Common use of Abandonment of Offering Clause in Contracts

Abandonment of Offering. As soon as practicable but no later than thirty (30) days after receipt by the Escrow Agent of written notice from the Company that it is abandoning the Offering, the Escrow Agent shall return directly to the Subscribers by certified mail the Subscribers’ Subscriptions, including funds equal to the Payments made by or on behalf of each such Subscriber, together with interest earned on the amount of such Payments and without deduction except as stated in Sections 7 and 13 of and Exhibits B and C to this Agreement (interest earned will be calculated at the end of the month of account termination and may be disbursed through a separate payment following calculation).