Common use of Deposits to the Bank Account Clause in Contracts

Deposits to the Bank Account. 3.1 The Issuer shall promptly deliver to the Escrow Agent all monies which it receives from prospective purchasers of the Securities, which monies shall be in the form of checks or wire transfers. Upon the Escrow Agent’s receipt of such monies, they shall be deposited in and credited to the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “Xxxxx X. Xxxxx Trust Account”. Any check payable other than to the Escrow Agent as required hereby shall be returned to the Issuer, by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered to the Escrow Agent pursuant to the terms of this Agreement.

Deposits to the Bank Account. 3.1 The Issuer shall promptly deliver to the Escrow Agent all monies which it receives from prospective purchasers of the Securities, which monies shall be in the form of checks checks, cash, or wire transfers. Upon the Escrow Agent’s receipt of such monies, they shall be deposited in and credited to the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “Xxxxx X. Xxxxx Trust Account”. Vufusion, Inc.” Any check payable other than to the Escrow Agent as required hereby shall be returned to the Issuer, by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered to the Escrow Agent pursuant to the terms of this Agreement.