Deposit Account. Once subscription funds, including from Persons affiliated with the Company or the Advisor in the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and UMB Bank, N.A. that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and UMB Bank, N.A. that funds in the Deposit Account can be released upon order of the Company.
Appears in 4 contracts
Samples: Exclusive Dealer Manager Agreement (RCS Capital Corp), Exclusive Dealer Manager Agreement (American Realty Capital Trust IV, Inc.), Escrow Agreement (American Realty Capital Healthcare Trust II, Inc.)
Deposit Account. Once subscription funds, including funds from Persons affiliated unaffiliated with the Company or Company, the Advisor or any Service Provider in the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and UMB Bank, N.A. that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and UMB Bank, N.A. that funds in the Deposit Account can be released upon order of the Company.
Appears in 4 contracts
Samples: Exclusive Dealer Manager Agreement (RCS Capital Corp), Exclusive Dealer Manager Agreement (American Realty Capital Global Trust, Inc.), Exclusive Dealer Manager Agreement (American Realty Capital Global Trust, Inc.)
Deposit Account. Once subscription funds, including funds from Persons affiliated unaffiliated with the Company or the Advisor in the Escrow Account aggregate a minimum of $2,000,000 in respect of Primary Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and UMB Bank, N.A. that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and UMB Bank, N.A. that funds in the Deposit Account can be released upon order of the Company.
Appears in 3 contracts
Samples: Exclusive Dealer Manager Agreement (RCS Capital Corp), Exclusive Dealer Manager Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.), Escrow Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.)
Deposit Account. Once subscription funds, including funds from Persons affiliated unaffiliated with the Company or the Advisor in the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and UMB Bank, N.A. that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and UMB Bank, N.A. that funds in the Deposit Account can be released upon order of the Company.
Appears in 3 contracts
Samples: Exclusive Dealer Manager Agreement (RCS Capital Corp), Exclusive Dealer Manager Agreement (American Realty Capital - Retail Centers of America, Inc.), Dealer Manager Agreement (American Realty Capital Trust III, Inc.)
Deposit Account. Once subscription funds, including funds from Persons affiliated unaffiliated with the Company or the Advisor in the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and UMB Bank, N.A. that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and UMB Bank, N.A. that funds in the Deposit Account can be released upon order of the Company.
Appears in 2 contracts
Samples: Escrow Agreement (ARC Realty Finance Trust, Inc.), Escrow Agreement (ARC Realty Finance Trust, Inc.)
Deposit Account. Once subscription funds, including funds from Persons affiliated unaffiliated with the Company or the Advisor in the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the CompanyShares, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and UMB Bank, N.A. the Depository Bank that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and UMB Bank, N.A. the Depository Bank that funds in the Deposit Account can be released upon order of the Company.
Appears in 1 contract
Samples: Exclusive Dealer Manager Agreement (RCS Capital Corp)