Common use of Deposit Procedure Clause in Contracts

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac count. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent at 1800 Xxxxxx Xxxx Xxxxxxxxx, Xxxx Xxxx Xxxxx, Xxxxxxx 00000 xxgether with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant hereto. (c) If a subscription is not accepted by the Company, the Company shall, within five days following its receipt, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the Company. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without inter est thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. Mentor Capital Consultants, Inc. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Falls Road, Xxxx Xxxx XxxxxGrafton, Xxxxxxx 00000 xxgether Wisconsin 53024, together with a schedule of such payments and the subscriptions scxxxxxx xx xxxx xxxxxxxx xxx xxx xxxxxxxxxxxxx represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant hereto. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receipt, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the Company. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without inter est interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds received by a Selected Placement Agent and delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated has a US non-interest bearing trust account with the Canadian Imperial Bank of Commerce ("CIBC"), located in Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx (the "Escrow Account") designated as the "Ackeeox Corp. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company). The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent at 1800 Xxxxxx 1200 - 000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxx Xxxx XxxxxXxxxxxx Xxxxxxxx, Xxxxxxx 00000 xxgether Xxxxxx, X0X 0X0 together with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units Shares (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant hereto. (c) If a subscription is not accepted by the Company, the Company shall, within five days following its receipt, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the Company. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without inter est interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. Harp & Eagle, Ltd. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the CompanyCompany and the Managing Placement Agent. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company Selected Placement Agents to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company Selected Placement Agents shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Xxxxx Xxxx, Xxxx Xxxx XxxxxXxxxxxx, Xxxxxxx 00000 xxgether Xxxxxxxxx 00000, xx 12:00, noon, on the business day following receipt thereof by a Selected Placement Agent, together with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units Common Stock (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, delivered by a Selected Placement Agent as aforesaid, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant heretoto this Agreement. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receiptreceipt from a Selected Placement Agent of such subscription, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by a Selected Placement Agent, as reported to the CompanyCompany pursuant to the Managing Placement Agent Agreement. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company a Selected Placement Agent and delivered to the Escrow Agent, without inter est interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company a Selected Placement Agent and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds received by a Selected Placement Agent and delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. International Monetary Systems, Ltd. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the CompanyCompany and the Managing Placement Agent. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company Selected Placement Agents to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company Selected Placement Agents shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Xxxxx Xxxx, Xxxx Xxxx XxxxxXxxxxxx, Xxxxxxx 00000 xxgether Xxxxxxxxx 00000, xx 12:00, noon, on the business day following receipt thereof by a Selected Placement Agent, together with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units Common Stock (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, delivered by a Selected Placement Agent as aforesaid, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant heretoto this Agreement. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receiptreceipt from a Selected Placement Agent of such subscription, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by a Selected Placement Agent, as reported to the CompanyCompany pursuant to the Managing Placement Agent Agreement. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company a Selected Placement Agent and delivered to the Escrow Agent, without inter est with interest thereon or deduction therefromat its passbook rate for the period held in escrow, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company a Selected Placement Agent and delivered to the Escrow Agent, without with interest thereon or deduction therefromat its passbook rate for the period held in escrow, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds received by a Selected Placement Agent and delivered to the Escrow Agent in the form so received and delivered, without with interest thereon or deduction therefromat its passbook rate for the period held in escrow, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish maintain an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. Harp & Eagle, Ltd. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Falls Road, Xxxx Xxxx XxxxxGrafton, Xxxxxxx 00000 xxgether Wisconsin 53024, by 12:00, noon, on the busixxxx xxx xxxxxxxxx xxxxxxx xxxxxxx xx xxe Company, together with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units Common Stock (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, delivered as aforesaid, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant heretoto this Agreement. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receiptreceipt of such subscription, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the CompanyAgent. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agentit, without inter est interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agentit, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds delivered to the Escrow Agent it, in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. IPO Investors Network, Inc. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Falls Road, Xxxx Xxxx XxxxxGrafton, Xxxxxxx 00000 xxgether Wisconsin 53024, together with a schedule of such payments and the subscriptions represented xxxx xxxxxxxx xxx xxx xxxxxxxxxxxxx xxxresented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant hereto. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receipt, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the Company. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without inter est interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds received by a Selected Placement Agent and delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac count. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent at 1800 1801 Xxxxxx Xxxx Xxxxxxxxx, Xxxx Xxxx Xxxxx, Xxxxxxx 00000 xxgether xxxether with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant hereto. (c) If a subscription is not accepted by the Company, the Company shall, within five days following its receipt, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the Company. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without inter est thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. Mentor Capital Consultants, Inc. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the Company. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Falls Road, Xxxx Xxxx XxxxxGrafton, Xxxxxxx 00000 xxgether Wisconsin 53024, together with a schedule of such payments and the subscriptions represented xxxx xxxxxxxx xxx xxx xxxxxxxxxxxxx xxxresented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant hereto. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receipt, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by the Company. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without inter est interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company and delivered to the Escrow Agent, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds received by a Selected Placement Agent and delivered to the Escrow Agent in the form so received and delivered, without interest thereon or deduction therefrom, to the rejected subscriber at the address provided by the Company.

