Release Procedure. Release of cash amounts shall be made by a wire transfer, to the bank account of the party entitled to receive such payment. The Escrow Agent shall, promptly after each release or disbursement of the Escrow Funds set forth herein, deliver to Seller and Buyer a notice setting forth the aggregate amount of the Escrow Funds so released or disbursed to Seller or Buyer and the balance of the Escrow Funds as of such date.
Appears in 3 contracts
Sources: Intellectual Property and Technology Purchase Agreement, Intellectual Property and Technology Purchase Agreement (Win Gaming Media, Inc.), Intellectual Property and Technology Purchase Agreement (Win Gaming Media, Inc.)