Deposit with Escrow Agent. (a) The Escrow Agent agrees that it will from time to time accept, in its capacity as escrow agent, subscription funds for the Shares (the "Escrowed Funds") in the form of checks received by the Company from subscribers. All checks shall be made payable to the Escrow Agent. If any check does not clear normal banking channels in due course, the Escrow Agent will promptly notify the Company. Any check which does not clear normal banking channels and is returned by the drawer's bank to Escrow Agent will be promptly turned over to the Company along with all other subscription documents relating to such check. Any check received that is made payable to a party other than the Escrow Agent shall be returned to the Company for return to the proper party. The Company in its sole and absolute discretion may reject any subscription for shares for any reason and upon such rejection it shall notify and instruct the Escrow Agent in writing to return the Escrowed Funds by check made payable to the subscriber. If the Company rejects or cancels any subscription for any reason the Company will retain any interest earned on the Escrowed Funds to help defray organizational costs.
(b) Subscription agreements for the Shares shall be reviewed for accuracy by the Company and, immediately thereafter, the Company shall deliver to the Escrow Agent the following information: (i) the name and address of the subscriber; (ii) the number of Shares subscribed for by such subscriber; (iii) the subscription price paid by such subscriber; (iv) the subscriber's tax identification number certified by such subscriber; and (v) a copy of the subscription agreement.
Deposit with Escrow Agent. The Escrow Agent agrees to accept and hold, from time to time, funds that shall be delivered to the Escrow Agent. The Escrow Agent shall place the escrow deposits in an interest-bearing account captioned "Sterling Trust Company, Escrow Agent fbo Zion Oil Subscribers" and will hold the funds for safekeeping. All checks delivered to the Escrow Agent shall be made payable to "Sterling Trust Company, Escrow Agent fbo Zion Oil Subscribers." Subscribers' checks will be transmitted to the Escrow Agent by noon of the next business day after receipt by broker/dealers. The funds will be held along with other escrow funds and the Escrow Agent will be responsible for subaccounting each account balance and the interest earned thereon. The Escrow Agent agrees that it shall only deposit into the Escrow Account checks made payable to the Escrow Agent and will promptly return any check which it receives which is not made payable to the Escrow Agent to the Sponsor. Each escrow deposit will be accompanied by a list provided by the Sponsor which specifies the name and address of the investor and the date and amount of each subscription in the Offering, and shall include a copy of the investor's completed subscription agreement which shall include investor's completed Certification of Taxpayer Identification Number as a substitute for IRS Form W-9 relating to U.S. residents and for IRS Form W-8Ben relating to non-U.S. residents . Funds received from persons purchasing subscriptions in the Offering shall be recorded on the books and records of Sterling Trust Company Escrow Account FBO (name of investor).
Deposit with Escrow Agent. At Closing of the sale and purchase of ------------------------- stock as provided in the Purchase Agreement, Purchaser shall deliver to the Escrow Agent the sum of One Million Dollars ($1,000,000) to be held, administered and distributed by the Escrow Agent pursuant to the terms of this Escrow Agreement.
Deposit with Escrow Agent. The Escrow Agent agrees that it will, from time to time, accept subscription payments for Shares (the "Escrow and Deposit") received by it from subscribers or broker-dealers authorized to sell Shares (the "Selling Dealers"). Until such time at least 1,200 Shares have been sold and the related Escrow Deposits in an aggregate amount not less than $1,200,000 have been duly distributed in accordance with Section 3.1 hereof, all subscription checks shall be made payable to the Escrow Agent. Subscription Agreements for the Shares received by the Company shall be reviewed for accuracy by the Company and, immediately thereafter, the Company shall deliver to Escrow Agent information describing (1) the name, address and Federal Tax Identification Number of the subscriber, (2) that number of Shares subscribed for by subscriber, and (3) the subscription price.
Deposit with Escrow Agent. As security for Purchaser's faithful performance of its obligations hereunder, Purchaser shall deposit, in cash, with the Seller , simultaneously with Purchaser's execution and delivery of this Agreement to Seller for Seller's acceptance, the Exxxxxx Money.
