Common use of Establishment of the Escrow Account Clause in Contracts

Establishment of the Escrow Account. On or prior to the date of ----------------------------------- commencement of the Offering, the parties shall establish a non-interest-bearing account with the Escrow Agent, which escrow account shall be entitled "Commonwealth Bankshares Capital Trust I, Escrow Account" (the "Escrow Account"). The Underwriter shall make, and shall instruct purchasers and Selected Dealers to make payment for the Preferred Securities by wire transfer of immediately available funds as follows:

Establishment of the Escrow Account. On or prior to the date of ----------------------------------- commencement of the Offering, the parties shall establish a non-interest-bearing account with the Escrow Agent, which escrow account shall be entitled "Commonwealth Bankshares Resource Capital Trust I, Escrow Account" (the "Escrow Account"). The Underwriter shall make, and shall instruct purchasers and Selected Dealers to make payment for the Preferred Common Securities and Capital Securities by wire transfer of immediately available funds as follows:: The Offerors will make payment of the Underwriter's commission as provided above.

Establishment of the Escrow Account. On or prior to the date of ----------------------------------- commencement of the Offering, the parties shall establish a non-interest-bearing account with the Escrow Agent, which escrow account shall be entitled "Commonwealth Bankshares Southern Financial Capital Trust I, Escrow Account" (the "Escrow Account"). The Underwriter Offerors shall make, and shall instruct purchasers and Selected Dealers to make payment for the Preferred Common Securities and the Underwriter's commission, and the Underwriter shall instruct its clearing agent to remit payment for the Capital Securities by wire transfer of immediately available funds as follows:

Establishment of the Escrow Account. On or prior to the date of ----------------------------------- commencement of the Offering, the parties shall establish a non-interest-bearing account with the Escrow Agent, which escrow account shall be entitled "Commonwealth Bankshares Guaranty Capital Trust I, Escrow Account" (the "Escrow Account"). The Underwriter shall make, and shall instruct purchasers and Selected Dealers to make payment for the Preferred Securities by wire transfer of immediately available funds as follows: