Oversubscription/Rejection Sample Clauses
Oversubscription/Rejection. If the Escrow Agent receives Instruments of Payment from Investors in aggregate equal to or greater than the maximum amount of the offering as communicated in writing to it by the Company, the Escrow Agent shall immediately notify the Company in writing, by facsimile or by e-mail. If at any time prior to the release of an Investor’s subscription pursuant to the terms of this Agreement, the Company shall deliver to the Escrow Agent a written notice to the effect that any or all of the subscription of such Investor has been rejected (the “Rejected Subscription Amount”) by the Company, the Escrow Agent shall, promptly after receipt of such written notice, which notice shall include wire or mailing information for such Investor, return to such Investor the amount of such Rejected Subscription Amount.
Oversubscription/Rejection. If the Escrow Agent receives checks and/or wire transfers from Investors equal to or greater than the maximum amount of the offering as communicated in writing to it by the Company and Placement Agent, the Escrow Agent shall immediately notify the Placement Agent and the Company in writing, by facsimile or by e-mail. If at any time prior to the release of an Investor’s subscription pursuant to the terms of this Agreement, the Company shall deliver to the Escrow Agent a written notice to the effect that any or all of the subscription of such Investor has been rejected (the “Rejected Subscription Amount”) by the Company, the Escrow Agent shall, promptly after receipt of such written notice, which notice shall include payment information for such Investor, return to such Investor the amount of such Rejected Subscription Amount, without any interest actually accrued on such amount.