release the Escrowed Payment from escrow as follows: Upon receipt by the Escrow Agent of (i) oral instructions from Xxxxx Grin and/or Xxxxxx Grin (each of whom is a director of the Purchaser) consenting to the release of the Escrowed Payment from escrow in accordance with the Disbursement Letter following the Escrow Agent's receipt of the Escrowed Payment, (ii) the Disbursement Letter, and (iii) the Escrowed Payment, the Escrowed Payment shall promptly be disbursed in accordance with the Disbursement Letter. The Disbursement Letter shall include, without limitation, Escrow Agent's authorization to retain from the Escrowed Payment Escrow Agent's fee for acting as Escrow Agent hereunder and both the LCM Payment and the expense reimbursement payment contemplated by Section 2(b) of the Securities Purchase Agreement for delivery to Laurus Capital Management, LLC in accordance with the Disbursement Letter. Upon receipt by the Escrow Agent of a final and non-appealable judgment, order, decree or award of a court of competent jurisdiction (a "Court Order") relating to the Escrowed Payment, the Escrow Agent shall remit the Escrowed Payment in accordance with the Court Order. Any Court Order shall be accompanied by an opinion of counsel for the party presenting the Court Order to the Escrow Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect that the court issuing the Court Order is a court of competent jurisdiction and that the Court Order is final and non-appealable.

Release of Escrow. Subject to the provisions of Section 4.2, the Escrow Agent shall release the Escrowed Payment from escrow as follows: Upon (a) Promptly following receipt by the Escrow Agent of (i) oral copies of the fully executed Documents and this Agreement, (ii) the Escrowed Payment in immediately available funds, (iii) joint written instructions ("Joint Instructions") executed by the Company and the Purchaser setting forth the payment direction instructions with respect to the Escrowed Payment and (iv) Escrow Agent's verbal instructions from Xxxxx Grin and/or Xxxxxx Grin (each of whom is a director of the Purchaser) consenting indicating that all closing conditions relating to the release of Documents have been satisfied and directing that the Escrowed Payment from escrow be disbursed by the Escrow Agent in accordance with the Disbursement Letter following the Escrow Agent's receipt of the Escrowed PaymentJoint Instructions, (ii) the Disbursement Letter, and (iii) the Escrowed Payment, then the Escrowed Payment shall be deemed released from escrow and shall be promptly be disbursed in accordance with the Disbursement LetterJoint Instructions. The Disbursement Letter Joint Instructions shall include, without limitation, Escrow Agent's authorization to retain from the Escrowed Payment Escrow Agent's fee for acting as Escrow Agent hereunder and both the LCM Closing Payment and the expense reimbursement payment contemplated by Section 2(b) of the Securities Purchase Agreement for delivery to Laurus Capital Management, LLC in accordance with the Disbursement LetterJoint Instructions. (b) Upon receipt by the Escrow Agent of a final and non-appealable judgment, order, decree or award of a court of competent jurisdiction (a "Court Order") relating to the Escrowed Payment, the Escrow Agent shall remit the Escrowed Payment in accordance with the Court Order. Any Court Order shall be accompanied by an opinion of counsel for the party presenting the Court Order to the Escrow Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect that the court issuing the Court Order is a court of competent jurisdiction and that the Court Order is final and non-appealable. 3.2.

Release of Escrow. Subject to the provisions of Section 4.2, the Escrow Agent shall release the Escrowed Payment from escrow as follows: Upon receipt by the Escrow Agent of (i) oral instructions from Xxxxx Grin and/or Xxxxxx Grin (each of whom is a director principal of the PurchaserPurchasers) consenting to the release of the Escrowed Payment from escrow in accordance with the Disbursement Letter following the Escrow Agent's ’s receipt of the Escrowed Payment, (ii) the Disbursement Letter, and (iii) the Escrowed Payment, the Escrowed Payment shall promptly be disbursed in accordance with the Disbursement Letter. The Disbursement Letter shall include, without limitation, Escrow Agent's ’s authorization to retain from the Escrowed Payment Escrow Agent's ’s fee for acting as Escrow Agent hereunder and both the LCM Closing Payment and the expense reimbursement payment contemplated by Section 2(b) of the Securities Purchase Agreement for delivery to Laurus Valens Capital Management, LLC in accordance with the Disbursement Letter. Upon receipt by the Escrow Agent of a final and non-appealable judgment, order, decree or award of a court of competent jurisdiction (a "“Court Order"”) relating to the Escrowed Payment, the Escrow Agent shall remit the Escrowed Payment in accordance with the Court Order. Any Court Order shall be accompanied by an opinion of counsel for the party presenting the Court Order to the Escrow Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect that the court issuing the Court Order is a court of competent jurisdiction and that the Court Order is final and non-appealable.

