Common use of Disbursements from the Proceeds Clause in Contracts

Disbursements from the Proceeds. On the second Business Day before the scheduled day of each month-end closing (each, a “Closing”), the General Partner shall notify the Escrow Agent of the amount that represents subscriptions to be accepted by the General Partner for each Partnership. Upon receipt of joint written notice from the General Partner and the Selling Agent on the date of each such closing to the effect that all of the terms and conditions with respect to the release of subscription funds from escrow set forth in the prospectuses have been fulfilled, the Escrow Agent shall on the date of such closing, or as soon thereafter as practicable, transmit to the Selling Agent an amount representing all or the specified portion of the Proceeds held by the Escrow Agent (including all accrued interest thereon) in the Escrow Account in the manner described in Section 5(a).

Disbursements from the Proceeds. On the second Business Day before the scheduled day of each month-end closing (each, a “"Closing”"), the General Partner shall notify the Escrow Agent of the amount that represents subscriptions to be accepted by the General Partner for each Partnership. Upon receipt of joint written notice from the General Partner and the Selling Agent on the date of each such closing to the effect that all of the terms and conditions with respect to the release of subscription funds from escrow set forth in the prospectuses have been fulfilled, the Escrow Agent shall on the date of such closing, or as soon thereafter as practicable, transmit to the Selling Agent an amount representing all or the specified portion of the Proceeds held by the Escrow Agent (including all accrued interest thereon) in the Escrow Account in the manner described in Section 5(a).