Conditions on Disbursements. OTEC shall not withdrawal funds from the Escrow Account under Paragraph 4(a) or Paragraph 4(b) above for use by OTEC unless the following conditions are met (the "Release Conditions"): (a) there shall not be any legal orders prohibiting the offering or release of funds from escrow, or orders from the United States Securities and Exchange Commission revoking the effectiveness of the Registration Statement related to the offering, and (b) the Escrow Agent has contacted the Securities Bureau of the Nebraska Department of Banking and Finance (the "Bureau") and the Bureau has indicated that the funds may be released from the Escrow Account.
Appears in 4 contracts
Samples: Escrow Agreement (Oregon Trail Ethanol Coalition LLC), Escrow Agreement (Oregon Trail Ethanol Coalition LLC), Escrow Agreement (Oregon Trail Ethanol Coalition LLC)
