Common use of ISSUANCE INTO ESCROW Clause in Contracts

ISSUANCE INTO ESCROW. Notwithstanding any provision of this Agreement, upon delivery of the Phoenix Shares pursuant to Section 2.3, 10% of the aggregate number of the Phoenix Shares shall be delivered immediately to the Escrow Agent, on a pro rata basis among the Vendors, to be held and released by the Escrow Agent pursuant to the terms of this Agreement and the Escrow Agreement. All such Phoenix Shares shall be issued in the name of the Escrow Agent, as escrow agent under the Escrow Agreement. The Vendors hereby acknowledge receipt of such 10% of the purchase price of the Shares on their behalf by the Escrow Agent.

ISSUANCE INTO ESCROW. Notwithstanding any provision of this Agreement, upon delivery of the Phoenix Shares pursuant to Section 2.3, 10% of the aggregate number of the Phoenix Shares and Phoenix Shares representing the total amount of the specific contingencies referred to in Section 8 hereof calculated using an amount of SFr220,000 in respect of the specific contingency referred to in Section 8.2 hereof shall be delivered immediately to the Escrow Agent, on a pro rata basis among the Vendors, to be held and released by the Escrow Agent pursuant to the terms of this Agreement and the Escrow Agreement. All such Phoenix Shares shall be issued in the name of the Escrow Agent, as escrow agent under the Escrow Agreement. The Vendors hereby acknowledge receipt of such 1033.6% of the purchase price of the Shares on their behalf by the Escrow Agent.

ISSUANCE INTO ESCROW. Notwithstanding any provision of this Agreement, upon delivery of the Phoenix Shares pursuant to Section 2.32.5, 10% of the aggregate number of the common shares of Phoenix issuable in payment of the purchase price of the Shares and the Debentures shall be delivered immediately to the Escrow Agent, on a pro rata basis among the Vendors, to be held and released by the Escrow Agent pursuant to the terms of this Agreement and the Escrow Agreement. All such Phoenix Shares shall be issued in the name of the Escrow Agent, as escrow agent under the Escrow Agreement. The Vendors hereby acknowledge receipt of such 10% of the purchase price of the Shares and the Debentures on their behalf by the Escrow Agent.