Interpleader Action definition
Examples of Interpleader Action in a sentence
If a dispute arises between the parties as to the disposition of the Deposit, the Escrow Agent shall: (i) hold the Deposit until the Escrow Agent has received releases signed by all parties to the transaction authorizing disposition of the Deposit, or (ii) hold the Deposit until such time as one of the parties to the transaction files suit and the court in which the suit is filed orders the disbursement of the Deposit, or (iii) deliver such Deposit into the court by filing an Interpleader Action.
If a dispute arises between the parties as to the disposition of the Deposit, the Escrow Agent shall: (a) hold the Deposit until the Escrow Agent has received releases signed by all parties to the transaction authorizing disposition of the Deposit, or (b) hold the Deposit until such time as one of the parties to the transaction files suit and the court in which the suit is filed orders the disbursement of the Deposit, or (c) deliver such Deposit into the court by filing an Interpleader Action.
In the event both Seller and Buyer cannot agree on the disposition of the ▇▇▇▇▇▇▇ money deposit, the Broker holding the ▇▇▇▇▇▇▇ money deposit shall be authorized to Interplead the disputed portion of ▇▇▇▇▇▇▇ money deposit into a court of competent jurisdiction and shall be entitled to be compensated by the party who does not prevail in the Interpleader Action for its costs andexpenses, including reasonable attorney's fees incurred in filing said Interpleader.
Except for the Escrow Agent’s right to file an Interpleader Action, this Agreement and the legal relations among the Parties hereto shall be governed by and construed in accordance with the laws of the State of Colorado and that the State or Federal Courts of Denver, Colorado shall be the jurisdiction in which any legal proceedings relative to this Agreement shall be brought.
Spirit Bear Limited, ▇▇▇▇▇▇ and Olins 14-cv-9175 (PGG) (S.D.N.Y.) (the “SDNY Matter”) by no later than June 1, 2015, HPEV and Spirit Bear, and the assignees and representatives of each, agree to dismiss (or, as with respect to the Interpleader Action, cause to be dismissed) without prejudice the Lawsuits (including to the extent permissible by law the Shareholder Derivative Claims as addressed in Exhibit A), each Party to bear its own costs, expenses and attorneys’ fees in connection therewith.
Upon the Registration Date, HPEV and Spirit Bear, and the assignees and representatives of each, agree to dismiss (or, as with respect to the Interpleader Action, cause to be dismissed) with prejudice the Lawsuits (including to the extent permissible by law the Shareholder Derivative Claims as addressed in Exhibit A), each Party to bear its own costs, expenses and attorneys’ fees in connection therewith.
In addition, the Zealous/▇▇▇▇ Parties agree not to hold PST accountable if they disagree with the judgment of the court in the Interpleader Action, and shall look solely to other parties for recourse, if any, they may have in connection with the outcome of the Interpleader Action.
Each party hereto agrees that the Escrow Agent may deduct the cost of bringing up such Interpleader Action from the monies held in escrow prior to the forwarding of same to the Clerk of such Court.
The term "Interpleader Action" means that certain Complaint in Interpleader Pursuant to 28 U.S.C. ss.
The Escrow Agent shall have the right to file an Interpleader Action in the Colorado State courts should any dispute arise between the parties as to the right, title or interest in any funds or securities deposited with the Escrow Agent as a result of this Agreement.