Deposit with Escrow Agent. (a) The Escrow Agent agrees that it will from time to time accept, in its capacity as escrow agent, subscription funds for the Shares (the "Escrowed Funds") in the form of checks received by the Company from subscribers. All checks shall be made payable to the Escrow Agent. If any check does not clear normal banking channels in due course, the Escrow Agent will promptly notify the Company. Any check which does not clear normal banking channels and is returned by the drawer's bank to Escrow Agent will be promptly turned over to the Company along with all other subscription documents relating to such check. Any check received that is made payable to a party other than the Escrow Agent shall be returned to the Company for return to the proper party. The Company in its sole and absolute discretion may reject any subscription for shares for any reason and upon such rejection it shall notify and instruct the Escrow Agent in writing to return the Escrowed Funds by check made payable to the subscriber. If the Company rejects or cancels any subscription for any reason the Company will retain any interest earned on the Escrowed Funds to help defray organizational costs.
Deposit with Escrow Agent. (a) The Escrow Agent agrees that it will from time to time accept, from the Company in its capacity as escrow agent, subscription funds for the Shares (the "Escrowed Funds") in the form of checks received by the Company from subscribers. All checks shall be made payable to the Escrow Agent. If any check does not clear normal banking channels in due course, the Escrow Agent will promptly notify the Company. Any check which does not clear normal banking channels and is returned by the drawer's bank to Escrow Agent will be promptly turned over to the Company along with all other subscription documents relating to such check. Any check received that is made payable to a party other than the Escrow Agent shall be returned to the Company for return to the proper party. The Company in its sole and absolute discretion may reject any subscription for shares for any reason and upon such rejection it shall notify and instruct the Escrow Agent in writing to return the Escrowed Funds by check made payable to the subscriber.
Deposit with Escrow Agent. (a) The Escrow Agent agrees that it will from time to time accept, in its capacity as escrow agent, subscription funds for the Shares (the "Escrowed Funds") received by it from subscribers, the Sales Agent, or the Company when it has received checks from subscribers. All checks shall be made payable to the Escrow Agent. If any check does not clear normal banking channels in due course, the Escrow Agent will promptly notify the Company and the Sales Agent. Any check which does not clear normal banking channels and is returned by the drawer's bank to Escrow Agent will be promptly turned over to the Sales Agent, along with all other subscription documents relating to such check. Any check received that is made payable to a party other than the Escrow Agent shall be returned to the Sales Agent for return to the proper party. The Company in its sole and absolute discretion may reject any subscription for Shares for any reason and upon such rejection it shall notify and instruct the Escrow Agent in writing to return the Escrowed Funds by check made payable to the subscriber. If the Company rejects or cancels any subscription for any reason the Company will retain any interest earned on the Escrowed Funds to help defray organizational costs.
Deposit with Escrow Agent. At Closing of the sale and purchase of ------------------------- stock as provided in the Purchase Agreement, Purchaser shall deliver to the Escrow Agent the sum of One Million Dollars ($1,000,000) to be held, administered and distributed by the Escrow Agent pursuant to the terms of this Escrow Agreement.
Deposit with Escrow Agent. The Escrow Agent agrees to accept and hold, from time to time, funds that shall be delivered to the Escrow Agent. The Escrow Agent shall place the escrow deposits in an interest-bearing account captioned "Sterling Trust Company, Escrow Agent fbo Zion Oil Subscribers" and will hold the funds for safekeeping. All checks delivered to the Escrow Agent shall be made payable to "Sterling Trust Company, Escrow Agent fbo Zion Oil Subscribers." Subscribers' checks will be transmitted to the Escrow Agent by noon of the next business day after receipt by broker/dealers. The funds will be held along with other escrow funds and the Escrow Agent will be responsible for subaccounting each account balance and the interest earned thereon. The Escrow Agent agrees that it shall only deposit into the Escrow Account checks made payable to the Escrow Agent and will promptly return any check which it receives which is not made payable to the Escrow Agent to the Sponsor. Each escrow deposit will be accompanied by a list provided by the Sponsor which specifies the name and address of the investor and the date and amount of each subscription in the Offering, and shall include a copy of the investor's completed subscription agreement which shall include investor's completed Certification of Taxpayer Identification Number as a substitute for IRS Form W-9 relating to U.S. residents and for IRS Form W-8Ben relating to non-U.S. residents . Funds received from persons purchasing subscriptions in the Offering shall be recorded on the books and records of Sterling Trust Company Escrow Account FBO (name of investor).
