Common use of Disbursement from the Escrow Account Clause in Contracts

Disbursement from the Escrow Account. 4.1 Subject to Section 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than $119,000, then the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Escrow Account for the amounts of such payments and mail them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund. If the Fund is equal to $119,000, the Escrow Account shall remain open beyond the Termination Date in accordance with Section 4.2 below.

Disbursement from the Escrow Account. 4.1 4.1. Subject to Section 4.3 below, if by the close of regular banking hours on the Termination Date the the. Escrow Agent determines that the amount in the Fund is less than $119,000500,000, then the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Escrow Account for the amounts of such payments and mail them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund. If the Fund fund is equal to $119,000500,000, the Escrow Account shall remain open beyond the Termination Date in accordance with Section 4.2 below.

Disbursement from the Escrow Account. 4.1 4.1. Subject to Section 4.3 below, if by the close of regular banking hours on the Termination Date the the. Escrow Agent determines that the amount in the Fund is less than $119,00075,000, then the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Escrow Account for the amounts of such payments and mail them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund. If the Fund fund is equal to $119,00075,000, the Escrow Account shall remain open beyond the Termination Date in accordance with Section 4.2 below.

Disbursement from the Escrow Account. 4.1 Subject to Section 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than $119,00075,000, then the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Escrow Account for the amounts of such payments and mail them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund. If the Fund is equal to $119,00075,000, the Escrow Account shall remain open beyond the Termination Date in accordance with Section 4.2 below.