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 the Minimum Offering Notice and cleared Subscription Funds therefore on or before the Expiration Date, Escrow Agent shall, within five (5) business days after such date and without any further instruction or direction from Issuer, return to each Subscriber, by bank draft and by first class mail, that portion of the Escrow Funds equal to the amount of the Subscription Funds paid by such Subscriber and deposited into the Escrow Account, plus interest and other income earned thereon.

Expiration of Offering Period. Notwithstanding anything to the contrary contained herein, if Escrow Agent shall not have received the a Minimum Offering Notice and cleared Subscription Funds therefore on or before one (1) year from the Expiration Datedate of the Offering Document, Escrow Agent shall, within five fifteen (515) business days after such date and without any further instruction or direction from IssuerAgent or Company, return to each SubscriberAgent, by certified or bank draft check and by first class mailmail or wire, that portion of the Cash Investment and any income earned on the Escrow Funds equal to the amount for all Subscribers. Agent shall thereafter promptly pay each Subscriber their Cash Investment and allocable share of the Subscription Funds paid by such Subscriber and deposited into the Escrow Account, plus interest and other income earned thereonearned.