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 aggregate subscriptions 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 as determined by the Managing General Partner have cleared the banking system and are good; the Escrow Agent shall promptly release and distribute to the Managing General Partner such escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on such Subscription Proceeds while held by the Escrow Agent in an escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on such Subscription Proceeds while held by the Escrow Agent in an escrow account shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as such Subscription Proceeds clear the banking system and become good.

Distribution of Subscription Proceeds. If the Escrow Agent: (a) receives proper written notice from an authorized officer of the Managing General Partner that at least the minimum aggregate subscriptions 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 as determined by the Managing General Partner have been deposited, accepted and cleared the banking system and are good; then the Escrow Agent shall promptly release and distribute to the Managing General Partner such the escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on such the Subscription Proceeds while held by the Escrow Agent in an the escrow account. Any After the initial distribution, any remaining Subscription Proceeds, plus any interest paid and investment income earned on such the Subscription Proceeds while held by the Escrow Agent in an the escrow account account, shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as such the Subscription Proceeds clear the banking system and become goodafter a 10 day period from the date of deposit.

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 aggregate subscriptions 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 as determined by the Managing General Partner have cleared the banking system and are good; then the Escrow Agent shall promptly release and distribute to the Managing General Partner such escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on such Subscription Proceeds while held by the Escrow Agent in an escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on such Subscription Proceeds while held by the Escrow Agent in an escrow account shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as 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 that at least the minimum aggregate subscriptions 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 as determined by the Managing General Partner have cleared the banking system and are good; then, the Escrow Agent shall promptly release and distribute to the Managing General Partner such escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on such Subscription Proceeds while held by the Escrow Agent in an escrow account. Any remaining Subscription Proceeds, plus any interest paid and investment income earned on such Subscription Proceeds while held by the Escrow Agent in an escrow account shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as such Subscription Proceeds clear the banking system and become good.

Distribution of Subscription Proceeds. If the Escrow Agent: (a) receives proper written notice from an authorized officer of the Managing General Partner that at least the minimum aggregate subscriptions Subscription Proceeds of $1,000,000 have been received and accepted by the Managing General Partner; and and (b) determines that Subscription Proceeds for at least $1,000,000 as determined by the Managing General Partner have been deposited, accepted and cleared the banking system and are good; then the Escrow Agent shall promptly release and distribute to the Managing General Partner such the escrowed Subscription Proceeds which have cleared the banking system and are good plus any interest paid and investment income earned on such the Subscription Proceeds while held by the Escrow Agent in an the escrow account. Any After the initial distribution, any remaining Subscription Proceeds, plus any interest paid and investment income earned on such the Subscription Proceeds while held by the Escrow Agent in an the escrow account account, shall be promptly released and distributed to the Managing General Partner by the Escrow Agent as such the Subscription Proceeds clear the banking system and become goodafter a 10 day period from the date of deposit.