Common use of Establishment of the Escrow Account Clause in Contracts

Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a non-interest-bearing escrow account with the Escrow Agent, which escrow account is entitled “LM Funding America Escrow Account” (the “Escrow Account”). Payment for the Units may be made (i) by check, bank draft or money order made payable to “SunTrust Bank, as Escrow Agent for–LM Funding America, Inc.and delivered to the Sales Agent no less than four Business Days before the Closing Date (as defined below), IAA will cause the Sales Agent to transfer these funds directly to the Escrow Agent (“Monies Delivered”), (ii) by authorization of withdrawal from securities accounts maintained with the Sales Agent, or (iii) by wire transfer to the Escrow Agent pursuant to the instructions set forth on Exhibit “C”. If payment is made by authorization of withdrawal from securities accounts, the funds authorized to be withdrawn from a securities account will continue to accrue interest while held in the securities account, if any interest is to accrue on such amounts, at the contractual rates until closing or termination of the Offering (“Monies Authorized”). No interest will accrue on any Monies Authorized which are delivered to the Escrow Agent for deposit in the Escrow Account. If a purchaser authorizes the Sales Agent to withdraw the amount of the purchase price from a securities account, IAA will cause the Sales Agent to deliver the Monies Authorized to the Escrow Agent for deposit in the Escrow Account by 2:00 PM eastern daylight savings time on the Closing Date. Any check received which is made payable to any party other than the Escrow

Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a non-interest-bearing escrow account with the Escrow Agent, which escrow account is entitled “LM Funding America Escrow Account” (the “Escrow Account”). Payment for the Units may be made (i) by checkOn the Issue Date, bank draft or money order made payable to “SunTrust Bank, as Escrow Agent for–LM Funding America, Inc.and delivered to the Sales Agent no less than four Business Days before the Closing Date (as defined below), IAA will cause the Sales Agent to transfer these funds directly to the Escrow Agent (“Monies Delivered”)shall establish an escrow account in the name of the Trustee entitled the "Escrow Account pledged by VersaTel Telecom International N.V. to United States Trust Company of New York, as Trustee, acting in the name and on behalf of the Beneficiaries" at its office located at United States Trust Company of New York, 114 West 47th Street, New York, NY. The Escrow Account shall be a "secxxxxxxx xxxxxxx" xx xxxx xxxx xx xefined in the UCC. (ii) All U.S. dollar funds, including the Initial Escrow Amount, Pledged Securities and any Cash Equivalents accepted by authorization of withdrawal from securities accounts maintained with the Sales Agent, or (iii) by wire transfer to the Escrow Agent pursuant to this Agreement shall be held by the instructions set forth on Exhibit “C”. If payment is made by authorization Escrow Agent for the Trustee for the exclusive benefit of withdrawal from securities accountsthe holders of the Notes, as secured parties hereunder (collectively, the "Beneficiaries"). All such funds authorized to shall be withdrawn from a securities account will continue to accrue interest while held in the securities accountEscrow Account until disbursed or paid in accordance with the terms hereof. (iii) On the Issue Date, if any interest is to accrue on such amountsthe Company shall deliver, at or cause the contractual rates until closing or termination of delivery of, either (x) the Offering (“Monies Authorized”). No interest will accrue on any Monies Authorized which are delivered Initial Escrow Amount to the Escrow Agent for deposit in into the Escrow Account. If a purchaser authorizes Account against the Sales Agent to withdraw the amount Escrow Agent's written acknowledgement and receipt of the Initial Escrow Amount, and the Escrow Agent shall purchase price from pursuant to written instructions of the Company or its Agent, Pledged Securities, with all or a securities accountportion of the Initial Escrow Amounts, IAA will or (y) the Pledged Securities and deliver or cause the Sales Agent to deliver the Monies Authorized be delivered such Pledged Securities to the Escrow Agent for deposit in into the Escrow Account against the Escrow Agent's written acknowledgement and receipt of such Pledged Securities. Such Pledged Securities shall be held by 2:00 PM eastern daylight savings time the Escrow Agent acting in the name and on behalf of the Beneficiaries and deposited into the Escrow Account for the exclusive benefit of the Beneficiaries. All payments of interest and principal on the Closing Date. Any check received which is made payable Pledged Securities shall be deposited into the Escrow Account to any party other than be paid or disbursed in accordance with the Escrowterms hereof or, to the extent permitted by Section 2(d)(i) hereof, reinvested in Cash Equivalents.

Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a non-interest-bearing escrow account with the Escrow Agent, which escrow account is entitled “LM Funding America Escrow Account” (the “Escrow Account”). Payment for the Units may be made (i) by checkOn the Issue Date, bank draft or money order made payable to “SunTrust Bank, as Escrow Agent for–LM Funding America, Inc.and delivered to the Sales Agent no less than four Business Days before the Closing Date (as defined below), IAA will cause the Sales Agent to transfer these funds directly to the Escrow Agent (“Monies Delivered”)shall establish an escrow account in the name of the Trustee entitled the "Escrow Account pledged by VersaTel Telecom B.V. to United States Trust Company of New York, as Trustee, acting in the name and on behalf of the Beneficiaries" at its office located at United States Trust Company of New York, 114 Xxxx 00xx Xxxxxx, Xxx Xxxx, XX. Xxe Escrow Account shall be a "securities account" as such term is defined in the UCC. (ii) All U.S. dollar funds, including the Initial Escrow Amount, Pledged Securities and any Cash Equivalents accepted by authorization of withdrawal from securities accounts maintained with the Sales Agent, or (iii) by wire transfer to the Escrow Agent pursuant to this Agreement shall be held by the instructions set forth on Exhibit “C”. If payment is made by authorization Escrow Agent for the Trustee for the exclusive benefit of withdrawal from securities accountsthe holders of the Notes, as secured parties hereunder (collectively, the "Beneficiaries"). All such funds authorized to shall be withdrawn from a securities account will continue to accrue interest while held in the securities accountEscrow Account until disbursed or paid in accordance with the terms hereof. (iii) On the Issue Date, if any interest is to accrue on such amountsthe Company shall deliver, at or cause the contractual rates until closing or termination of delivery of, either (x) the Offering (“Monies Authorized”). No interest will accrue on any Monies Authorized which are delivered Initial Escrow Amount to the Escrow Agent for deposit in into the Escrow Account. If a purchaser authorizes Account against the Sales Agent to withdraw the amount Escrow Agent's written acknowledgement and receipt of the Initial Escrow Amount, and the Escrow Agent shall purchase price from pursuant to written instructions of the Company or its Agent, Pledged Securities, with all or a securities accountportion of the Initial Escrow Amounts, IAA will or (y) the Pledged Securities and deliver or cause the Sales Agent to deliver the Monies Authorized be delivered such Pledged Securities to the Escrow Agent for deposit in into the Escrow Account against the Escrow Agent's written acknowledgement and receipt of such Pledged Securities. Such Pledged Securities shall be held by 2:00 PM eastern daylight savings time the Escrow Agent acting in the name and on behalf of the Beneficiaries and deposited into the Escrow Account for the exclusive benefit of the Beneficiaries. All payments of interest and principal on the Closing Date. Any check received which is made payable Pledged Securities shall be deposited into the Escrow Account to any party other than be paid or disbursed in accordance with the Escrowterms hereof or, to the extent permitted by Section 2(d)(i) hereof, reinvested in Cash Equivalents.