Common use of Settlement Obligations Clause in Contracts

Settlement Obligations. Each of the Parties shall have the following settlement obligations: (a) Upon execution of this Agreement by all of the Parties, iGo shall deliver $350,000 to the Attorney-Client Trust Account of Walter G. Koontz, Jr., for and on behalf of Rapparport, XMicro, and ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇e transfer of immediately available funds (the "Non-Refundable Payment"). Counsel for XMicro and Rapparport shall provide confidential wire routing instructions forthwith to such persons designated by iGo to carry out the transfer. (b) Upon execution of this Agreement by the all of the Parties: (i) iGo, Rapparport, XMicro and U.S. Stock Transfer Corporation ("Custodian") shall execute and deliver to each other the Depository Agreement, in substantially the form attached hereto as Exhibit A (the "Depository Agreement"), (ii) XMicro and Rapparport shall deliver to Custodian under the Depository Agreement certificates representing 3,531,199 shares of common stock, par value $0.001 per share, of iGo (the "Shares"), together with stock powers for each certificate, executed in blank; and (iii) iGo shall deliver $1,500,000 to Custodian, by wire transfer of immediately available funds (collectively, the "Deposited Items"). The Custodian shall hold the Deposited Items in accordance with the terms of the Depository Agreement.

Settlement Obligations. Each of the Parties shall have the following settlement obligations: (a) Upon execution of this Agreement by all of the Parties, iGo shall deliver $350,000 to the Attorney-Client Trust Account of Walter G. KoontzW▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Jr.▇▇., for and on behalf of Rapparport, XMicro, and ▇▇▇▇▇ ▇▇▇▇▇▇▇their counsel, ▇▇ ▇▇▇e by wire transfer of immediately available funds (the "Non-Refundable Payment"). Counsel for XMicro and Rapparport shall provide confidential wire routing instructions forthwith to such persons designated by iGo to carry out the transfer. (b) Upon execution of this Agreement by the all of the Parties: (i) iGo, Rapparport, XMicro and U.S. Stock Transfer Corporation ("Custodian") shall execute and deliver to each other the Depository Agreement, in substantially the form attached hereto as Exhibit EXHIBIT A (the "Depository Agreement"), (ii) XMicro and Rapparport shall deliver to Custodian under the Depository Agreement certificates representing 3,531,199 shares of common stock, par value $0.001 per share, of iGo (the "Shares"), together with stock powers for each certificate, executed in blank; and (iii) iGo shall deliver $1,500,000 to Custodian, by wire transfer of immediately available funds (collectively, the "Deposited Items"). The Custodian shall hold the Deposited Items in accordance with the terms of the Depository Agreement.