Common use of Collection Procedure Clause in Contracts

Collection Procedure. The Escrow Agent is hereby authorized to forward each check for collection and upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the check. In such cases, the Escrow Agent will promptly notify the company of such return. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. (a) The Escrow Agent is hereby authorized to forward deposit each check for collection and upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative. (b) In the event any check paid by a purchaser and deposited in the Escrow Account shall be returned, the Escrow Agent may shall notify the Underwriter by telephone of such occurrence and advise it of the bank on which name of the purchaser, the amount of the check is drawn to confirm that the check has been paidreturned, and any other pertinent information. Any check returned unpaid to the The Escrow Agent shall be then transmit the returned check directly to the investor that submitted purchaser and shall transmit the check. In statement previously delivered by the Underwriter relating to such cases, purchase to the Escrow Agent will promptly notify the company of such return. Underwriter. (c) If the Company rejects any subscription purchase of Shares for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriberpurchaser. If the Company Underwriter rejects any subscription purchase for which the Escrow Agent has not yet collected funds but has submitted the subscriber's purchaser’s check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's purchaser’s check to the rejected subscriber purchaser after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's purchaser’s check for collection, the Escrow Agent shall promptly remit the subscriber's purchaser’s check directly to the subscriberpurchaser.

Collection Procedure. 5.1 The Escrow Agent is hereby authorized to forward each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. . 5.2 Any check returned unpaid to the Escrow Agent shall be returned to the investor that subscriber who submitted the check. In such cases, the Escrow Agent will promptly notify the company Issuer of such return. . 5.3 If the Company Issuer rejects any subscription subscription, in whole or in part, for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company Issuer rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. A. The Escrow Agent is hereby authorized to forward each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. . B. Any check returned unpaid to the Escrow Agent shall be returned to the investor Selected Dealer that submitted the check. In such cases, the Escrow Agent will promptly notify the company Company of such return. . C. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent Agent, as instructed by the Company, shall promptly issue a refund check to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, as instructed by the Company the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, as instructed by the Company the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. (a) The Escrow Agent is hereby authorized to forward deposit each check for collection and upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative. (b) In the event any check paid by a purchaser and deposited in the Escrow Account shall be returned, the Escrow Agent may shall notify the Underwriter by telephone of such occurrence and advise it of the bank on which name of the purchaser, the amount of the check is drawn to confirm that the check has been paidreturned, and any other pertinent information. Any check returned unpaid to the The Escrow Agent shall be then transmit the returned check directly to the investor that submitted purchaser and shall transmit the check. In statement previously delivered by the Underwriter relating to such cases, purchase to the Escrow Agent will promptly notify the company of such return. Underwriter. (c) If the Company rejects any subscription purchase of Shares for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriberpurchaser. If the Company Underwriter rejects any subscription purchase for which the Escrow Agent has not yet collected funds but has submitted the subscriberpurchaser's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriberpurchaser's check to the rejected subscriber purchaser after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriberpurchaser's check for collection, the Escrow Agent shall promptly remit the subscriberpurchaser's check directly to the subscriberpurchaser.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check from each Subscriber for collection and and, upon collection of the proceeds of each such check, deposit the collected proceeds in into the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the a check from a Subscriber is drawn to confirm that the such check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the checkManaging Broker-Dealer. In such cases, the Escrow Agent will promptly notify the company Issuer of such returnreturned check. If the Company Issuer rejects any subscription for a purchase of the Units for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriberSubscriber. If the Company Issuer rejects any such subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's Subscriber’s check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's Subscriber’s check to the rejected subscriber Subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's Subscriber’s check for collection, the Escrow Agent shall promptly remit the subscriber's Subscriber’s check directly to the subscriberSubscriber.

Collection Procedure. (a) The Escrow Agent is hereby authorized to forward each check Payment for collection and and, upon collection of the proceeds of each checkPayment, to deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. . (b) Any check Payment returned unpaid to the Escrow Agent shall be returned to the investor Company or Soliciting Dealer that submitted the checkPayment. In such cases, cases the Escrow Agent will promptly notify the company Company of such return. If . (c) In the event that the Company rejects any subscription for which Shares and the Escrow Agent has already collected fundsfunds for such subscription, the Escrow Agent shall promptly issue a refund check Payment to the drawer of the Payment submitted by or on behalf of the rejected or withdrawing subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds for such subscription but has submitted the subscriber's check Payment relating to such subscription for collection, the Escrow Agent shall promptly issue a check Payment in the amount of the subscriber's check such Payment to the rejected or withdrawing subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a the Payment relating to the subscription of the rejected or withdrawing subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check such Payment directly to the drawer of the Payment submitted by or on behalf of the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor Selected dealer that submitted the check. In such cases, the Escrow Agent will promptly notify the company Company of such return. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber. Should any released Escrow funds be found to be uncollectable by Escrow Agent after funds have been released to the Company, the Company will immediately deposit such amount via federal fund with Escrow Agent upon demand. Company shall be responsible in pursuing subscriber regarding the status of their deposit.

