Common use of IMPOUND PERIOD Clause in Contracts

IMPOUND PERIOD. The Impound Period shall begin with the commencement of the Offering and shall terminate upon the earlier to occur of: (a) subject to paragraph 4B the date upon which the Impound Agent has received in the Escrow Account gross proceeds of $550,000 in deposited funds (the "Minimum"), (b) three months after the date of the Prospectus, or (c) the date upon which a determination is made by the Company in writing to the Impound Agent to terminate the offering prior to the sale of the Minimum. During the escrow period the Company is aware and understands that it is not entitled to any funds received into escrow, such funds are not assets of the Company and no amounts deposited in the Escrow Account shall become property of the Company or any other entity, or be subject to the debts of the Company of any other entity.

IMPOUND PERIOD. The Impound Period shall begin with the commencement of the Offering and shall terminate upon the earlier to occur of: (a) subject to paragraph 4B the date upon which the Impound Agent has received in the Escrow Account gross proceeds of $550,000 [ ]in deposited funds (the "Minimum"), (b) three months one year after the date commencement of the ProspectusOffering, or (c) the date upon which a determination is made by the Company in writing to the Impound Agent to terminate the offering prior to the sale of the Minimum. During the escrow period Impound Period the Company is aware and understands that it is not entitled to any funds received into escrowthe Escrow Account, such funds are not assets of the Company and no amounts deposited in the Escrow Account shall become property of the Company or any other entity, or be subject to the debts of the Company of or any other entity.

IMPOUND PERIOD. The Impound Period shall begin with the commencement of the Offering and shall terminate upon the earlier to occur of: (a) subject to paragraph 4B the date upon which the Impound Agent has received in the Escrow Account gross proceeds of $550,000 1,500,000 in deposited collected funds (the "Minimum"), (b) three months after the date of the ProspectusFebruary 28, 1998 or (c) the date upon which a determination is made by the Company in writing to the Impound Agent to terminate the offering prior to the sale of the Minimum. During the escrow impound period the Company is aware and understands that it is not entitled to any funds received into escrow, such funds are not assets of the Company and no amounts deposited in the Escrow Account shall become property of the Company or any other entity, or be subject to the debts of the Company of any other entity.

IMPOUND PERIOD. The Impound Period shall begin with the commencement of the Offering and shall terminate upon the earlier to occur of: (a) subject to paragraph 4B the date upon which the Impound Agent has received in the Escrow Account gross proceeds of $550,000 in deposited funds (the "Minimum"), (b) three months after the date of the Prospectus1998, or (c) the date upon which a determination is made by the Company in writing to the Impound Agent to terminate the offering prior to the sale of the Minimum. During the escrow period the Company is aware and understands that it is not entitled to any funds received into escrow, such funds are not assets of the Company and no amounts deposited in the Escrow Account shall become property of the Company or any other entity, or be subject to the debts of the Company of any other entity.

IMPOUND PERIOD. The Impound Period shall begin with the commencement of the Offering and shall terminate upon the earlier to occur of: (a) subject to paragraph 4B the date upon which the Impound Agent has received in the Escrow Account gross proceeds of $550,000 1,500,000 in deposited funds (the "Minimum"), (b) three months after the date of the ProspectusFebruary 28, 1998 or (c) the date upon which a determination is made by the Company in writing to the Impound Agent to terminate the offering prior to the sale of the Minimum. During the escrow period the Company is aware and understands that it is not entitled to any funds received into escrow, such funds are not assets of the Company and no amounts deposited in the Escrow Account shall become property of the Company or any other entity, or be subject to the debts of the Company of any other entity.