Common use of Delivery of Escrow Account Proceeds Clause in Contracts

Delivery of Escrow Account Proceeds. At the Closing Time as defined in ----------------------------------- the Underwriting Agreement, the Underwriter and Offerors shall provide the Escrow Agent with written directions for the distribution of the Escrow Account, and the Escrow Agent agrees to distribute the Escrow Account pursuant to such written directions. If no direction is received on or before 5:00 p.m., _______ ______________, 2001 (unless such time shall be extended by written agreement of the Underwriter, Offerors and the Escrow Agent), the Escrow Agent shall return the Escrow Amount to the parties that made payments to the Escrow Account and this Agreement shall be of no further force or effect.

Appears in 1 contract

Samples: Escrow Agreement (Commonwealth Bankshares Inc)

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Delivery of Escrow Account Proceeds. At the Closing Time as defined in ----------------------------------- the Underwriting Agreement, the Underwriter and Offerors shall provide the Escrow Agent with written directions for the distribution of the Escrow Account, and the Escrow Agent agrees to distribute the Escrow Account pursuant to such written directions. If no direction is received on or before 5:00 p.m., _______ ______________, 2001 1998 (unless such time shall be extended by written agreement of the Underwriter, Offerors and the Escrow Agent), the Escrow Agent shall return the Escrow Amount to the parties that made payments to the Escrow Account and this Agreement shall be of no further force or effect.

Appears in 1 contract

Samples: Escrow Agreement (Guaranty Capital Trust I)

Delivery of Escrow Account Proceeds. At the Closing Time as defined ----------------------------------- in ----------------------------------- the Underwriting Agreement, the Underwriter and Offerors shall provide the Escrow Agent with written directions for the distribution of the Escrow Account, and the Escrow Agent agrees to distribute the Escrow Account pursuant to such written directions. If no direction is received on or before 5:00 p.m., _______ ______________, 2001 2000 (unless such time shall be extended by written agreement of the Underwriter, Offerors and the Escrow Agent), the Escrow Agent shall return the Escrow Amount to the parties that made payments to the Escrow Account and this Agreement shall be of no further force or effect.

Appears in 1 contract

Samples: Escrow Agreement (Commonwealth Bankshares Inc)

Delivery of Escrow Account Proceeds. At the Closing Time as ----------------------------------- defined in ----------------------------------- the Underwriting Agreement, the Underwriter and Offerors shall provide the Escrow Agent with written directions for the distribution of the Escrow Account, and the Escrow Agent agrees to distribute the Escrow Account pursuant to such written directions. If no direction is received on or before 5:00 p.m., _______ ______________, 2001 (unless such time shall be extended by written agreement of the Underwriter, Offerors and the Escrow Agent), the Escrow Agent shall return the Escrow Amount to the parties that made payments to the Escrow Account and this Agreement shall be of no further force or effect.

Appears in 1 contract

Samples: Escrow Agreement (Commonwealth Bankshares Inc)

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Delivery of Escrow Account Proceeds. At the Closing Time as defined in ----------------------------------- the Underwriting Agreement, the Underwriter and Offerors shall provide the Escrow Agent with written directions for the distribution of the Escrow Account, and the Escrow Agent agrees to distribute the Escrow Account pursuant to such written directions. If no direction is received on or before 5:00 p.m., ________ ______________, 2001 2000 (unless such time shall be extended by written agreement of the Underwriter, Offerors and the Escrow Agent), the Escrow Agent shall return the Escrow Amount to the parties that made payments to the Escrow Account and this Agreement shall be of no further force or effect.

Appears in 1 contract

Samples: Escrow Agreement (Southern Financial Capital Trust I)

Delivery of Escrow Account Proceeds. At the Closing Time as defined in ----------------------------------- the Underwriting Agreement, the Underwriter and Offerors shall provide the Escrow Agent with written directions for the distribution of the Escrow Account, and the Escrow Agent agrees to distribute the Escrow Account pursuant to such written directions. If no direction is received on or before 5:00 p.m., _______ ____________January __, 2001 1999 (unless such time shall be extended by written agreement of the Underwriter, Offerors and the Escrow Agent), the Escrow Agent shall return the Escrow Amount to the parties that made payments to the Escrow Account and this Agreement shall be of no further force or effect.

Appears in 1 contract

Samples: Escrow Agreement (Resource Capital Trust I)

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