Deposit with Escrow Agent. (a) The Escrow Agent agrees that during the Escrow Period (as defined below) it will accept, in its capacity as escrow agent, subscription funds for the Shares (the “Escrowed Funds“) in the form of checks received by the Company from Subscribers or wire transfers to the Escrow Agent. All checks shall be made payable in the name of the Escrow Agent, as follows: “Bankers’ Bank Northeast as Escrow Agent for First Colebrook Bancorp, Inc. Offering”. If any check does not clear normal banking channels in due course, the Escrow Agent will promptly notify the Company and FIG. Any check which does not clear normal banking channels and is returned by the drawer's bank to the Escrow Agent will be promptly turned over to the Company, along with all other subscription documents relating to such check. Any check received that is made payable to a party other than the Escrow Agent shall be returned to the Company for return to the Subscriber. All Escrowed Funds shall be free and clear of any and all claims of the Company or any of its creditors.
Deposit with Escrow Agent. The Escrow Agent agrees that it will from time to time accept, in its capacity as Escrow Agent, Payments in the form of checks or wire transfers received by the Company or the Placement Agent from subscribers. All checks shall be made payable to the order of “NorthStar Bank, as Escrow Agent for FPB Bancorp, Inc.”, and the Company and the Placement Agent each herein covenants that it shall use commercially reasonable efforts to cause the same to be physically delivered to the Escrow Agent by noon of the first business day following the date of receipt. If any check does not clear normal banking channels in due course, the Escrow Agent will promptly notify the Company and the Placement Agent. Any check which does not clear normal banking channels and is returned by the drawer’s bank to the Escrow Agent will be promptly returned to the delivering party (the Company or the Placement Agent) along with the drawer’s Subscription Agreement. Any check received by the Escrow Agent that is made payable to a party other than “NorthStar Bank, as Escrow Agent for FPB Bancorp, Inc.” shall be returned to the delivering party (the Company or the Placement Agent) for return to the subscriber. The Company may reject any Subscription Agreement for any reason. If such rejection by the Company occurs after any check representing a Payment has been cashed by the Escrow Agent, the Escrow Agent shall be instructed in writing by the Company to return the applicable Payment by check made payable to the subscriber. If the Company rejects or cancels any Subscription Agreement, no interest shall be paid to the subscriber. Each Subscription Agreement received by the Company shall be reviewed for accuracy and, if found to be in acceptable form, shall promptly thereafter be delivered to the Escrow Agent, either in its original or a photocopy form, together with the applicable Payment.
Deposit with Escrow Agent. As security for Purchaser's faithful performance of its obligations hereunder, Purchaser shall deposit, in cash, with the Seller , simultaneously with Purchaser's execution and delivery of this Agreement to Seller for Seller's acceptance, the Exxxxxx Money.
Deposit with Escrow Agent. The Escrow Agent agrees that it will, from time to time, accept subscription payments for Shares (the "Escrow and Deposit") received by it from subscribers or broker-dealers authorized to sell Shares (the "Selling Dealers"). Until such time at least 1,200 Shares have been sold and the related Escrow Deposits in an aggregate amount not less than $1,200,000 have been duly distributed in accordance with Section 3.1 hereof, all subscription checks shall be made payable to the Escrow Agent. Subscription Agreements for the Shares received by the Company shall be reviewed for accuracy by the Company and, immediately thereafter, the Company shall deliver to Escrow Agent information describing (1) the name, address and Federal Tax Identification Number of the subscriber, (2) that number of Shares subscribed for by subscriber, and (3) the subscription price.
Deposit with Escrow Agent. Upon the Escrow Date, each Investor severally will deliver or cause to be delivered to the Escrow Agent payment to the escrow account identified on the cover page hereof (the "ESCROW ACCOUNT"), in the amount set forth next to such Investor's name in column 1 on Exhibit C hereto (together with any income and interest that accrues thereon, the "ESCROWED PROPERTY"). Such monies will be wire transferred directly from the Investors to the Escrow Account.