Release of Escrow. Subject to the provisions of Section 4.2, the Escrow Agent shall release the Escrowed Payment from escrow as follows: Upon (a) Promptly following receipt by the Escrow Agent of (i) oral copies of the fully executed Documents and this Agreement, (ii) the Escrowed Payment in immediately available funds, (iii) joint written instructions ("Joint Instructions") executed by the Company and the Purchaser setting forth the payment direction instructions with respect to the Escrowed Payment and (iv) Escrow Agent's verbal instructions from Xxxxx David Grin and/or Xxxxxx Eugene Grin (each of whom is a director of the PurchaserXxxxxaser) consenting indicatxxx xxat all closing conditions relating to the release of Documents have been satisfied and directing that the Escrowed Payment from escrow be disbursed by the Escrow Agent in accordance with the Disbursement Letter following the Escrow Agent's receipt of the Escrowed PaymentJoint Instructions, (ii) the Disbursement Letter, and (iii) the Escrowed Payment, then the Escrowed Payment shall be deemed released from escrow and shall be promptly be disbursed in accordance with the Disbursement LetterJoint Instructions. The Disbursement Letter Joint Instructions shall include, without limitation, Escrow Agent's authorization to retain from the Escrowed Payment Escrow Agent's fee for acting as Escrow Agent hereunder and both the LCM Closing Payment and the expense reimbursement payment contemplated by Section 2(b) of the Securities Purchase Agreement for delivery to Laurus Capital Management, LLC in accordance with the Disbursement LetterJoint Instructions. (b) Upon receipt by the Escrow Agent of a final and non-appealable judgment, order, decree or award of a court of competent jurisdiction (a "Court Order") relating to the Escrowed Payment, the Escrow Agent shall remit the Escrowed Payment in accordance with the Court Order. Any Court Order shall be accompanied by an opinion of counsel for the party presenting the Court Order to the Escrow Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect that the court issuing the Court Order is a court of competent jurisdiction and that the Court Order is final and non-appealable. 3.2.

Release of Escrow. Subject to the provisions of Section 4.2, the Escrow Agent shall release the Escrowed Payment from escrow as follows: Upon Promptly following receipt by the Escrow Agent of (i) oral copies of the fully executed Documents and this Agreement, (ii) the Escrowed Payment in immediately available funds, (iii) joint written instructions (“Joint Instructions”) executed by the Company and the Purchaser setting forth the payment direction instructions with respect to the Escrowed Payment and (iv) Escrow Agent’s verbal instructions from Xxxxx Dxxxx Grin and/or Xxxxxx Exxxxx Grin (each of whom is a director of the Purchaser) consenting indicating that all closing conditions relating to the release of Documents have been satisfied and directing that the Escrowed Payment from escrow be disbursed by the Escrow Agent in accordance with the Disbursement Letter following the Escrow Agent's receipt of the Escrowed PaymentJoint Instructions, (ii) the Disbursement Letter, and (iii) the Escrowed Payment, then the Escrowed Payment shall be deemed released from escrow and shall be promptly be disbursed in accordance with the Disbursement LetterJoint Instructions. The Disbursement Letter Joint Instructions shall include, without limitation, Escrow Agent's ’s authorization to retain from the Escrowed Payment Escrow Agent's ’s fee for acting as Escrow Agent hereunder and both the LCM Closing Payment and the expense reimbursement payment contemplated by Section 2(b) of the Securities Purchase Agreement for delivery to Laurus Capital Management, LLC in accordance with the Disbursement LetterJoint Instructions. Upon receipt by the Escrow Agent of a final and non-appealable judgment, order, decree or award of a court of competent jurisdiction (a "“Court Order"”) relating to the Escrowed Payment, the Escrow Agent shall remit the Escrowed Payment in accordance with the Court Order. Any Court Order shall be accompanied by an opinion of counsel for the party presenting the Court Order to the Escrow Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect that the court issuing the Court Order is a court of competent jurisdiction and that the Court Order is final and non-appealable.