Common use of Deposits in the Escrow Account Clause in Contracts

Deposits in the Escrow Account. The Transfer Agent will promptly deliver all monies received from subscribers for the payment of Shares to the Escrow Agent for deposit in the Escrow Account. Deposits shall be held in the Escrow Account until such funds are disbursed in accordance with this paragraph 2 hereof. Prior to disbursement of the funds deposited in the Escrow Account, such funds shall not be subject to claims by creditors of the Company or any of its affiliates. If any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to receipt of the Escrow Break Affidavit (as described below), the Escrow Agent shall promptly notify the Transfer Agent and the Company in writing via mail, email or facsimile of such nonpayment, and is authorized to debit the Escrow Account, as applicable in the amount of such returned payment as well as any interest earned on the amount of such payment. The Transfer Agent will maintain a written account of each sale, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the amount paid by such subscriber for such Shares. During the escrow period neither the Company nor Transfer Agent will be entitled to any principal funds received into the Escrow Account.

Deposits in the Escrow Account. The Transfer Agent Dealer Manager and/or the Selected Dealers will promptly deliver all any monies received from subscribers for the payment of Shares to the Escrow Agent for deposit in the Escrow Account, and the Escrow Agent shall deposit and hold in the Escrow Account any monies received directly from subscribers for the payment of Shares (collectively, the “Escrowed Funds”). Deposits All monies deposited into the Escrow Account shall be held in the Escrow Account until such funds are disbursed in accordance with this paragraph 2 hereof2. Prior to disbursement of the funds deposited in the Escrow Account, such funds shall not be subject to claims by creditors of the Company or any of its affiliates. If any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to receipt of the Break Escrow Break Affidavit (as described below), the Escrow Agent shall promptly notify the Company and Transfer Agent and the Company in writing via mail, email or facsimile of such nonpayment, and is authorized to debit the Escrow Account, as applicable in the amount of such returned payment as well as any interest earned on the amount of such payment. The Company will, or will cause the Transfer Agent will to maintain a written account of each sale, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the amount paid by such subscriber for such Shares. During the escrow period neither the Company nor Transfer Agent will be entitled to any principal funds received into the Escrow Account.

Deposits in the Escrow Account. The Transfer Agent During the Escrow Period, persons subscribing to purchase Shares will promptly deliver all monies received from subscribers be instructed by the Company, the Dealer Manager and the Participating Broker-Dealers to make checks for subscriptions payable to the order of “VII Peaks-KBR Co-Optivist Income BDC II, Inc.” Completed subscription agreements and checks in payment for the payment of Shares subscription amount shall be remitted to the Escrow Agent for deposit at the address set forth in the Escrow Accountsubscription agreement. Deposits shall be held in the Escrow Account until such funds Investor Funds are disbursed in accordance with this paragraph 2 hereofAgreement. Prior to disbursement of the funds Investor Funds deposited in the Escrow Account, such funds Investor Funds shall not be subject to claims by creditors of the Company or any of its affiliates. If any of the instruments checks of payment are returned to the Escrow Agent for nonpayment prior to receipt of the Escrow Break Affidavit (as described below)nonpayment, the Escrow Agent shall promptly notify the Transfer Agent and the Company in writing via mail, email or facsimile of such nonpayment, and the Escrow Agent is authorized to debit the Escrow Account, as applicable Account in the amount of such returned payment as well as any interest earned on and the amount of such paymentTransfer Agent shall delete the appropriate account from the records maintained by the Transfer Agent. The Company hereby directs the Escrow Agent to provide the Transfer Agent will maintain a written account with copies of each sale, which account shall set forth, among all subscriptions and checks and any other things, related information needed by the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the amount paid by such subscriber for such Shares. During the escrow period neither the Company nor Transfer Agent will be entitled to any principal funds received into maintain ownership records for the Escrow AccountShares.

Deposits in the Escrow Account. The Transfer Agent During the Escrow Period, the Dealer Manager and/or the Selected Dealers will promptly deliver all any monies received from subscribers for the payment of Shares to the Escrow Agent for deposit in the Escrow Account, and the Escrow Agent shall deposit and hold in the Escrow Account any monies received directly from subscribers for the payment of Shares (the “Escrowed Funds”). Deposits All monies deposited into the Escrow Account shall be held in the Escrow Account until such funds are disbursed in accordance with this paragraph 2 hereof2. Prior to disbursement of the funds deposited in the Escrow Account, such funds shall not be subject to claims by creditors of the Company Term Fund or any of its affiliates. If any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to receipt of the Break Escrow Break Affidavit (as described below), the Escrow Agent shall promptly notify the Transfer Agent and the Company Term Fund in writing via mail, email or facsimile of such nonpayment, and is authorized to debit the Escrow Account, as applicable in the amount of such returned payment as well as any interest earned on the amount of such payment. The Term Fund will, or will cause its transfer agent, DST Systems, Inc. (the “Transfer Agent will Agent”), to maintain a written account of each sale, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the amount paid by such subscriber for such Shares. During the escrow period Escrow Period, neither the Company Term Fund nor Transfer Agent the Dealer Manager will be entitled to any principal funds received deposited into the Escrow Account.