Common use of Establishment of Escrow Accounts Clause in Contracts

Establishment of Escrow Accounts. Within ten (10) Business Days from the execution of this Agreement, the Parties shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing account with the Escrow Agent to be held and disbursed as set forth in Section 2.11 and Article 12 below (the “Purchase Price Escrow Account”). On or before the Fund Delivery Deadline, the CDC shall deposit the CDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in the Purchase Price Escrow Account the Purchasers’ Resolutions by the Fund Delivery Deadline. Within three (3) Business Days from receiving written confirmation from the Escrow Agent that the Remediation Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver to the Escrow Agent a special warranty deed to the EDC Tract (the “EDC Tract Deed”) and a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue to the account of EDC and CDC, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time of the disbursement of the EDC Purchase Price and the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accounts.

Establishment of Escrow Accounts. Within ten (10) Business Days from On or prior to the execution of this AgreementEffective Date, the Parties Company and the Managing Dealer shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in establish an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing escrow account with the Escrow Agent to Agent, which escrow account shall be held and disbursed as set forth in Section 2.11 and Article 12 below entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE PROPERTIES, INC." (the “Purchase Price "Escrow Account”"). On or before All monies deposited in the Fund Delivery DeadlineEscrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the CDC shall deposit the CDC Purchase Price (less the amount order of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in until such time (if any) as the Purchase Price Escrow Account Escrowed Funds are deliverable to the Purchasers’ Resolutions by Company pursuant to the Fund Delivery Deadlineprovisions of Paragraph 5(a) below. Within three (3) Business Days from receiving written confirmation from From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Remediation Escrowed Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver are deliverable to the Escrow Agent a special warranty deed Company pursuant to the EDC Tract (the “EDC Tract Deed”provisions of Paragraph 5(a) and below that are made payable to a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to party other than the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue returned to the account of EDC and CDCSoliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time Soliciting Dealer will collect the proceeds of the disbursement subscribers' checks and issue a check made payable to the order of the EDC Purchase Price and Escrow Agent for the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding aggregate amount of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accountssubscription proceeds.

Establishment of Escrow Accounts. Within ten (10) Business Days from On or prior to the execution of this AgreementEffective Date, the Parties Company and the Managing Dealer shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in establish an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing escrow account with the Escrow Agent to Agent, which escrow account shall be held and disbursed as set forth in Section 2.11 and Article 12 below entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL AMERICAN REALTY FUND, INC." (the “Purchase Price "Escrow Account”"). On or before All monies deposited in the Fund Delivery DeadlineEscrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the CDC shall deposit the CDC Purchase Price (less the amount order of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in until such time (if any) as the Purchase Price Escrow Account Escrowed Funds are deliverable to the Purchasers’ Resolutions by Company pursuant to the Fund Delivery Deadlineprovisions of Paragraph 5(a) below. Within three (3) Business Days from receiving written confirmation from From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Remediation Escrowed Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver are deliverable to the Escrow Agent a special warranty deed Company pursuant to the EDC Tract (the “EDC Tract Deed”provisions of Paragraph 5(a) and below that are made payable to a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to party other than the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue returned to the account of EDC and CDCSoliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time Soliciting Dealer will collect the proceeds of the disbursement subscribers' checks and issue a check made payable to the order of the EDC Purchase Price and Escrow Agent for the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding aggregate amount of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accountssubscription proceeds.

Establishment of Escrow Accounts. Within ten (10) Business Days from On or prior to the execution of this AgreementEffective Date, the Parties Company and the Managing Dealer shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in establish an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing escrow account with the Escrow Agent to Agent, which escrow account shall be held and disbursed as set forth in Section 2.11 and Article 12 below entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL INCOME PROPERTIES, INC." (the “Purchase Price "Escrow Account”"). On or before All monies deposited in the Fund Delivery DeadlineEscrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the CDC shall deposit the CDC Purchase Price (less the amount order of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in until such time (if any) as the Purchase Price Escrow Account Escrowed Funds are deliverable to the Purchasers’ Resolutions by Company pursuant to the Fund Delivery Deadlineprovisions of Paragraph 5(a) below. Within three (3) Business Days from receiving written confirmation from From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Remediation Escrowed Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver are deliverable to the Escrow Agent a special warranty deed Company pursuant to the EDC Tract (the “EDC Tract Deed”provisions of Paragraph 5(a) and below that are made payable to a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to party other than the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue returned to the account of EDC and CDCSoliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time Soliciting Dealer will collect the proceeds of the disbursement subscribers' checks and issue a check made payable to the order of the EDC Purchase Price and Escrow Agent for the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding aggregate amount of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accountssubscription proceeds.

