Common use of Deposits in Escrow Clause in Contracts

Deposits in Escrow. (a) The Company shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”).

Deposits in Escrow. (a) The Company shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) Agent, to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) Agreement, all proceeds received from the Company or sale of the Broker-Dealer of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from Shares to the Subscribers are (the “Subscription Proceeds.” ”). The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Companychannels. “Contingency” means (a) the verification Checks for Subscription Proceeds furnished by the Broker-Dealer of Record of the “qualified purchaser” status of each accepted Subscriber Subscribers shall be made payable to: SunTrust Bank, as Escrow Agent for an Offering of a particular series of the CompanyStem Sales, Inc. (b) The Company shall deliver to the qualification Escrow Agent, in a form acceptable to the Escrow Agent, schedules disclosing the name and address of each of the Subscribers, the number of Shares subscribed for by each Subscriber, the Federal tax identification number of each of the Subscribers, the amount of Subscription Proceeds received from each Subscriber, and such other information as will enable the Escrow Agent to attribute to a particular Subscriber all Subscription Proceeds received by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”)Escrow Agent.

Deposits in Escrow. (a) The Company and Broker of Record shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer Broker of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer Broker of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, and (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”).

Deposits in Escrow. (a) The Company and Broker of Record shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer Broker of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer Broker of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”).

Deposits in Escrow. (a) The Company shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”).

Deposits in Escrow. (a) The Company shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” ”. The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”). Subscription Proceeds may be invested only in investments permissible under SEC Rule 15c2-4.

Deposits in Escrow. (a) The Company and Broker of Record shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer Broker of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”” of RSE Archive, LLC) as described in Section 34. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer Broker of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”).

Deposits in Escrow. (a) The Company and Broker of Record shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) to be held in escrow under the terms of this Agreement until it receives notice of a Contingency (as defined below) from the Company or the Broker-Dealer Broker of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 34. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Company. “Contingency” means (a) the verification by the Broker-Dealer Broker of Record of the “qualified purchaser” status of each accepted Subscriber for an Offering of a particular series of the Company, (b) the qualification by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, and (c) the receipt of subscriptions and acceptance of the related Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for at least the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the cover page table and Master Series Table of the offering circular or amendment or supplement thereto with respect to such Offering, a copy of which is available on the Company’s XXXXX filing page of the Securities and Exchange Commission’s website at xxx.xxx.xxx and is accessible to investors at the time of making their investment decision with respect to the particular Offering (the “Total Minimum Interests”).

Deposits in Escrow. (a) The Company shall deposit or cause to be deposited with the Escrow Agent all subscription proceeds received from investors who desire to purchase the securities (the “Subscribers”) Agent, to be held in escrow under the terms of this Agreement until it receives notice Agreement, all subscription proceeds received for purchases of a Contingency Preferred Units in the Offering (as defined below) from the Company or the Broker-Dealer of Record (each, an “Authorized Representative,” and together, the “Authorized Representatives”) as described in Section 3. Proceeds the Escrow Agent receives from the Subscribers are “Subscription Proceeds.” ”). The Escrow Agent shall have no responsibility for Subscription Proceeds until such proceeds are actually received, clear through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any Subscription Proceeds, except to place such proceeds or instruments representing such proceeds for deposit and payment through customary banking channels and through the payment services provider of the Companychannels. Checks for Subscription Proceeds furnished by Subscribers shall be made payable to: “Contingency” means (a) the verification by the Broker-Dealer of Record of the “qualified purchaser” status of each accepted Subscriber Truist Bank, as Escrow Agent for an Offering of a particular series of the CompanyModular Medical, Inc. Best Efforts Public Offering.” (b) The Company shall deliver to the qualification Escrow Agent, in a form acceptable to the Escrow Agent, schedules disclosing the name and address of each of the Subscribers, the number of Preferred Units subscribed for by each Subscriber, the Federal tax identification number of each of the Subscribers, the amount of Subscription Proceeds received from each Subscriber, and such other information as will enable the Escrow Agent to attribute to a particular Subscriber all Subscription Proceeds received by the Securities and Exchange Commission of an offering circular or amendment thereto with respect to the Offering of a particular series of the Company, (c) the acceptance of the Subscription Agreements by the Company for an Offering of a particular series of the Company, and (d) the acceptance of subscriptions for the minimum amount of interests to be issued for an Offering of a particular series of the Company, as set forth in the offering circular or amendment or supplement thereto with respect to such Offering (the “Total Minimum Interests”)Escrow Agent.