Agenda 04/27/1999 - Laserfiche WebLink

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Agent in payment of invoices from the manufacturers or suppliers of the Equipment for. the purchase price therefor and for other Costs of the Equipment in accordance with the provisions set forth below; provided; however, that disbursement from the Escrow Fund shall only be made upon receipt of a completed and signed Requisition From Escrow Fund form and a completed and signed Acceptance Certificate for each item of Equipment covered by such Requisition From Escrow Fund. No manufacturer, supplier or other vendor is intended or shall receive any rights hereunder or pursuant to any acceptance or partial acceptance of the Equipment, including without limitation, as a third party beneficiary, or otherwise. All disbursements hereunder shall be made pursuant 'to the form of Requisition From Escrow Fund attached hereto. Interest earned on the Escrow Fund shall be disbursed by the Escrow Agent upon the termination 'of the Escrow Fund and the final distribution'of the Escrow Fund in the following order: First, to the payment of all or part of the interest portion of the Lessee's ' next scheduled rental payment as set forth in Schedule B; or second, as a credit towards payment of the remaining principal obligations of the Lessee under this Agreement. Termination. This Escrow shall be terminated at the earlier of: (a)the final distribution of principal of the Escrow Fund; (b) written notice given by the Lessee of its election to terminate the Escrow Fund is received by the Escrow Agent and the Lessor; (c) written notice given by the Lessor of claimed default by the Lessee under this Agreement is received by the Escrow Agent and the Lessee; or (d) the date of expiration of the Lessor's obligations under the provisions stated in this Agreement. Upon the termination of the Escrow Fund, any moneys remaining therein shall be delivered to the Lessor and applied by the Lessor to the credit of any sums due or to become due to the Lessor from the Lessee under this Agreement. Reliance of Escrow Agent on Documents. The Escrow Agent may act in reliance upon any writing or instrument or signature which it, in good faith, believes to be genuine; may assume the validity and accuracy of any statement or assertion contained in such a writing or instrument, and may assume that any official designated in the General Certificate of the Lessee executed in connection with the transaction described in this Agreement purporting to give any writing, notice, advice, or instructions in connection with the provisions hereof has been duly authorized to do so. The Escrow Agent shall not be liable in any manner for the sufficiency or correctness as to form, manner and execution, or validity of any instrument deposited in the Escrow Fund, nor as to the identity, authority, or right of any person executing the same; and its duties hereunder shall be limited to the receipt of such monies, instruments or other documents received by it as the Escrow Agent, and for the disposition of the same in accordance herewith. Indemnification of the Escrow Agent. Unless the Escrow Agent is guilty of willful misconduct with regard to his duties hereunder, the Lessor and the Lessee hereby agree to indemnify the Escrow Agent and hold it harmless to the extent permitted by law from any and all claims, liabilities, losses, actions, suits or proceedings at law or in equity, or any other expense, fees, or charges of any character or nature, which it may incur or with which it may be threatened by reason of acting as the Escrow Agent under the Escrow