Common use of Delivery of Escrow Funds Clause in Contracts

Delivery of Escrow Funds. (i) The Underwriter shall deliver to the Escrow Agent checks received from each prospective Investor made payable to the order of " Cxxxxx Motorcycle Company, Ltd. Escrow Account." The checks shall be deposited into an account at HSBC Bank USA entitled "Cxxxxx Motorcycle Escrow Account"(the "Escrow Account"), or (ii) The Escrow Agent shall receive money directly from prospective Investors by means of check or wire transfer. If by wire transfer, money shall be wired to HSBC Bank USA, 400 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, ABA Number 000-000-000, HSBC Bank USA as the Escrow Agent for the Company, Account No.10-878618. All such money shall be deposited into the Escrow Account. (b) The collected funds deposited into the Escrow Account are hereinafter referred to as the "Escrow Funds". (c) 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. (d) Promptly after checks and wire transfers are delivered to the Escrow Agent from the Underwriter, the Underwriter shall provide the Escrow Agent with the Investor's original Subscription Agreement, which shall include the Investor's name, address and other applicable information (social security number or employer identification number, if appropriate). The Escrow Agent shall hold the Subscription Agreements pending release of the Escrow Funds as provided in Section 2 below.

Delivery of Escrow Funds. (a) (i) The Underwriter Company shall deliver to the Escrow Agent checks received from each prospective Investor made payable to the order of " Cxxxxx Motorcycle Companythe Xxxxxxx Xxxxxxxx & Xxxxx, Ltd. PLLC IOLTA Trust Account (the “Escrow Account." The checks shall be deposited into an account at HSBC Bank USA entitled "Cxxxxx Motorcycle Escrow Account"(the "Escrow Account"”), orand delivered to the attention of Xxxxxx Xxxxx at 000 Xxxxx Xxxx Xxxxxx, Xxxxxxxxx Floor, Salt Lake City, Utah 84111or (ii) The Escrow Agent shall receive money directly from prospective Investors by means of check or wire transfer. If by wire transfer, money shall be wired to HSBC Bank USAXxxxxxx Xxxxxxxx & Xxxxx, 400 PLLC, 000 Xxxxx Xxxx Xxxxxx, Xxx Xxxx Xxxx Xxxx, Xxx Xxxx Xxxx, 00000, ABA Number 000-000-000Routing: 000000000, HSBC Bank USA as the Escrow Agent for the CompanyAccount: 153152343783, Account No.10-878618Swift: XXXXXX00XXX. All such money shall be deposited into the Escrow AccountAccount (without the use of any subaccounts). (b) The collected funds deposited into the Escrow Account are hereinafter referred to as the "Escrow Funds". (c) 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. (dc) Promptly after checks and wire transfers are delivered to the Escrow Agent from the UnderwriterCompany or any Investor, the Underwriter Company or the Investor, as applicable, shall provide the Escrow Agent with the Investor's ’s original Subscription Agreementsubscription agreement, which shall include the Investor's ’s name, address and other applicable information (social security number or employer identification number, if appropriate). The Escrow Agent shall hold the Subscription Agreements subscription agreements pending release of the funds in the Escrow Funds Account (the “Escrow Funds”) as provided in Section 2 belowbelow at which time the subscription agreements shall be released to the Company or the Investor as applicable in accordance with written instructions from the Company (which shall be delivered to the Escrow Agent promptly following the earlier to occur of the distribution of the Escrow Funds or the written request of the Escrow Agent).

Delivery of Escrow Funds. (i) The Underwriter shall deliver to the Escrow Agent checks received from each prospective Investor made payable to the order of " Cxxxxx Motorcycle Company, Ltd. ____________ Escrow Account." The checks shall be deposited into an account at HSBC Bank USA entitled "Cxxxxx Motorcycle ___________________ Escrow Account"(the "Escrow Account"), or (ii) The Escrow Agent shall receive money directly from prospective Investors by means of check or wire transfer. If by wire transfer, money shall be wired to HSBC Bank USA, 400 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, ABA Number 000-000-000, HSBC Bank USA as the Escrow Agent for the Company., Account No.10-878618No. ___________. All such money shall be deposited into the Escrow Account. (b) The collected funds deposited into the Escrow Account are hereinafter referred to as the "Escrow Funds". (c) 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. (d) Promptly after checks and wire transfers are delivered to the Escrow Agent from the Underwriter, the Underwriter shall provide the Escrow Agent with the Investor's original Subscription Agreement, which shall include the Investor's name, address and other applicable information (social security number or employer identification number, if appropriate). The Escrow Agent shall hold the Subscription Agreements pending release of the Escrow Funds as provided in Section 2 below.