Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Bank, SimplaGene USA Escrow Account" together with a subscription agreement containing the Subscriber's name, mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Bank, SimplaGene USA Escrow Account" (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account. (b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 2 contracts
Samples: Proceeds Escrow Agreement (Simplagene Usa Inc), Proceeds Escrow Agreement (Simplagene Usa Inc)
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Bank“Escrow Specialists, SimplaGene USA Xxxx Escrow Account" ” together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Bank“Escrow Specialists, SimplaGene USA Xxxx Escrow Account" ” (the "“Escrow Account"”) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." ” The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's ’s customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 2 contracts
Samples: Proceeds Escrow Agreement (Wren, Inc.), Proceeds Escrow Agreement (Wren, Inc.)
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated BankEscrow Specialists, SimplaGene USA Online Holdings, Inc., Escrow Account" together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated BankEscrow Specialists, SimplaGene USA Online Holdings, Inc., Escrow Account" (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 2 contracts
Samples: Proceeds Escrow Agreement (Online Holdings Inc), Proceeds Escrow Agreement (Fp Holdings Inc)
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated BankEscrow Specialists, SimplaGene USA Online Holdings, Inc., Escrow Account" together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Brighton_ Bank, SimplaGene USA Online Holdings, Inc., Escrow Account" (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 2 contracts
Samples: Proceeds Escrow Agreement (Online Holdings Inc), Proceeds Escrow Agreement (Online Holdings Inc)
Delivery of Escrow Funds. (a) The Company Dealer-Manager and all selected dealers participating in the Offering shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Bank_______________________" representing subscriptions for the securities of the Company, SimplaGene USA Escrow Account" together with a subscription agreement containing the Subscriber's name, mailing address, address and social security numbernumber or tax identification number (if the aforesaid information is not provided, and the check will be returned or the amount of investmentthe wire transfer refunded). The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-interest bearing account designated "Associated Bank, SimplaGene USA Escrow Account" at __________________________ entitled _______________________________ (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account Account. The Escrow Agent shall give such notice, in substantially the Escrow Agent's customary manner no later than form attached hereto as Exhibit A, via facsimile on the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Samples: Proceeds Escrow Agreement (Ibf Vi Guaranteed Income Fund)
Delivery of Escrow Funds. (a) The Company Underwriter and all selected dealers participating in the Offering shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated BankCSTTC, SimplaGene USA Escrow Account" representing subscriptions for the securities of the Company, together with a subscription agreement containing the Subscriber's name, mailing address, address and social security numbernumber or tax identification number (if the aforesaid information is not provided, and the check will be returned or the amount of investmentthe wire transfer refunded), no later than noon of the next business day following receipt. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-an interest bearing account designated "Associated Bankat Continental Stock Transfer & Trust Company, SimplaGene USA Escrow Account" 2 Broadway, New York, NY 10004, xxxxxxxx XXXXX, Xxxxxx Xxxxxnt for IBF VI - Participating Income Fund (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account Account. The Escrow Agent shall give such notice, in substantially the Escrow Agent's customary manner no later than form attached hereto as Exhibit A, via facsimile on the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Samples: Proceeds Escrow Agreement (Ibf Vi Guaranteed Income Fund)
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Bank“Escrow Specialists, SimplaGene USA Cinjet, Inc. Escrow Account" ” together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Bank“Escrow Specialists, SimplaGene USA Cinjet, Inc. Escrow Account" ” (the "“Escrow Account"”) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." ” The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's ’s customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Bank“Escrow Specialists, SimplaGene USA JJ&R Ventures, Inc. Escrow Account" ” together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Bank“Escrow Specialists, SimplaGene USA JJ&R Ventures, Inc. Escrow Account" ” (the "“Escrow Account"”) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." ” The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's ’s customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Delivery of Escrow Funds. (a) The Placement Agent and the Company shall instruct Subscribers to deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated “M&T Bank, SimplaGene USA as Escrow Account" together Agent for GigOptix, Inc.” or wire transfer to: in each case, with a subscription agreement containing the name, address and social security number or taxpayer identification number of the individual or entity making payment. In the event any Subscriber’s address and/or social security number or taxpayer identification number are not provided to Escrow Agent by the Subscriber's name, mailing address, social security number, and amount of investmentthen Placement Agent and/or the Company agree to promptly provide Escrow Agent with such information in writing. The funds delivered to the Escrow Agent checks or wire transfers shall be deposited by the Escrow Agent into a non-non interest-bearing account designated "Associated at M&T Bank entitled “M&T Bank, SimplaGene USA as Escrow Agent for GigOptix, Inc.” (the “Escrow Account" ”).
(the "Escrow Account"b) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.”
(bc) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the CompanySubscriber and advise the Company and Placement Agent promptly thereof.
Appears in 1 contract
Delivery of Escrow Funds. (a) The Company (i) Subscribers for the purchase of Shares (“Subscribers”) shall be directed pursuant to the Registration Statement to deliver to the Escrow Agent checks or wire transfers received from Subscribers made payable to the order of "Associated Bank“American Stock Transfer, SimplaGene USA as Escrow Account" together Agent for Pinpoint Recovery Solutions Corp.” The Escrow Agent may also receive money from Subscribers by means of wire transfer, whereby money shall be wired to “American Stock Transfer, as Escrow Agent for Pinpoint Recovery Solutions Corp.,” in accordance with a subscription agreement containing wire transfer instructions provided by the Escrow Agent to the Subscriber upon request by the Subscriber's name, mailing address, social security number, and amount of investment. .
(ii) The funds delivered Company shall provide to the Escrow Agent the name, address and social security number or taxpayer identification number corresponding to each individual or entity making payment.
