Common use of DRS Settlement Clause in Contracts

DRS Settlement. Subject to compliance with Rule 15c2-4 of the Exchange Act, in connection with the purchases using DRS Settlement, the Dealer Manager or Participating Broker-Dealer, as applicable, will promptly deposit any checks received from subscribers in an escrow account maintained by UMB Bank, National Association by the end of the next business day following receipt of the subscriber’s subscription documents and check. Where the subscription review procedures are more lengthy than customary or pursuant to a Participating Broker-Dealer’s internal supervising review procedures, a subscriber’s check shall be transmitted by the end of the next business day following receipt by the review office. Any subscription payments received by the escrow agent will be deposited into a special non-interest bearing account in the Company’s name until such time as the Company has either accepted or rejected the subscription and will be held in trust for the Investor’s benefit, pending the acceptance of the subscription. Subscriptions will be accepted or rejected within 10 business days of receipt by the Company, and, if rejected, all funds shall be returned to the rejected subscribers within 10 business days. If accepted, the funds will be transferred into the Company’s general account on the next closing date. The Company will provide Investors a confirmation of their purchase subsequent to closing, and will generally admit stockholders on a semimonthly basis.

DRS Settlement. Subject to compliance with Rule 15c2-4 of the Exchange Act, in connection with the purchases using DRS Settlement, the Dealer Manager or Participating Broker-Dealer, as applicable, will promptly deposit any checks received from subscribers in an escrow account maintained by UMB Bank, National Association [___________] by the end of the next business day following receipt of the subscriber’s subscription documents and check. Where the subscription review procedures are more lengthy than customary or pursuant to a Participating Broker-Dealer’s internal supervising review procedures, a subscriber’s check shall be transmitted by the end of the next business day following receipt by the review office. Any subscription payments received by the escrow agent will be deposited into a special non-interest bearing account in the Company’s name until such time as the Company has either accepted or rejected the subscription and will be held in trust for the Investor’s benefit, pending the acceptance of the subscription. Subscriptions will be accepted or rejected within 10 business days of receipt by the Company, and, if rejected, all funds shall be returned to the rejected subscribers within 10 business days. If accepted, the funds will be transferred into the Company’s general account on the next closing date. The Company will provide Investors a confirmation of their purchase subsequent to closing, and will generally admit stockholders on a semimonthly basis.