Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank and bearing the title set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 6 contracts
Samples: Escrow Agreement (TV Productos Pro Co., Ltd.), Escrow Agreement (eBizware, Inc.), Escrow Agreement (eBizware, Inc.)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank of the West and bearing the title set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 5 contracts
Samples: Escrow Agreement (Personality Software Systems, Inc.), Escrow Agreement (Personality Software Systems, Inc.), Escrow Agreement (Introbuzz)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank of the West and bearing the title set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 4 contracts
Samples: Escrow Agreement (Turnpoint Global, Inc.), Escrow Agreement (Artison Investments, Ltd.), Escrow Agreement (Empire Commercial & Industrial Corp)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank of the West and bearing the title set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 3 contracts
Samples: Escrow Agreement (Sector 5, Inc.), Escrow Agreement (Sector 5, Inc.), Escrow Agreement (American Boarding Co)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and which are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 3 contracts
Samples: Registration Rights Agreement (Biozone Pharmaceuticals, Inc.), Securities Purchase Agreement (China Wood, Inc.), Registration Rights Agreement (New Leaf Brands, Inc.)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 2 contracts
Samples: Escrow Agreement (chatAND Inc), Escrow Agreement (chatAND Inc)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and which are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 2 contracts
Samples: Form of Escrow Agreement (MusclePharm Corp), Escrow Agreement (Vicor Technologies, Inc.)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo the Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer Purchasers to the Escrow AgentAgent in connection with their purchase of Preferred Shares, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Exhibit 4 (WWC Capital Fund Lp)
Establishment of the Bank Account. 2.1 3.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo the Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet Subscription Agreement (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers subscribers of the Securities Offering and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 2.1. The Escrow Agent shall establish a non-interest bearing bank account at the a branch of Xxxxx Fargo XX Xxxxxx Chase Bank NA selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer Escrow Agent from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow AgentSecurities, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Escrow Agreement (Ominto, Inc.)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank JX Xxxxxx Cxxxx selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transferstransfers only) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank of America and bearing the title set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer Placement Agent from prospective purchasers Investors of the Securities Shares and are delivered by the Issuer Placement Agent to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo the Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). While the funds are on deposit, the Escrow Agent may earn bank credits or other consideration. The purpose of the Bank Account is for (a) the deposit of all subscription purchase price monies (checks, cash or wire transfers) from the Purchasers which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription purchase price monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo the Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank and bearing the title designation set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo the Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities Units and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Escrow Agreement (China Advanced Construction Materials Group, Inc)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and Units which are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Bank of America and bearing the title set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Escrow Agreement (CME Realty Inc.)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest- bearing bank account at the branch of Xxxxx Fargo Bank and bearing the title designation set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the ““ Bank AccountAccount ”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Escrow Agreement (chatAND Inc)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo the Bank selected by the Escrow Agent and bearing the title designation set forth on the Information Sheet (heretofore defined as the “"Bank Account”"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash bank drafts, money orders or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at the branch of Xxxxx Fargo Prosperity Bank and bearing the title set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash cash, or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Escrow Agreement (Escue Energy Inc)
Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at the branch of Xxxxx Fargo Bank selected by the Escrow Agent, and bearing the title designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash checks or wire transfers) which are received by the Issuer Platforms from prospective purchasers of the Securities and are delivered by the Issuer Platform to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein. No interest will be available to either the purchasers or the Company (since the funds are being held in a non-interest bearing account).
Appears in 1 contract
Samples: Escrow Agreement (Medivie USA Inc.)