Deposit Procedure. (a) The Escrow Agent shall establish an appropriate segregated account (the "Escrow Account") designated as the "Ackeeox Corp. " International Monetary Systems, Ltd. Escrow Account," or with such other appropriate designation as shall be assigned by the Escrow Agent and communicated to the CompanyCompany and the Managing Placement Agent. The Escrow Agent shall cause all Subscription Proceeds transmitted to it by the Company Selected Placement Agents to be held in the Escrow Ac countAccount. All checks received by the Escrow Agent are to be held uncashed until required to be submitted for collection pursuant to paragraph 2(b) of this Agreement. (b) All Subscription Proceeds received by the Company Selected Placement Agents shall be promptly delivered to the Escrow Agent Agent, at 1800 Xxxxxx Xxxx Xxxxxxxxx101 Xxxxx Xxxx, Xxxx Xxxx XxxxxXxxxxxx, Xxxxxxx 00000 xxgether Xxxxxxxxx 00000, xx 12:00, noon, on the business day following receipt thereof by a Selected Placement Agent, together with a schedule of such payments and the subscriptions represented thereby. Provided that the Escrow Agent shall have received with respect to each subscription for Units Common Stock (i) Facsimile Notice (as defined herein) from the Company that a subscription has been received by the Company and (ii) Subscription Proceeds in the amount required to pay in full for such subscription, delivered by a Selected Placement Agent as aforesaid, the Escrow Agent shall immediately commence the collection process (as applicable) with respect to such Subscription Proceeds. Any payment item which is returned to the Escrow Agent on its initial presentation for payment need not again be presented for collection. The Facsimile Notice provided for in this paragraph shall be given by the Company not more than five (5) days following receipt by the Escrow Agent of such Subscription Proceeds and not less than two (2) business days prior to any disbursement of Subscription Proceeds by the Escrow Agent pursuant heretoto this Agreement. (c) If a subscription is not accepted by the Company, the Company shall, within five (5) days following its receiptreceipt from a Selected Placement Agent of such subscription, provide the Escrow Agent with Facsimile Notice (as defined herein) of the name of the rejected subscriber, the address of the rejected subscriber, and the amount of Subscription Proceeds received from such rejected subscriber and delivered to the Escrow Agent by a Selected Placement Agent, as reported to the CompanyCompany pursuant to the Managing Placement Agent Agreement. (d) If the Escrow Agent is holding collected funds with respect to a rejected subscription, the Escrow Agent shall promptly remit the full amount of Subscription Proceeds received by the Company a Selected Placement Agent and delivered to the Escrow Agent, without inter est with interest thereon or deduction therefromat its passbook rate for the period held in escrow, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has presented the Subscription Proceeds of a rejected subscriber for collection but has not yet collected funds, the Escrow Agent shall, promptly upon collection of such funds, remit the full amount of Subscription Proceeds received by the Company a Selected Placement Agent and delivered to the Escrow Agent, without with interest thereon or deduction therefromat its passbook rate for the period held in escrow, to the rejected subscriber at the address provided by the Company. If the Escrow Agent has not yet presented the Subscription Proceeds of a rejected subscriber for collection, the Escrow Agent shall promptly return in full the Subscription Proceeds received by a Selected Placement Agent and delivered to the Escrow Agent in the form so received and delivered, without with interest thereon or deduction therefromat its passbook rate for the period held in escrow, to the rejected subscriber at the address provided by the Company.