(iii) All such funds, whether received by check, wire or otherwise, shall be deposited into a non interest-bearing account at American Stock Transfer entitled “American Stock Transfer, as Escrow Agent for Pinpoint Recovery Solutions Corp.” (the “Escrow Account”). Subscriptions shall be accepted by the Escrow Agent into a non-interest-bearing account designated "Associated Bank, SimplaGene USA Escrow Account" until 5:00 p.m. (Eastern time) on the "Escrow Account"Termination Date (if not extended) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. or Final Termination Date (if extended).
(b) The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.”
(bc) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to Subscriber and advise the CompanyCompany promptly thereof.
Appears in 1 contract
Samples: Escrow Agreement (Pinpoint Recovery Solutions Corp)
Delivery of Escrow Funds. (a) The Company Placement Agent and the Trust shall instruct Subscribers to deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated “Signature Bank, SimplaGene USA as Escrow Account" together Agent for wShares Bitcoin Fund,” or wire transfer to Signature Bank, 0000 Xxxxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, ABA No. 000000000 for credit to Signature Bank, as Escrow Agent for wShares Bitcoin Fund, Account No. _____________, in each case, with a subscription agreement containing the name and address of the individual or entity making payment. In the event any Subscriber’s address is not provided to Escrow Agent by the Subscriber's name, mailing address, social security number, and amount of investmentthen the Trust agrees to promptly provide Escrow Agent with such information in writing. The funds delivered to the Escrow Agent checks or wire transfers shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated at Signature Bank entitled “wShares Bitcoin Fund, Signature Bank, SimplaGene USA as Escrow Agent” (the “Escrow Account" ”).
(the "Escrow Account"b) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.”
(bc) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the CompanySubscriber and advise the Trust and the Placement Agent promptly thereof.
Appears in 1 contract
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Brighton Bank, SimplaGene USA Online Holdings, Inc., Escrow Account" together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Brighton_ Bank, SimplaGene USA Online Holdings, Inc., Escrow Account" (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Brighton Bank, SimplaGene USA Paradise Resorts and Rentals, Inc., Inc., Escrow Account" together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Brighton Bank, SimplaGene USA Paradise Resorts and Rentals, Inc., Escrow Account" (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Samples: Proceeds Escrow Agreement (Paradise Resorts & Rentals Inc)
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Far West Bank, SimplaGene USA Woodland Hatchery, Inc., Escrow Account" together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Far West Bank, SimplaGene USA Woodland Hatchery, Inc., Escrow Account" (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Delivery of Escrow Funds. (a) The Company Underwriter and all selected dealers participating in the Offering shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated BankCSTTC Escrow Agent for IBF VI - Secured Lending Corporation" representing subscriptions for the securities of the Company, SimplaGene USA Escrow Account" together with a subscription agreement containing the Subscriber's name, mailing address, address and social security numbernumber or tax identification number (if the aforesaid information is not provided, and the check will be returned or the amount of investmentthe wire transfer refunded), no later than noon of the next business day following receipt. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-an interest bearing account designated "Associated Bankat Continental Stock Transfer & Trust Company, SimplaGene USA 0 Xxxxxxxx, Xxx Xxxx, XX 00000, entitled CSTTC, Escrow Account" Account for IBF VI - Secured Lending Corporation (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account Account. The Escrow Agent shall give such notice, in substantially the Escrow Agent's customary manner no later than form attached hereto as Exhibit A, via facsimile on the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Samples: Proceeds Escrow Agreement (Ibf Vi Guaranteed Income Fund)
Delivery of Escrow Funds. (a) The Company Dealer-Manager and all selected dealers participating in the Offering shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated BankCSTTC, SimplaGene USA Escrow Account" representing subscriptions for the securities of the Company, together with a subscription agreement containing the Subscriber's name, mailing address, address and social security numbernumber or tax identification number (if the aforesaid information is not provided, and the check will be returned or the amount of investmentthe wire transfer refunded), no later than noon of the next business day following receipt. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-an interest bearing account designated "Associated Bankat Continental Stock Transfer & Trust Company, SimplaGene USA Escrow Account" 2 Broadway, New York, NY 10004, xxxxxxxx XXXXX, Xxxxxx Xxxxxnt for IBF VI - Participating Income Fund (the "Escrow Account") and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "Escrow Funds." The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account Account. The Escrow Agent shall give such notice, in substantially the Escrow Agent's customary manner no later than form attached hereto as Exhibit A, via facsimile on the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract
Samples: Proceeds Escrow Agreement (Ibf Vi Guaranteed Income Fund)
Delivery of Escrow Funds. (a) The Company shall deliver to the Escrow Agent checks or wire transfers made payable to the order of "Associated Bank“Escrow Specialists, SimplaGene USA RNS Software, Inc. Escrow Account" ” together with a subscription agreement containing the Subscriber's name, Subscribers mailing address, social security number, and amount of investment. The funds delivered to the Escrow Agent shall be deposited by the Escrow Agent into a non-interest-bearing account designated "Associated Bank“Escrow Specialists, SimplaGene USA RNS Software, Inc. Escrow Account" ” (the "“Escrow Account"”) and shall be held and distributed by the Escrow Agent in accordance with the terms hereof. The collected funds deposited into the Escrow Account that are collected are referred to herein as the "“Escrow Funds." ” The Escrow Agent shall acknowledge receipt of all Escrow Funds by notifying the Company of deposits into the Escrow Account in the Escrow Agent's ’s customary manner no later than the next business day following the business day on which the Escrow Funds are deposited into the Escrow Account.
(b) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Company.
Appears in 1 contract