Deposit with Escrow Agent. Upon the Escrow Date, each Investor severally will deliver or cause to be delivered to the Escrow Agent payment to the escrow account identified on the cover page hereof (the "ESCROW ACCOUNT"), in the amount set forth next to such Investor's name in column 1 on Exhibit C hereto (together with any income and interest that accrues thereon, the "ESCROWED PROPERTY"). Such monies will be wire transferred directly from the Investors to the Escrow Account.
Deposit with Escrow Agent. The Escrow Agent agrees that it will from time to time accept as Escrow Agent funds (the "Escrow Deposit") received by it representing the subscription amount paid in cash by subscribers for the Company's Shares. Subscription Agreements for the Shares and accompanying checks received by the Placement Agent at its offices shall be reviewed for accuracy by the Placement Agent and, immediately thereafter, the Placement Agent shall deliver such checks to Escrow Agent pursuant to this Agreement. Accompanying each such check shall be information describing (1) the name, address and Federal Tax Identification
Deposit with Escrow Agent. (a) On or before the commencement of the offering, the Manager shall establish an escrow account with the Escrow Agent (the “Escrow Account”). Until such time that the Manager receives and accepts subscriptions for the Minimum Offering, MCUSA, the Manager, and the Fund shall deposit the Subscription Funds with the Escrow Agent, which shall be accompanied by a schedule listing (a) the name, address, tax identification number and such other information as the Escrow Agent may require and (b) the amount of Subscription Funds being deposited with the Escrow Agent for each Subscriber (the “Schedule of Subscribers”).
(b) The Escrow Agent shall have no duty to make any disbursement, investment or other use of Subscription Funds until and unless it has good and collected funds. In the event that any checks deposited in the Escrow Account are returned or prove uncollectible after the funds represented thereby have been released by the Escrow Agent, then the Fund shall promptly reimburse the Escrow Agent for any and all costs incurred for such, upon request, and the Escrow Agent shall deliver the returned checks to the Manager. The Escrow Agent shall be under no duty or responsibility to enforce collection of any check delivered to it hereunder. The Escrow Agent reserves the right to deny, suspend or terminate participation by a Subscriber to the extent the Escrow Agent deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with the purposes of the offering.
Deposit with Escrow Agent. The Escrow Agent agrees that it will, from time to time, accept subscription payments for Interests (the “Escrow Deposit”) received by it from the General Partner or the Dealer-Manager. Until such time as (1) at least 1,200 Is have been sold, all checks for such subscription payments received from all subscribers shall be made payable to “DBTCA as Escrow Agent for ICON Fund 14” and (2) at least 20,000 Interests have been sold, all checks for subscription payments from residents of the Commonwealth of Pennsylvania shall be made payable to “DBTCA as Escrow Agent for ICON Fund 14”. Subscription Agreements for the Interests received by the General Partner shall be reviewed for accuracy by the General Partner and, immediately thereafter, the General Partner shall deliver to Escrow Agent information describing the name, address and Federal Tax Identification Number of the subscriber.
Deposit with Escrow Agent. The Escrow Agent agrees that it will, from time to time, accept subscription payments for Shares (the “Escrow Deposit”) received by it from the Manager or the Dealer-Manager. Until such time as (1) at least 1,200 Shares have been sold, all checks for such subscription payments received from all subscribers shall be made payable to “The JX Xxxxxx Chase Bank as Escrow Agent for ICON Leasing Fund Twelve, LLC” and (2) at least 20,000 Shares have been sold, all checks for subscription payments from residents of the Commonwealth of Pennsylvania shall be made payable to “The JX Xxxxxx Cxxxx Bank as Escrow Agent for ICON Leasing Fund Twelve, LLC.” Subscription Agreements for the Shares received by the Manager shall be reviewed for accuracy by the Manager and, immediately thereafter, the Manager shall deliver to Escrow Agent information describing the name, address and Federal Tax Identification Number of the subscriber.
