Common use of Expiration of Offering Period Clause in Contracts

Expiration of Offering Period. Notwithstanding anything to the contrary contained herein, if Escrow Agent shall not have received a Release Notice on or before December 31, 2002, Escrow Agent shall, within fifteen (15) business days after such date and without any further instruction or direction from Principal, return to each Subscriber, by certified or bank check and by first class mail, the Cash Investment made by such Subscriber, and shall pay as soon as practicable to the applicable Subscriber(s), by certified or bank check and by first class mail, each Subscriber's share of income earned on the Escrow Funds, each such share to be calculated on a Pro Rata Basis as calculated by the Principal and provided to the Escrow Agent.

Expiration of Offering Period. Notwithstanding anything to the contrary contained herein, if Escrow Agent shall not have received a Release Notice on or before December 31, 20022004, Escrow Agent shall, within fifteen (15) business days after such date and without any further instruction or direction from PrincipalCapital Tech, return to each Subscriber, by certified or bank check and by first class mail, the Cash Investment made by such Subscriber, and shall pay as soon as practicable to the applicable Subscriber(s), by certified or bank check and by first class mail, each Subscriber's share of income earned on the Escrow Funds, each such share to be calculated on a Pro Rata Basis as calculated by the Principal Capital Tech and provided to the Escrow Agent.