Establishment of Escrow Accounts. Within ten (10) Business Days from On or prior to the execution of this AgreementEffective Date, the Parties Company and the Managing Dealer shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in establish an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing escrow account with the Escrow Agent to Agent, which escrow account shall be held and disbursed as set forth in Section 2.11 and Article 12 below entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL INCOME PROPERTIES, INC." (the “Purchase Price "Escrow Account”"). On or before All monies deposited in the Fund Delivery DeadlineEscrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make Payments for subscriptions payable to the CDC shall deposit the CDC Purchase Price (less the amount order of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in until such time (if any) as the Purchase Price Escrow Account Escrowed Funds are deliverable to the Purchasers’ Resolutions by Company pursuant to the Fund Delivery Deadlineprovisions of Paragraph 5(a) below. Within three (3) Business Days from receiving written confirmation from From and after such time, Payments may be made payable to either the Escrow Agent or the Company. Any Payments received prior to the time, if any, that the Remediation Escrowed Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver are deliverable to the Escrow Agent a special warranty deed Company pursuant to the EDC Tract (the “EDC Tract Deed”provisions of Paragraph 5(a) and below that are made payable to a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to party other than the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue returned to the account of EDC and CDCSoliciting Dealer who submitted the Payment. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 broker-dealers" to instruct their customers to make their Payments for Shares subscribed for payable directly to the Soliciting Dealer. In such case, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time Soliciting Dealer will collect the proceeds of the disbursement subscribers' Payments and issue a Payment made payable to the order of the EDC Purchase Price and Escrow Agent for the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding aggregate amount of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accountssubscription proceeds.

Establishment of Escrow Accounts. Within ten (10) Business Days from the execution of this Agreement, the Parties shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing account with the Escrow Agent to be held and disbursed as set forth in Section 2.11 and Article 12 below (the “Purchase Price Escrow Account”). On or before the Fund Delivery Deadline, the CDC shall deposit the CDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in the Purchase Price Escrow Account the Purchasers’ Resolutions by the Fund Delivery Deadline. Within three (3) Business Days from receiving written confirmation from the Escrow Agent that the Remediation Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver to the Escrow Agent a special warranty deed to the EDC Tract (the “EDC Tract Deed”) and a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account Page 3 shall accrue to the account of EDC and CDC, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time of the disbursement of the EDC Purchase Price and the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accounts.. 2.5

Establishment of Escrow Accounts. Within ten (10) Business Days from On or prior to the execution of this AgreementEffective Date, the Parties Company and the Managing Dealer shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in establish an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing escrow account with the Escrow Agent to Agent, which escrow account shall be held and disbursed as set forth in Section 2.11 and Article 12 below entitled “ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HOSPITALITY PROPERTIES II, INC.” (the “Purchase Price Escrow Account”). On or before All monies deposited in the Fund Delivery DeadlineEscrow Account are hereinafter referred to as the “Escrowed Funds.” The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make Payments for subscriptions payable to the CDC shall deposit the CDC Purchase Price (less the amount order of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in until such time (if any) as the Purchase Price Escrow Account Escrowed Funds are deliverable to the Purchasers’ Resolutions by Company pursuant to the Fund Delivery Deadlineprovisions of Paragraph 5(a) below. Within three (3) Business Days from receiving written confirmation from From and after such time, Payments may be made payable to either the Escrow Agent or the Company. Any Payments received prior to the time, if any, that the Remediation Escrowed Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver are deliverable to the Escrow Agent a special warranty deed Company pursuant to the EDC Tract (the “EDC Tract Deed”provisions of Paragraph 5(a) and below that are made payable to a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to party other than the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue returned to the account of EDC and CDCSoliciting Dealer who submitted the Payment. The Managing Dealer may authorize certain Soliciting Dealers which are “$250,000 broker-dealers” to instruct their customers to make their Payments for Shares subscribed for payable directly to the Soliciting Dealer. In such case, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time Soliciting Dealer will collect the proceeds of the disbursement subscribers’ Payments and issue a Payment made payable to the order of the EDC Purchase Price and Escrow Agent for the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding aggregate amount of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accountssubscription proceeds.

Establishment of Escrow Accounts. Within ten (10) Business Days from On or prior to the execution of this AgreementEffective Date, the Parties Company and the Managing Dealer shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the aggregate amount of $5,000,000.00 to be held by the Escrow Agent in establish an interest-bearing account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing escrow account with the Escrow Agent to Agent, which escrow account shall be held and disbursed as set forth in Section 2.11 and Article 12 below entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL AMERICAN REALTY FUND, INC. (the “Purchase Price "Escrow Account”"). On or before All monies deposited in the Fund Delivery DeadlineEscrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the CDC shall deposit the CDC Purchase Price (less the amount order of the Xxxxxxx Money Funds deposited by CDC into the Xxxxxxx Money Funds Escrow Account) into the Purchase Price Escrow Account. EDC and CDC shall also deposit with the Escrow Agent in until such time (if any) as the Purchase Price Escrow Account Escrowed Funds are deliverable to the Purchasers’ Resolutions by Company pursuant to the Fund Delivery Deadlineprovisions of Paragraph 5(a) below. Within three (3) Business Days from receiving written confirmation from From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Remediation Escrowed Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver are deliverable to the Escrow Agent a special warranty deed Company pursuant to the EDC Tract (the “EDC Tract Deed”provisions of Paragraph 5(a) and below that are made payable to a special warranty deed to the CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to party other than the Escrow Agent shall be duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue returned to the account of EDC and CDCSoliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the time Soliciting Dealer will collect the proceeds of the disbursement subscribers' checks and issue a check made payable to the order of the EDC Purchase Price and Escrow Agent for the CDC Purchase Price to Exide. Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the account of EDC and/or CDC, in proportion to their relative contribution to the funding aggregate amount of the Xxxxxxx Money Funds Escrow Account, and shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a pro rata basis, which pro rata calculation shall be in proportion to the EDC and/or the CDC funding of the escrow accountssubscription proceeds.