Common use of Remuneration of Escrow Agent Clause in Contracts

Remuneration of Escrow Agent. Forthwith upon receipt of an invoice therefor, the Company agrees to pay the Escrow Agent’s accounts for time, disbursements and applicable taxes relating to the performance by the Escrow Agent of its duties or rights hereunder or other work incidental to or contemplated pursuant to the terms of this Agreement. Any amount due under this section and unpaid 30 days after request for such payment, will bear interest from the expiration of such period at a rate per annum equal to the then current rate charged by the Escrow Agent, payable on demand. Notwithstanding anything to the contrary herein, the Company and the Director shall be jointly and severally liable to the Escrow Agent for unpaid accounts (including interest thereon) incurred in respect of this Agreement and which are unpaid 45 days after request for such payment.

Remuneration of Escrow Agent. Forthwith upon receipt of an invoice therefor, the Company agrees to pay the Escrow Agent’s accounts for time, disbursements and applicable taxes relating to the performance by the Escrow Agent of its duties or rights hereunder or other work incidental to or contemplated pursuant to the terms of this Agreement. Any amount due under this section and unpaid 30 days after request for such payment, will bear interest from the expiration of such period at a rate per annum equal to the then current rate charged by the Escrow Agent, payable on demand. Notwithstanding anything to the contrary herein, the Company and the Director Consultant shall be jointly and severally liable to the Escrow Agent for unpaid accounts (including interest thereon) incurred in respect of this Agreement and which are unpaid 45 days after request for such payment.