Common use of Payment of Escrow Funds Clause in Contracts

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's records; (d) to MD for distribution to each subscriber within 60 days of closing of a Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that Partnership, attributable to that subscriber as shown on Escrow Agent's records; and (e) to an account for a Partnership all remaining Escrow Funds attributable to that Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a Partnership unless the Escrow Agent shall have the excess of $1,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such Partnership of $1,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth in the Statement) in the Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 in Escrow Funds with respect to a Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that Partnership of $1,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's records; (d) to MD for distribution to each subscriber within 60 days of closing of a Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that Partnership, attributable to that subscriber as shown on Escrow Agent's records; and (e) to an account for a Partnership all remaining Escrow Funds attributable to that Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a Partnership unless the Escrow Agent shall have the excess of $1,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such Partnership of $1,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth in the Statement) in the Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 in Escrow Funds with respect to a Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that Partnership of $1,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.are

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a the Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's records; (d) to MD for distribution to each subscriber within 60 days of closing of a the Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that such Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that the Partnership, attributable to that subscriber as shown on Escrow Agent's records; and (e) to an account for a the Partnership all remaining Escrow Funds attributable to that the Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a the Partnership unless the Escrow Agent shall have the in excess of $1,000,000 5,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such the Partnership of $1,000,000 5,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth such term is defined in the Statement) in the that Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 5,000,000 in Escrow Funds with respect to a that Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that such Partnership of $1,000,000 5,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's ’s records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a the Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's ’s records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's ’s records; (d) to MD for distribution to each subscriber within 60 days of closing of a the Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that such Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that the Partnership, attributable to that subscriber as shown on Escrow Agent's ’s records; and (e) to an account for a the Partnership all remaining Escrow Funds attributable to that the Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a the Partnership unless the Escrow Agent shall have the in excess of $1,000,000 15,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such the Partnership of $1,000,000 15,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth such term is defined in the Statement) in the that Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 15,000,000 in Escrow Funds with respect to a that Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that such Partnership of $1,000,000 15,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a the Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's records; (d) to MD for distribution to each subscriber within 60 days of closing of a the Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that the Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that the Partnership, attributable to that subscriber as shown on Escrow Agent's records; and (e) to an account for a the Partnership all remaining Escrow Funds attributable to that the Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a the Partnership unless the Escrow Agent shall have the excess of $1,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such the Partnership of $1,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth such term is defined in the Statement) in the Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 in Escrow Funds with respect to a the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that the Partnership of $1,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.are

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a the Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's records; (d) to MD for distribution to each subscriber within 60 days of closing of a the Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that such Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that the Partnership, attributable to that subscriber as shown on Escrow Agent's records; and (e) to an account for a the Partnership all remaining Escrow Funds attributable to that the Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a the Partnership unless the Escrow Agent shall have the in excess of $1,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such the Partnership of $1,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth such term is defined in the Statement) in the that Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 in Escrow Funds with respect to a that Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that such Partnership of $1,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.

Payment of Escrow Funds. The Escrow Funds, or portions thereof, shall be paid out by Escrow Agent in accordance with written instructions from MD as follows: (a) to each subscriber, if any, whose subscription has been rejected by MD within five business days after the clearance of those Escrow Funds, that portion of the Escrow Funds attributable to that subscriber as shown on Escrow Agent's records, including any interest earned thereon; (b) to each subscriber, if any, whose Subscription Proceeds have not been contributed to a the Partnership prior to the termination of the offering period for Interests in the Partnership, and any subscriber who may be rejected as an Investor Partner subsequent to the period described in Subsection (a) of this Section 4, that portion of the Escrow Funds attributable to the rejected subscriber as shown on Escrow Agent's records together with any interest attributable thereto (as calculated by MD); (c) to each subscriber, if any, whose subscription has been reduced, that portion of the Escrow Funds equal to the amount of such reduction attributable thereto as shown on Escrow Agent's records; (d) to MD for distribution to each subscriber within 60 days of closing of a the Partnership, that portion of accrued and unpaid interest on the Escrow Funds relating to that the Partnership, which Escrow Funds were deposited no fewer than five business days prior to the termination of the offering of Interests in that the Partnership, attributable to that subscriber as shown on Escrow Agent's records; and (e) to an account for a the Partnership all remaining Escrow Funds attributable to that the Partnership. Notwithstanding the foregoing, no portion of the Escrow Funds may be paid to a the Partnership unless the Escrow Agent shall have the excess of $1,000,000 in Escrow Funds with respect to the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in such the Partnership of $1,000,000 or more have been received and cleared from subscribers that MD initially approves as suitable to be Investor Partners (as set forth such term is defined in the Statement) in the Partnership. Notwithstanding the provisions of this Section 4, or any other provision of this Escrow Agreement, after the Escrow Agent shall have in excess of $1,000,000 in Escrow Funds with respect to a the Partnership and MD informs the Escrow Agent in writing that aggregate Subscription Proceeds for Interests in that the Partnership of $1,000,000 or more have been received and cleared by Escrow Agent, upon the written request of MD, Escrow Agent shall disburse all or any portion of the Escrow Funds to an account established by MD for the Partnership. Notwithstanding anything contained herein to the contrary, it is expressly contemplated by MD and the Escrow Agent that MD shall be solely responsible for all computations and disbursements of interest and the preparation and mailing of all forms with respect thereto, including without limitation Form 1099 as is contemplated in Subsections (b), (c), and (d) of this Section 4. The Escrow Agent shall deliver to MD from time to time such records and information which are available to Escrow Agent and are necessary to make the computations of interest contemplated herein.