Common use of Distributions to Subscribers Clause in Contracts

Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $2,000,000 have been received and accepted by the Managing General Partner by twelve (12:00) p.m. (noon), local time, EASTERN STANDARD TIME on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent in writing, and the Escrow Agent promptly shall distribute to each Investor, for which Escrow Agent has (1) a copy of the Investor’s Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable Subscription Proceeds, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the Escrow Account. (b) If a subscription for Units submitted by an Investor is rejected by the Managing General Partner for any reason after such Subscription Proceeds relating to the subscription have been deposited with the Escrow Agent into the Escrow Account and the amount of time has passed which would usually be sufficient for Subscription Proceeds paid by check to have returned unpaid by the bank on which the check was drawn and after a three day period from the date of deposit, then the Managing General Partner promptly shall notify in writing, the Escrow Agent of the rejection, and the Escrow Agent shall promptly distribute to the Investor for which Escrow Agent has a copy of the Investor’s Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable Subscription Proceeds, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the escrow account.

Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $2,000,000 have been received and accepted by the Managing General Partner by twelve (12:00) p.m. a.m. (noonmidnight), local time, EASTERN STANDARD TIME Eastern Standard Time on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent in writingthat the minimum Subscription Proceeds of $2,000,000 has not been received and accepted, and the Escrow Agent promptly shall distribute to each Investor, Investor for which the Escrow Agent has (1) a copy of the Investor’s Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable Subscription ProceedsAgreement, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the Escrow Account.. Escrow Agreement 4 (b) If a subscription for Units submitted by an Investor is rejected by the Managing General Partner for any reason after such the Subscription Proceeds relating to the subscription have been deposited with the Escrow Agent into the Escrow Account and the amount of time has passed which would usually be sufficient for Subscription Proceeds paid by check to have returned unpaid by the bank on which the check was drawn and after a three day period from the date of depositAgent, then the Managing General Partner promptly shall notify in writing, the Escrow Agent in writing of the rejection, and the Escrow Agent shall promptly distribute to the Investor for which the Escrow Agent has a copy of the Investor’s a Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable Subscription ProceedsAgreement, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the escrow accountEscrow Account.

Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $2,000,000 have been received and accepted by the Managing General Partner by twelve (12:00) p.m. (noon), local time, EASTERN STANDARD TIME on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent in writing, and the Escrow Agent promptly shall distribute to each Investor, for which Escrow Agent has (1) a copy of the Investor’s Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable Subscription Proceeds, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the Escrow Accountescrow account. (b) If a subscription for Units submitted by an Investor is rejected by the Managing General Partner for any reason after such Subscription Proceeds relating to the subscription have been deposited with the Escrow Agent into the Escrow Account and the amount of time has passed which would usually be sufficient for Subscription Proceeds paid by check to have returned unpaid by the bank on which the check was drawn and after a three day period from the date of deposit, then the Managing General Partner promptly shall notify in writing, the Escrow Agent of the rejection, and the Escrow Agent shall promptly distribute to the Investor for which Escrow Agent has a copy of the Investor’s Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable distributable Subscription Proceeds, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the escrow account.