Interest Payable to Subscribers. If the Offering terminates prior to receipt of the Required Capital, interest income earned on subscription proceeds deposited in the Escrow Account (the “Escrow Income”) shall be remitted to Subscribers, or to the Company if the applicable Subscriber’s funds have been held in escrow by the Escrow Agent for less than 35 days, in accordance with Section 2(b) and without any deductions for any fees or expenses. The Escrow Agent shall remit the Escrow Income in accordance with Section 2(b). If the Company chooses to leave the Escrow Account open after receiving the Required Capital, then it shall make regular acceptances of subscriptions therein, but no less frequently than monthly, and the Escrow Income from the last such acceptance shall be calculated and remitted to the Subscribers or the Company, as applicable, pursuant to the provisions of Section 2(b)(4).
Appears in 4 contracts
Samples: Escrow Agreement (Pathway Energy Infrastructure Fund, Inc.), Escrow Agreement (Pathway Energy Infrastructure Fund, Inc.), Escrow Agreement (Priority Senior Secured Income Fund, Inc.)