Collection Procedure. (a) The Escrow Agent is hereby authorized to forward deposit each check for collection and upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative. (b) In the event that any check paid by a purchaser and deposited in the Escrow Account shall be returned, the Escrow Agent may shall notify the Sales Agent by telephone of such occurrence and advise it of the bank on which name of the purchaser, the amount of the check is drawn to confirm that the check has been paidreturned, and any other pertinent information. Any check returned unpaid to the The Escrow Agent shall be then transmit the returned check directly to the investor that submitted purchaser and shall transmit the check. In statement previously delivered by the Sales Agent relating to such cases, purchase to the Escrow Agent will promptly notify the company of such return. Sales Agent. (c) If the Company rejects any subscription purchase of Units for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriberpurchaser. If the Company Sales Agent rejects any subscription purchase for which the Escrow Agent has not yet collected funds but has submitted the subscriber's purchaser’s check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's purchaser’s check to the rejected subscriber purchaser after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's purchaser’s check for collection, the Escrow Agent shall promptly remit the subscriber's purchaser’s check directly to the subscriberpurchaser.

Collection Procedure. (a) The Escrow Agent is hereby authorized to forward process each check Payment for collection and and, upon collection of the proceeds of each checkPayment, to deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. . (b) Any check Payment returned unpaid to the Escrow Agent shall be returned to the investor that submitted the checkPlacement Agent. In such cases, the Escrow Agent will promptly notify the company Company of such return. If . (c) In the event that the Company rejects any subscription for which Units and the Escrow Agent has already collected fundsfunds for such subscription, the Escrow Agent shall promptly issue a refund check Payment to the drawer of the Payment submitted by or on behalf of the rejected or withdrawing subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds for such subscription but has submitted the subscriber's check Payment relating to such subscription for collection, the Escrow Agent shall promptly issue a check Payment in the amount of the subscriber's check such Payment to the rejected or withdrawing subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a the Payment relating to the subscription of the rejected or withdrawing subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check such Payment directly to the drawer of the Payment submitted by or on behalf of the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check for collection and upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on in which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the check. In such cases, the Escrow Agent will promptly notify the company Company of such return. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. (a) The Escrow Agent is hereby authorized to forward each check Payment for collection and and, upon collection of the proceeds of each checkPayment, to deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. . (b) Any check Payment returned unpaid to the Escrow Agent shall be returned to the investor party that submitted the checkPayment. In such cases, the Escrow Agent will promptly notify the company Company of such return. If . (c) In the event that the Company or any agent acting on behalf of the Company rejects any subscription for which Shares and the Escrow Agent has already collected fundsfunds for such subscription, the Escrow Agent shall promptly issue a refund check Payment to the drawer of the Payment submitted by or on behalf of the rejected or withdrawing subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds for such subscription but has submitted the subscriber's check Payment relating to such subscription for collection, the Escrow Agent shall promptly issue a check Payment in the amount of the subscriber's check such Payment to the rejected or withdrawing subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a the Payment relating to the subscription of the rejected or withdrawing subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check such Payment directly to the drawer of the Payment submitted by or on behalf of the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward deposit each check received for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in into the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the check. In such cases, Stock Information Center by the Escrow Agent will promptly notify Agent, and any fees, charges or expenses relating to such returned check shall be paid by the company of such returnCompany. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall shall, upon receipt of written notice from the Company, promptly issue a refund check to the rejected subscribersubscriber in the amount of the collected funds. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's ’s check for collection, the Escrow Agent Agent, upon receipt of written notice from the Company, shall promptly issue a check in the amount of the subscriber's ’s check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's ’s check for collection, the Escrow Agent shall promptly remit the subscriber's ’s check directly to the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check instrument or wire for collection and and, upon collection of the proceeds of each check, instrument or wire deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check checks or wires returned unpaid to the Escrow Agent shall be returned to the investor that submitted the checkPlacement Agent. In such cases, the Escrow Agent will promptly notify the company of Company for such return. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check or wire to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check wire for collection, the Escrow Agent shall promptly issue a check in or wire the amount of the subscriber's check wire to the rejected subscriber after the Escrow Agent has cleared such funds. The purchase money returned to each subscriber shall be free and clear of any and all claims of the Company, the Placement Agent or any of their creditors. If the Escrow Agent has not yet submitted a rejected subscriber's check wire for collection, the Escrow Agent shall promptly remit the subscriber's check wire directly to the subscriber. The Company shall provide payment instructions to the Escrow Agent.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the checkUnderwriter. In such cases, the Escrow Agent will promptly notify the company Partnership of such return. If the Company Partnership rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company Partnership rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor subscriber that submitted the check. In such cases, the Escrow Agent will promptly notify the company Company of such return. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to -------------------- forward each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the checkUnderwriter. In such cases, the Escrow Agent will promptly notify the company Partnership of such return. If the Company Partnership rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company Partnership rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward each check for collection and and, upon collection of the proceeds Proceeds of each check, deposit the collected proceeds Proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor Participating Broker that submitted the check. In such cases, the Escrow Agent will shall promptly notify the company Company of such return. From time to time, upon instructions from the Company identifying those subscribers whose subscriptions have been rejected, the Escrow Agent shall return such funds to the subscribers so identified with such interest as has been credited to them pursuant to Section 5 hereof. If the Company rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.

Collection Procedure. The Escrow Agent is hereby authorized to forward -------------------- each check for collection and and, upon collection of the proceeds of each check, deposit the collected proceeds in the Escrow Account. As an alternative, the Escrow Agent may telephone the bank on which the check is drawn to confirm that the check has been paid. Any check returned unpaid to the Escrow Agent shall be returned to the investor that submitted the checkUnderwriter. In such cases, the Escrow Agent will promptly notify the company Partnership of such return. If the Company Partnership rejects any subscription for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected subscriber. If the Company Partnership rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the subscriber's check for collection, the Escrow Agent shall promptly issue a check in the amount of the subscriber's check to the rejected subscriber after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected subscriber's check for collection, the Escrow Agent shall promptly remit the subscriber's check directly to the subscriber.