Common use of Distribution of Subscription Proceeds Clause in Contracts

Distribution of Subscription Proceeds. If the Escrow Agent: (a) receives written notice from an authorized officer of the Managing General Partner that at least the minimum Subscription Proceeds of $1,000,000 have been received and accepted by the Managing General Partner; and (b) determines that Subscription Proceeds for at least $1,000,000 have cleared the banking system and are good; then the Escrow Agent shall promptly release and distribute to the Managing General Partner the escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on the Subscription Proceeds while held by the Escrow Agent in the escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on the Subscription Proceeds while held by the Escrow Agent in the escrow account, shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as the Subscription Proceeds clear the banking system and become good.

Distribution of Subscription Proceeds. If the Escrow Agent: (a) receives written notice from an authorized officer of the Managing General Partner that at least the minimum Subscription Proceeds of $1,000,000 have been received and accepted by the Managing General Partner; and (b) determines that Subscription Proceeds for at least $1,000,000 have cleared the banking system and are good; then the Escrow Agent shall promptly release and distribute to the Managing General Partner the escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on the Subscription Proceeds while held by the Escrow Agent in the an escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on the Subscription Proceeds while held by the Escrow Agent in the an escrow account, account shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as the Subscription Proceeds clear the banking system and become good.

Distribution of Subscription Proceeds. If the Escrow Agent: (a) receives written notice from an authorized officer of the Managing General Partner Company that at least the minimum Subscription Proceeds aggregate subscriptions of $1,000,000 200,000 have been received and accepted by the Managing General Partner; Company, and (b) determines that Subscription Proceeds for at least $1,000,000 200,000 as determined by the Company have cleared the banking system and are good; then , the Escrow Agent shall promptly release and distribute to the Managing General Partner the Company such escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on the such Subscription Proceeds while held by the Escrow Agent in the an escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on the such Subscription Proceeds while held by the Escrow Agent in the an escrow account, account shall be promptly released and distributed to the Managing General Partner Company by the Escrow Agent as the such Subscription Proceeds clear the banking system and become good.

Distribution of Subscription Proceeds. If the Escrow Agent: (a) receives written notice from an authorized officer of the Managing General Partner Company that at least the minimum Subscription Proceeds aggregate subscriptions of $1,000,000 700,000 have been received and accepted by the Managing General Partner; Company, and (b) determines that Subscription Proceeds for at least $1,000,000 700,000 as determined by the Company have cleared the banking system and are good; then , the Escrow Agent shall promptly release and distribute to the Managing General Partner the Company such escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on the such Subscription Proceeds while held by the Escrow Agent in the an escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on the such Subscription Proceeds while held by the Escrow Agent in the an escrow account, account shall be promptly released and distributed to the Managing General Partner Company by the Escrow Agent as the such Subscription Proceeds clear the banking system and become good.