Opinion ID: 1189884
Heading Depth: 2
Heading Rank: 2

Heading: The Escrow Agreement

Text: On the same day the 1980 license agreement was executed, the parties also signed what they termed an Escrow Agreement. This escrow agreement set out the terms by which the minute book, stock book, and stock certificates of one Verco Holding Corporation would be held in escrow and delivered to Stani's owner on May 31, 1996 unless Stani defaulted under the 1980 license agreement or other enumerated events occurred. The preamble to the escrow agreement stated, Topps has transferred legal title to the registration in Argentina of the trademarks `Bazooka', `Topps' and related trademarks to the Verco Holding Corp., a New York corporation, all of the capital stock of which is issued in the name of [Stani's owner]. In exchange for the transfer, Stani paid Topps $100,000. Topps, 454 F.Supp.2d at 98.