Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company and Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX hereto); (b) The Refund Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, Selling Shareholders and the Registrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicable, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs in the prescribed form (as set out in Schedule II hereto); (c) On receipt of the intimation of failure of the Offer from the BRLMs as per Clause 3.
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Samples: Cash Escrow and Sponsor Bank Agreement, Cash Escrow and Sponsor Bank Agreement
Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX X hereto);
(b) The Refund Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, the Selling Shareholders and the Registrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicableAccounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs in the prescribed form (as set out in Schedule II hereto);
(c) On receipt of the intimation of failure of the Offer from the BRLMs as per Clause 3.
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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company and Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX X hereto);
; (b) The Refund Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, Selling Shareholders and the Registrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicable, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs in the prescribed form (as set out in Schedule II hereto);
; (c) On receipt of the intimation of failure of the Offer from the BRLMs as per Clause 3.
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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company and Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX X hereto);
(b) The Refund Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, Selling Shareholders and the Registrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicable, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs in the prescribed form (as set out in Schedule II hereto);
(c) On receipt of the intimation of failure of the Offer from the BRLMs as per Clause 3.
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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and Promoter Selling Shareholders Shareholder forthwith but not later than 1 (one) one Working Day from the date of receipt of such notice, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX X hereto);
(b) The Refund Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, Promoter Selling Shareholders Shareholder and the Registrar, forthwith but not later than 1 (one) one Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicableAccounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs in the prescribed form (as set out in Schedule II hereto);
(c) On receipt of the intimation of failure of the Offer from the BRLMs as per Clause 3.
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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX X hereto);
; (b) The Refund Bank shall, upon receipt of an intimation from the BRLMs in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, the Selling Shareholders and the Registrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicableAccounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs in the prescribed form (as set out in Schedule II hereto);
; (c) On receipt of the intimation of failure of the Offer from the BRLMs as per Clause 3.
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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the BRLMs BRLM in writing in accordance with Clause 3.2.3 Clauses 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such noticeintimation, ensure the transfer of any Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX IV A hereto);
; (b) The Refund Bank shall, upon receipt of an intimation from the BRLMs BRLM in writing in accordance with Clause 3.2.3 or 3.2.2 of this Agreement, after notice to the Company, Selling Shareholders and the Registrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts or the Public Offer Account, as applicableAccounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the BRLMs BRLM in the prescribed form (as set out in Schedule II hereto);
; (c) On receipt of the intimation of failure of the Offer Issue from the BRLMs BRLM as per Clause 3.
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