Examples of Escrow Funds in a sentence
Escrow Agent’s sole responsibility shall be for the safekeeping and disbursement of the Escrow Funds in accordance with the terms of this Escrow Agreement.
Escrow Agent shall not be obligated to take any legal action or commence any proceeding in connection with the Escrow Funds, any account in which Escrow Funds are deposited, this Escrow Agreement or the Offering Document, or to appear in, prosecute or defend any such legal action or proceeding.
Escrow Agent’s duties under this Agreement shall terminate upon Escrow Agent’s disbursement of all Escrow Funds in accordance with this Agreement.
In the event that Escrow Agent deems itself uncertain in its sole reasonable discretion at any time with regard to the disposition of the Escrow Funds, Escrow Agent may, at its election, deposit the Escrow Funds into the registry or custody of any court of competent jurisdiction, together with such legal pleadings as it may deem appropriate, and interplead the parties hereto.
In either event, the duties of Escrow Agent shall terminate thirty (30) days after the date of such notice (or as of such earlier date as may be mutually agreeable) and Escrow Agent shall then remit the Escrow Funds then in its control to a successor escrow agent appointed by both Seller and Xxxxxxxxx (as evidenced by a jointly-signed written notice filed with Escrow Agent).