Distribution of Subscription Proceeds. If the Escrow Agent:
Distribution of Subscription Proceeds. Subject to Section 6, if the Escrow Agent:
Distribution of Subscription Proceeds. (a). The Escrow Agent shall promptly distribute the deposited Subscription Proceeds, excluding any Interest Proceeds as calculated pursuant to Section 8, to the General Partner after receipt by the Escrow Agent of notice from the General Partner certifying that subscriptions for the Minimum Offering Amount have been received and accepted by the General Partner. Such notice shall state the date on which the initial closing date and release of the deposited Subscription Proceeds and all related Interest Proceeds shall occur. The Escrow Agent shall make such distributions to the General Partner on the initial closing date provided that such notice is received by 3:00 pm EST on a Business Day for the Escrow Agent to process such instructions that Business Day. If any date that is a deadline under this Agreement for giving the Escrow Agent notice or instructions or for the Escrow Agent to take action is not a Business Day, then such date shall be the Business Day immediately preceding that date.
Distribution of Subscription Proceeds. (a) The Escrow Agent shall promptly distribute the deposited Subscription Proceeds, plus any Interest Proceeds as calculated pursuant to Section 8, to the General Partner after receipt by the Escrow Agent of notice from the General Partner certifying that subscriptions for the Minimum Offering Amount have been received and accepted by the General Partner. Such notice shall state the date on which the initial closing date and release of the deposited Subscription Proceeds and all related Interest Proceeds shall occur. The Escrow Agent shall make such distributions to the General Partner on the initial closing date.
Distribution of Subscription Proceeds. If the Escrow Agent: ž receives proper written notice from an authorized officer of Sun that the Minimum Subscription Proceeds have been received and accepted; and ž determines that Subscription Proceeds are Distributable Subscription Proceeds; the Escrow Agent shall promptly release and distribute amounts and payees designated in writing from the Escrow Agent the Distributable Subscription Proceeds plus any interest earned while held by the Escrow Agent in the escrow account to the escrow account established under Rule 419 to the Securities Act of 1933. “Distributable Subscription Proceeds” are Subscription Proceeds which have been deposited in the escrow account (1) by wire transfer or (2) if by check, after a ten day period from the date of deposit, period of time which would usually be sufficient for Subscription Proceeds paid by check to have returned unpaid by the bank on which the check was drawn. After the initial distribution, any remaining Subscription Proceeds, plus any interest earned while held by the Escrow Agent in the escrow account, shall be promptly released and distributed by the Escrow Agent immediately if by wire and, if by check, after a 10 day period from the date of deposit to payees and in amounts designated in writing by Sun. Sun shall immediately return to the Escrow Agent any Subscription Proceeds which were paid by a check which were returned or otherwise not collected for any reason prior or subsequent to termination of this Agreement.
