Common use of Holding Proceeds of Rights Offering Clause in Contracts

Holding Proceeds of Rights Offering. (a) All proceeds received by the Agent from Shareholders in respect of the exercise of Rights shall be held by the Agent, on behalf of the Company, in a segregated interest-bearing account (the "Account"). Interest shall accrue at 85% of the the Federal Funds Rate to the Company on funds held in the Account pending disbursement in the manner described in Section 4(e) above. (b) The Agent shall deliver all proceeds received in respect of the exercise of Rights to the Company as promptly as practicable, but in no event later than ten business days after the Confirmation Date.

Holding Proceeds of Rights Offering. (a) All proceeds received by the Agent from Shareholders in respect of the exercise of Rights shall be held by the Agent, on behalf of the Company, in a segregated interest-bearing account (the "Account"). Interest shall accrue at 85% of the the Federal Funds Rate to the Company on funds held in the Account pending until disbursement in the manner described in Section 4(e) above. (b) The Agent shall deliver all proceeds received in respect of the exercise of Rights to the Company as promptly as practicable, but in no event later than ten business days after the Confirmation Confirm Date.

Holding Proceeds of Rights Offering. (a) All proceeds received by the Agent from Shareholders Stockholders in respect of the exercise of Rights shall be held by the Agent, on behalf of the Company, in a segregated interest-bearing account account, in the name of and for the benefit of the Company (the "Account"). Interest No interest shall accrue at 85% of the the Federal Funds Rate to the Company stockholders on funds held in the Account pending disbursement in the manner described in Section 4(e) above. (b) The Agent shall deliver all proceeds received in respect of the exercise of Rights to the Company as promptly as practicable, but in no event later than ten five business days after the Confirmation Date.

Holding Proceeds of Rights Offering. (a) All proceeds received by the Agent from Shareholders in respect of the exercise of Rights shall be held by the Agent, on behalf of the Company, in a segregated interest-bearing account (the "Account"). Interest shall accrue at 85% of the the Federal Fed Funds Rate to the Company on funds held in the Account pending disbursement in the manner described in Section 4(e) above. (b) The Agent shall deliver all proceeds received in respect of the exercise of Rights to the Company as promptly as practicable, but in no event later than ten business days after the Confirmation Date.