Common use of Creation of Escrow Clause in Contracts

Creation of Escrow. At any time and from time to time after the date hereof until completion of the Offering and Closing thereunder, the Underwriter shall cause to be delivered to the Escrow Agent, from the Subscribers, funds or instruments payable to the Escrow Agent as escrow agent representing the purchase price of shares subscribed for by Subscribers. The Escrow Agent shall accept and hold in escrow all such funds so received by it for deposit in escrow hereunder (the "Escrowed Funds") until released as set forth herein. The Escrow Agent shall maintain books and records of account detailing the source of all funds received by the Escrow Agent.

Creation of Escrow. At any time and from time to time after the date hereof until completion of the Offering and Closing thereunder, the Underwriter shall cause to be delivered to the Escrow Agent, from the Subscribers, funds or instruments payable to the Escrow Agent as escrow agent representing the purchase price of shares subscribed for by Subscribers. The Escrow Agent shall accept and hold in escrow all such funds so received by it for deposit in escrow hereunder (the "Escrowed FundsESCROWED FUNDS") until released as set forth herein. The Escrow Agent shall maintain books and records of account detailing the source of all funds received by the Escrow Agent.