Common use of Deposit and Receipt of Funds Clause in Contracts

Deposit and Receipt of Funds. (a) The Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas, N.A., Escrow Agent for Reef 200 - Drilling Partnership, L.P.," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable.

Appears in 2 contracts

Samples: Escrow Agreement (Reef 2007-2009 Drilling Program), Escrow Agreement (Reef 2007-2009 Drilling Program)

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Deposit and Receipt of Funds. (a) The Dealer Manager shall deposit promptly promptly, and in any event by the end of the second business day following receipt by it, all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas“Wilmington Trust, N.A., Escrow Agent for Reef 200 - Oil & Gas Drilling Partnershipand Income Fund, L.P.," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. The Partnership understands that until disbursed pursuant to Paragraph 2.4, it is not entitled to any Escrow Funds and no funds deposited in the Escrow Account will become the property of the Partnership. (b) The Managing General Partner and Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable, and all other documentation as required by the Bank for opening an account, as set forth in the U.S.Patriot Act.

Appears in 1 contract

Samples: Escrow Agreement (Reef Oil & Gas Drilling & Income Fund, L.P.)

Deposit and Receipt of Funds. (a) The Broker Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas“First Security Bank, N.A., Escrow Agent for Reef 200 - Drilling PartnershipCrown Exploration Fund I, L.P.," established at the Bank, for the purpose of this Escrow Agreement. The Broker Dealer shall deposit each check received by it in payment of subscriptions in the escrow account no later than noon of the business day following the receipt of the check. Concurrently with the delivery of such deposits to the Bank, the Broker Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds"Funds ”) in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Broker Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Broker Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Broker Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable.

Appears in 1 contract

Samples: Escrow Agreement (Crown Exploration Fund I, L.P.)

Deposit and Receipt of Funds. (a) The Broker Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas“First Security Bank, N.A., Escrow Agent for Reef 200 - Drilling PartnershipCrown Exploration Fund I, L.P.," established at the Bank, for the purpose of this Escrow Agreement. The Broker Dealer shall deposit each check received by it in payment of subscriptions in the escrow account no later than noon of the business day following the receipt of the check. Concurrently with the delivery of such deposits to the Bank, the Broker Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Broker Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Broker Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Broker Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable.

Appears in 1 contract

Samples: Escrow Agreement (Crown Exploration Fund I, L.P.)

Deposit and Receipt of Funds. (a) The Broker Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of TexasCrown Energy Fund I, N.A.L.P., Escrow Agent for Reef 200 - Drilling Partnership, L.P.Account," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Broker Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Broker Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Broker Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Broker Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable.

Appears in 1 contract

Samples: Escrow Agreement (Crown Energy Fund I Lp)

Deposit and Receipt of Funds. (a) The Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas“Wilmington Trust, N.A., Escrow Agent for Reef 200 - 2012-2013 Drilling PartnershipFund, L.P.," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable, and all other documentation as required by the Bank for opening an account, as set forth in the U.S.Patriot Act.

Appears in 1 contract

Samples: Escrow Agreement (Reef 2012 - 2013 Drilling Fund, L.P.)

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Deposit and Receipt of Funds. (a) The Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas, N.A.One, Escrow Agent for Reef 200 - Drilling PartnershipGlobal Energy __, L.P.," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable.

Appears in 1 contract

Samples: Escrow Agreement (Reef Global Energy Ventures)

Deposit and Receipt of Funds. (a) The Dealer Manager shall deposit promptly promptly, and in any event by the end of the second business day following receipt by it, all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas“Wilmington Trust, N.A., Escrow Agent for Reef 200 - 2012-2013 Drilling PartnershipFund, L.P.," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. The Partnership understands that until disbursed pursuant to Paragraph 2.4, it is not entitled to any Escrow Funds and no funds deposited in the Escrow Account will become the property of the Partnership. (b) The Managing General Partner and Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable, and all other documentation as required by the Bank for opening an account, as set forth in the U.S.Patriot Act.

Appears in 1 contract

Samples: Escrow Agreement (Reef Oil & Gas Drilling & Income Fund, L.P.)

Deposit and Receipt of Funds. (a) The Dealer Manager shall deposit promptly all checks received by it in payment of subscriptions in an escrow account entitled "Bank of Texas, N.A., Escrow Agent for Reef 200 - Drilling PartnershipGlobal Energy , L.P.," established at the Bank, for the purpose of this Escrow Agreement. Concurrently with the delivery of such deposits to the Bank, the Dealer Manager shall supply the Bank and the Managing General Partner with the name, mailing address and a completed Form W9/W8 for each subscriber. The Bank shall hold the proceeds of said checks (the "Escrow Funds") in escrow until disbursements therefrom are directed as set forth in Paragraph 2.4. (b) The Managing General Partner and Dealer Manager shall each execute and deliver to the Escrow Agent a certificate of incumbency substantially in the form of Exhibit A hereto for the purpose of establishing the identity of the representatives of the Managing General Partner and Dealer Manager entitled to issue instructions or directions to the Escrow Agent on behalf of each such party. In the event of any change in the identity of such representatives, a new certificate of incumbency shall be executed and delivered to the Escrow Agent by the appropriate party. Until such time as the Escrow Agent shall receive a new incumbency certificate, the Escrow Agent shall be fully protected in relying without inquiry on any then current incumbency certificate on file with the Escrow Agent. (c) The Managing General Partner, Partnership and Dealer Manager shall each furnish the Escrow Agent with a completed Form W-8 or Form W-9, as applicable.

Appears in 1 contract

Samples: Escrow Agreement (Reef Global Energy Ventures II)

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