Post Escrow Break Period. From and after the Break Escrow Date until the Termination Date, the Escrow Agent, upon receipt of Escrow Release Notices, shall periodically transfer any portion of the Investor Funds to the Company or such other parties as set forth in the applicable Escrow Release Notice. The Escrow Agent shall effect such transfer by the close of business on the business day the Escrow Agent receives the applicable Escrow Release Notice; provided, however, if the Escrow Agent receives the applicable Escrow Release Notice after 2:00 p.m. Central Time, then the Escrow Agent shall effect such transfer by the close of business on the next succeeding business day
Appears in 2 contracts
Samples: Subscription Escrow Agreement (United Realty Trust Inc), Subscription Escrow Agreement (United Realty Trust Inc)
Post Escrow Break Period. From and after the Break Escrow Date until the Termination Date, the Escrow Agent, upon receipt of Escrow Release Notices, shall periodically transfer any portion of the Investor Funds to the Company or such other parties as set forth in the applicable Escrow Release Notice. The Escrow Agent shall effect such transfer by the close of business on the business day date the Escrow Agent receives the applicable Escrow Release Notice; provided, however, if the Escrow Agent receives the applicable Escrow Release Notice after 2:00 p.m. 2pm Central Time, then the Escrow Agent shall effect such transfer by the close of business on the next succeeding business day
Appears in 1 contract
Samples: Subscription Escrow Agreement (Preferred Apartment Communities Inc)
Post Escrow Break Period. From and after the Break Escrow Date until the Termination Date, the Escrow Agent, upon receipt of Escrow Release Notices, shall periodically transfer any portion of the Restricted State Investor Funds to the Company or such other parties as set forth in the applicable Escrow Release Notice. The Escrow Agent shall effect such transfer by the close of business on the business day the Escrow Agent receives the applicable Escrow Release Notice; provided, however, if the Escrow Agent receives the applicable Escrow Release Notice after 2:00 p.m. Central Time, then the Escrow Agent shall effect such transfer by the close of business on the next succeeding business day
Appears in 1 contract
Samples: Subscription Escrow Agreement (United Realty Trust Inc)
Post Escrow Break Period. From and after the Break Escrow Date until the Termination DateDate (the “Post Escrow Break Period”), the Escrow Agent, upon receipt of Escrow Release Notices, shall periodically transfer any portion of the Investor Funds to the Company or such other parties as set forth in the applicable Escrow Release Notice. The Escrow Agent shall effect such transfer by the close of business on the business day date the Escrow Agent receives the applicable Escrow Release Notice; provided, however, if the Escrow Agent receives the applicable Escrow Release Notice after 2:00 p.m. 2pm Central Time, then the Escrow Agent shall effect such transfer by the close of business on the next succeeding business day
Appears in 1 contract
Samples: Subscription Escrow Agreement (Preferred Apartment Communities Inc)