DEPOSIT INTO ESCROW. Until such time as prospective investors have subscribed for the Minimum Subscription, and, thereafter, whenever the Dealer Manager receives an instrument of payment made payable to the Escrow Agent, the Dealer Manager will (i) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's receipt of the same, deposit with Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by it, accompanied by a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "Escrow Account for the Benefit of Subscribers for Common Stock of Wells Timber Real Estate Investment Trust, Inc." (the "ESCROW ACCOUNT"). Xxe Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investors. In any such instance, Escrow Agent is authorized to debit the Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.
DEPOSIT INTO ESCROW. At Closing, the parties shall deposit into escrow (i) the Seaside Consideration Shares, (ii) the Consideration Stock and (iii) the stock power executed by Seaside. The deposit of the Seaside Consideration Shares, at the election of Seaside, may be made as (i) a certificate in the name of the Target Company or a provisional letter of allotment for a trading account in the name of the Escrow Agent representing the Seaside Escrow Shares and (ii) a certificate in the name of the Target Company or a provisional letter of allotment for a trading account in the name of the Escrow Agent (to be held for the benefit of the Target Company) representing the balance of the Seaside Consideration Shares. The Escrow Agent shall hold the Seaside Consideration Shares and the Consideration Stock in escrow when delivered.
DEPOSIT INTO ESCROW. 2.1 At the Offering Closing, the Company shall deliver the Warrant Certificate and the Share Certificate to the Escrow Agent to be held in escrow by the Escrow Agent in accordance with the terms and subject to the conditions set forth herein.
2.2 At the Offering Closing, the Subscriber shall deliver to the Escrow Agent a duly executed power of attorney to transfer the Shares (and the Dividend Securities) in the form attached hereto as Schedule "A", in respect of the Shares represented by the Share Certificate. Without limiting the generality of the foregoing, the Subscriber hereby appoints the Escrow Agent, without any further act of the Subscriber, as the agent and attorney-in-fact for and on behalf of the Subscriber in respect of the Shares represented by the Share Certificate.
DEPOSIT INTO ESCROW. At Closing, the Target Company shall (i) deposit the Xxxxxxx Consideration Shares with the Escrow Agent, (ii) deliver blank stock powers (the "Stock Powers") for the Xxxxxxx Escrow Shares to the Escrow Agent and (iii) deposit the Consideration Stock with the Escrow Agent. The Escrow Agent shall hold the Xxxxxxx Consideration Shares, the Consideration Stock and the Stock Powers in escrow when delivered.
DEPOSIT INTO ESCROW. (a) As soon as practicable following the Closing, the Stockholders (or OPI on behalf of the Stockholders) shall deposit (i) into the Escrow Account (as defined in the Escrow Agreement) an aggregate of $100,000, to be held and distributed in accordance with the terms of the Escrow Agreement, and (ii) into the Escrow Deposit Box (as defined in the Escrow Agreement) certificates representing in the aggregate 20,000 shares of the Buyer's Preferred Stock (issued to the Stockholders in the Merger and, with respect to certain Stockholders, pursuant to the Exchange Agreements or otherwise), to be held and distributed in accordance with the terms of Section 8.2 of the Reorganization Agreement and the terms of the Escrow Agreement.
(b) As soon as practicable following the Closing, the Buyer shall deposit $100,000 into the Escrow Account, to be held and disbursed in accordance with the terms of the Escrow Agreement.
DEPOSIT INTO ESCROW. Pursuant to Section 10.01 of this Agreement, Contractor and Carrier agree that Contractor will deposit and maintain with Carrier an Escrow Account in the amount of One Thousand Five Dollars ($1,500) per each tractor identified on the Schedule of Equipment and Receipt in the Agreement. The Escrow amount will be secured by an initial deposit of Five Hundred Dollars ($500.00) per tractor, and Carrier will deduct Fifty Dollars ($50.00) per week from amounts due Contract on Contractor’s weekly Settlement Statements until such time as the initial deposit reaches One Thousand Five Dollars ($1,500) per tractor.
DEPOSIT INTO ESCROW. At Closing, the parties shall deposit into escrow (i) the Xxxxxxx Consideration Shares and (ii) the Consideration Stock. The Escrow Agent shall hold the Xxxxxxx Consideration Shares and the Consideration Stock in escrow when delivered.
DEPOSIT INTO ESCROW. At the Closing, ten percent (10%) of the total number of Merger Shares issued by Buyer at Closing (the "Escrow Shares") shall be registered in the name of, and be deposited with Durham, Evans, Jones & Pinegar, P.C. (xx xthex xxxxxtution selected by Buyer with the reasonable consent of Papyrus) as escrow agent (the "Escrow Agent"), such deposit to constitute the Escrow Fund and to be governed by the terms set forth herein and in the Escrow Agreement attached hereto as Exhibit D. The Escrow Fund shall be available to compensate Buyer pursuant to the indemnification obligations of the Papyrus Stockholders as set forth in Section 7.2. If Buyer issues any Additional Escrow Shares (as defined below), such shares will be issued in the name of the Escrow Agent and delivered to the Escrow Agent in the same manner as the Escrow Shares delivered at the Closing.
DEPOSIT INTO ESCROW. The Pledgor hereby instructs the Pledgee to deposit the Escrowed Items with the Escrow Agent on the date hereof.
DEPOSIT INTO ESCROW. 1.1 The Company will, upon the closing of the Loan Agreement, deliver one (1) share certificate representing the Shares (the “Certificate”) and a cancellation resolution (the “Cancellation Resolution”) to effect the cancellation of the Shares, substantially in the form set out in Schedule A, to the Escrow Agent.
1.2 The Lender will, upon the closing of the Loan Agreement, deliver a duly executed and medallion guaranteed stock power of attorney (the “Stock Power”) to effect the cancellation of the Shares, substantially in the form set out in Schedule B, to the Escrow Agent.
1.3 The Escrow Agent will hold the Certificate, the Cancellation Resolution, and the Stock Power (collectively, the “Stock Cancellation Documents”) in escrow subject to the terms and conditions of this Agreement.
1.4 The Company and the Lender hereby appoint the Escrow Agent as the agent for and on behalf of the Company and the Lender in respect of the Stock Cancellation Documents, on the terms and subject to the conditions set forth in this Agreement.
