Distribution of Escrowed Funds. The Escrow Agent shall distribute the Escrowed Funds in the amounts, at the times, and upon the conditions hereinafter set forth in this Agreement.
Distribution of Escrowed Funds. The Escrow Agent shall release from the Escrow Account to the Company any and all Escrowed Funds therein, together with all interest earned thereon, upon the written request of an officer of the Company.
Distribution of Escrowed Funds. (a) Upon receipt of a written notice from the Company to the Escrow Agent and the Transfer Agent by 3:00 P.M. Eastern Time that the Company has subscriptions for at least $2,000,000 in Shares, and contingent upon the prior day’s notification by the Company to the Escrow Agent and the Transfer Agent of the Company’s best efforts at an estimate of the amount of funds anticipated to be released from the Escrow Account, the Escrow Agent will release that day from the Escrow Account to the Company (or otherwise will release within one Business Day following receipt by Escrow Agent and Transfer Agent of such notice), all Escrowed Funds therein (such date of release is referred to in this Agreement as the “Initial Closing Date”). Accrued and unpaid interest on such Escrowed Funds shall be paid pursuant to Section 5(b) below.
Distribution of Escrowed Funds. Unless a notice under Section 1.02(b) hereof has been given and Escrowed Funds in satisfaction of such notice have not been delivered to Purchaser, either because the 20-day period has not yet run out or because a dispute relating to the claim made by such notice is then pending, the Escrowed Funds or such portion of them as at the time remains in escrow and is not in dispute, together with all dividends and distributions received by Escrow Agent with respect thereto, shall be returned to Seller on the first anniversary of the Closing Date.
Distribution of Escrowed Funds. The Escrow Agent is directed to hold and distribute the Escrowed Funds in the following manner:
Distribution of Escrowed Funds. From time to time, the Escrow Agent shall release from the Escrow Account to the Company any and all collected Escrowed Funds, upon written request of an officer of the Company (a “Release Request”). The Escrow Agent shall hold subscribers’ Payments in the Escrow Account until the funds have been collected and until the receipt of a Release Request, each of which shall be delivered by the Company following the Company’s acceptance of the respective subscriber’s subscription and admission of such subscriber as a stockholder.
Distribution of Escrowed Funds. (a) If Purchaser fails to make a Claim on or prior to the Claim Expiration Time in accordance with Section 5 hereof or if any and all Claims have been resolved and paid at such time, then as promptly as practicable thereafter (and in no event later than ten (10) Business Days following the Claim Expiration Time), the Escrow Agent shall deliver the Escrowed Shares with all other Escrowed Funds relating to such Escrowed Shares to the Holders pro rata in accordance with their respective ownership of Escrowed Shares at the time of such distribution.
Distribution of Escrowed Funds. (a) Upon receipt of a written notice from the Company to the Escrow Agent by 3:00 P.M. Eastern Time that the Company has subscriptions for at least $2,000,000 in Shares, and contingent upon the prior day’s notification by the Company to the Escrow Agent of the Company’s best efforts at an estimate of the amount of funds anticipated to be released from the Escrow Account, the Escrow Agent will release that day from the Escrow Account to the Company (or otherwise will release within one Business Day (as defined herein) following receipt by Escrow Agent of such notice), all Escrowed Funds therein (such date of release is referred to in this Agreement as the “Initial Closing Date”). An affidavit or certification from an officer of the Company to the Escrow Agent stating that at least $2,000,000 in Shares have been timely sold, shall constitute sufficient evidence for the purpose of this Agreement that such event has occurred (the “Subscription Affidavit”). The Subscription Affidavit shall indicate (i) the date on which at least an aggregate of $2,000,000 in Shares were sold (the “Break Escrow Date”) and (ii) the actual total number of Shares sold as of the Break Escrow Date. The Escrow Account shall be closed after the Initial Closing Date pursuant to Section 4(c) below.
Distribution of Escrowed Funds. (a) Break Escrow – Initial Closing
Distribution of Escrowed Funds. Subject to satisfaction of all claims, if any, made prior to the date of distribution, the Escrow Agent shall distribute the Escrowed Funds to the Stockholder in the manner described in the Escrow Agreement.
