Common use of ESCROW OF SECURITIES Clause in Contracts

ESCROW OF SECURITIES. In consideration of Ontro entering into this agreement Aura agrees that upon execution of this Agreement Aura or its designee shall deposit into Ontro's existing securities brokerage account with Xxxxx Fargo Xxx Xxxxxx (the "Account") for Ontro's benefit 2,500,000 shares of freely transferable common stock of Aura Systems, Inc. (the "Aura Systems Shares"). (a) After May 22, 2001 and from time to time thereafter Ontro may withdraw and sell the Aura System Shares for its benefit. Subject only to the other terms of this Agreement Ontro may withdraw and sell Aura System Shares in an amount (net of all costs of sale) Ontro needs to fund its ongoing operations, but in no event more then $230,000 in any one month. (b) Ontro may only withdraw and sell the Aura Systems Shares from the Account if all cash and marketable securities owned by Ontro have a total value less then $400,000 at the time of the withdrawal. Ontro may only withdraw and sell Aura Systems Shares from the Account until all proceeds from the sale of the Aura Systems Shares withdrawn from the Account (net of all costs of sale) is equal to $1,600,000 less all proceeds received from the sale of Shares pursuant to this Agreement. (c) Every time Ontro withdraws and sells Aura Systems Shares from the Account, Ontro shall immediately issue to Aura or its designee shares of common stock of Ontro. The number of shares of Ontro common stock to be issued to Aura or its designee shall be equal to the proceeds received by Ontro from the sale of the Aura Systems Shares withdrawn from the Account valuing each Ontro common share at $1.00. In addition Ontro shall pay to Aura the fees set forth in paragraph A. 2 above in connection with all Ontro common stock issued to Aura or its designee pursuant to this Section B.8.

ESCROW OF SECURITIES. In consideration of Ontro entering into this agreement Aura agrees that upon execution of this Agreement on or before February 1, 2001 Aura or its designee shall deposit into Ontro's existing securities brokerage an escrow or trust account with Xxxxx Fargo Xxx Xxxxxx for the benefit of Ontro (the "Account") for Ontro's benefit 2,500,000 shares of freely transferable common stock of Aura Systems, Inc. (securities actively trading on an exchange in the "Aura Systems Shares")United States. (a) The Account shall be established as soon as possible after the date of this Agreement. The Account shall be established by Ontro at Chicago Trust Company of California or at Ontro's election another escrow or trust company or brokerage firm mutually approved by Aura and Ontro. Ontro shall pay for the cost of establishing operating and closing the Account. (b) For purposes of this agreement Aura and Ontro agree the securities deposited into the Account shall have a value equal to the amount all of the securities deposited could be easily sold for in the open market in the United States (net of all costs of sale) in one trading day on February 1, 2001. Aura shall deposit securities into the account with a minimum value equal to $2,000,000 less the actual amount received by Ontro after the date of this Agreement and on or before February 1, 2001 from the sale of Shares. (c) After May 22February 1, 2001 and from time to time thereafter Ontro may withdraw and sell the Aura System Shares securities for its benefit. Subject only to the other terms of this Agreement Ontro may withdraw and sell Aura System Shares securities in an amount (net of all costs of sale) Ontro needs to fund its ongoing operations, but in no event more then $230,000 270,000 in any one month. (bd) Ontro may only withdraw and sell the Aura Systems Shares securities from the Account account if all cash and marketable securities owned by Ontro have a total value less then $400,000 at the time of the withdrawal. Ontro may only withdraw and sell Aura Systems Shares securities from the Account until all proceeds from the sale of the Aura Systems Shares securities withdrawn from the Account (net of all costs of sale) is equal to $1,600,000 1,560,000 less all proceeds received from the sale of Shares pursuant to this AgreementShares. (ce) Every time Ontro withdraws and sells Aura Systems Shares securities from the Account, Account Ontro shall immediately issue to Aura or its designee shares of common stock of Ontro. The number of shares of Ontro common stock to be issued to Aura or its designee shall be equal to the proceeds received by Ontro from the sale of the Aura Systems Shares securities withdrawn from the Account valuing each Ontro common share at $1.001.20. In addition Ontro shall pay to Aura the fees set forth in paragraph A. Section 2 above in connection with all Ontro common stock issued to Aura or its designee pursuant to this Section B.88 (e). Aura or its designee who receives the Ontro common shares shall execute all documents reasonably required by Ontro to issue the common stock, such documents to include by way if illustration and not limitation substantially all of the same representations and warranties Aura makes in section C below. (f) After Ontro has received a total of $1,560,000 from the combined sale of Shares and the sale of securities withdrawn from the Account (net of all costs of sale of the securities withdrawn from the Account) Ontro shall have no further right to the securities in the Account, and Ontro shall immediately cause all of the remaining securities in the Account to be returned to Aura or its designee.

ESCROW OF SECURITIES. In consideration of Ontro entering into this agreement Aura agrees that upon execution of this Agreement Aura or its designee shall deposit into Ontro's existing securities brokerage account with Xxxxx Wxxxx Fargo Xxx Vxx Xxxxxx (the "Account") for Ontro's benefit 2,500,000 shares of freely transferable common stock of Aura Systems, Inc. (the "Aura Systems Shares"). (a) After May 22, 2001 and from time to time thereafter Ontro may withdraw and sell the Aura System Shares for its benefit. Subject only to the other terms of this Agreement Ontro may withdraw and sell Aura System Shares in an amount (net of all costs of sale) Ontro needs to fund its ongoing operations, but in no event more then $230,000 in any one month. (b) Ontro may only withdraw and sell the Aura Systems Shares from the Account if all cash and marketable securities owned by Ontro have a total value less then $400,000 at the time of the withdrawal. Ontro may only withdraw and sell Aura Systems Shares from the Account until all proceeds from the sale of the Aura Systems Shares withdrawn from the Account (net of all costs of sale) is equal to $1,600,000 less all proceeds received from the sale of Shares pursuant to this Agreement. (c) Every time Ontro withdraws and sells Aura Systems Shares from the Account, Ontro shall immediately issue to Aura or its designee shares of common stock of Ontro. The number of shares of Ontro common stock to be issued to Aura or its designee shall be equal to the proceeds received by Ontro from the sale of the Aura Systems Shares withdrawn from the Account valuing each Ontro common share at $1.00. In addition Ontro shall pay to Aura the fees set forth in paragraph A. 2 above in connection with all Ontro common stock issued to Aura or its designee pursuant to this Section B.8.