Common use of Receipt of Pennsylvania Minimum Subscription Payments Clause in Contracts

Receipt of Pennsylvania Minimum Subscription Payments. Subject to the provisions of Section 2 and Section 4(a), (b) and (c) hereof, Escrow Agent shall hold the Subscription Payments deposited with Escrow Agent in the Pennsylvania Escrow Account under the terms of this Escrow Agreement and not rejected or refunded pursuant to the terms hereof until such date ("PENNSYLVANIA MINIMUM SUBSCRIPTION SATISFACTION DATE") as Company and Dealer Manager shall have delivered to the Escrow Agent a joint written instruction notifying Escrow Agent that the Pennsylvania Minimum Subscription has been received and accepted (the "PENNSYLVANIA MINIMUM SUBSCRIPTION NOTICE AND DISBURSEMENT INSTRUCTION"). Within two (2) business days of the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, Escrow Agent shall deliver all Subscription Payments in the Pennsylvania Escrow Account and all earnings thereon to Company in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. If after the Escrow Agent has received the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, the Dealer Manager shall send the Escrow Agent Subscription Payments made payable to the Escrow Agent, the Escrow Agent will deposit the Subscription Payments into the Escrow Account, as described herein and, within twenty four (24) hours of such deposit, deliver the Subscription Payments in the Escrow Account in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. In the event that Escrow Agent receives instruments of payment after the Pennsylvania Minimum Subscription Satisfaction Date, Escrow Agent is hereby authorized to deposit such instruments of payment to any deposit account as directed by Company and Dealer Manager. The application of such funds into a deposit account directed by Company and Dealer Manager shall be a full acquittance to the Escrow Agent and Escrow Agent shall not be responsible for the application of such funds.

Receipt of Pennsylvania Minimum Subscription Payments. Subject to the provisions of Section 2 and Section 4(a), (b) and (c) hereof, Escrow Agent shall hold the Subscription Payments deposited with Escrow Agent in the Pennsylvania Escrow Account under the terms of this Escrow Agreement and not rejected or refunded pursuant to the terms hereof until such date ("PENNSYLVANIA MINIMUM SUBSCRIPTION SATISFACTION DATE"“Pennsylvania Minimum Subscription Satisfaction Date”) as Company and Dealer Manager shall have delivered to the Escrow Agent a joint written instruction notifying Escrow Agent that the Pennsylvania Minimum Subscription has been received and accepted (the "PENNSYLVANIA MINIMUM SUBSCRIPTION NOTICE AND DISBURSEMENT INSTRUCTION"“Pennsylvania Minimum Subscription Notice and Disbursement Instruction”). Within two (2) business days of the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, Escrow Agent shall deliver all Subscription Payments in the Pennsylvania Escrow Account and all earnings thereon to Company in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. If after the Escrow Agent has received the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, the Dealer Manager shall send the Escrow Agent Subscription Payments made payable to the Escrow Agent, the Escrow Agent will deposit the Subscription Payments into the Escrow Account, as described herein and, within twenty four (24) hours of such deposit, deliver the Subscription Payments in the Escrow Account in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. In the event that Escrow Agent receives instruments of payment after the Pennsylvania Minimum Subscription Satisfaction Date, Escrow Agent is hereby authorized to deposit such instruments of payment to any deposit account as directed by Company and Dealer Manager. The application of such funds into a deposit account directed by Company and Dealer Manager shall be a full acquittance to the Escrow Agent and Escrow Agent shall not be responsible for the application of such funds.

Receipt of Pennsylvania Minimum Subscription Payments. Subject to the provisions of Section 2 and Section 4(a), (b) and (c) hereof, Escrow Agent shall hold the Subscription Payments deposited with Escrow Agent in the Pennsylvania Escrow Account under the terms of this Escrow Agreement and not rejected or refunded pursuant to the terms hereof until such date ("PENNSYLVANIA MINIMUM SUBSCRIPTION SATISFACTION DATE") as Company and Dealer Manager shall have delivered to the Escrow Agent a joint written instruction notifying Escrow Agent that the Pennsylvania Minimum Subscription has been received and accepted (the "PENNSYLVANIA MINIMUM SUBSCRIPTION NOTICE AND DISBURSEMENT INSTRUCTION"). Within two (2) business days of the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, Escrow Agent shall deliver all Subscription Payments in the Pennsylvania Escrow Account and all earnings thereon to Company in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. If after the Escrow Agent has received the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, the Dealer Manager shall send the Escrow Agent Subscription Payments made payable to the Escrow AgentAgent after the Escrow Agent has received the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, the Escrow Agent will deposit the Subscription Payments into the Escrow Account, as described herein and, within twenty four (24) hours of such deposit, deliver the Subscription Payments in the Escrow Account in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. In the event that Escrow Agent receives instruments of payment after the Pennsylvania Minimum Subscription Satisfaction Date, Escrow Agent is hereby authorized to deposit such instruments of payment to any deposit account as directed by Company and Dealer Manager. The application of such funds into a deposit account directed by Company and Dealer Manager shall be a full acquittance to the Escrow Agent and Escrow Agent shall not be responsible for the application of such funds.

Receipt of Pennsylvania Minimum Subscription Payments. Subject to the provisions of Section 2 and Section 4(a), (b) and (c) hereof, Escrow Agent shall hold the Subscription Payments deposited with Escrow Agent in the Pennsylvania Escrow Account under the terms of this Escrow Agreement and not rejected or refunded pursuant to the terms hereof until such date ("PENNSYLVANIA MINIMUM SUBSCRIPTION SATISFACTION DATE") as Company and Dealer Manager shall have delivered to the Escrow Agent a joint written instruction notifying Escrow Agent that the Pennsylvania Minimum Subscription has been received and accepted (the "PENNSYLVANIA MINIMUM SUBSCRIPTION NOTICE AND DISBURSEMENT INSTRUCTION"). Within two (2) business days of the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, Escrow Agent shall deliver all Subscription Payments in the Pennsylvania Escrow Account and all earnings thereon to Company in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. If after the Escrow Agent has received the Pennsylvania Minimum Subscription Notice and Disbursement Instruction, the Dealer Manager shall send the Escrow Agent Subscription Payments made payable to the Escrow Agent, the Escrow Agent will deposit the Subscription Payments into the Escrow Account, as described herein and, within twenty four (24) hours of such deposit, deliver the Subscription Payments in the Escrow Account in the manner, amounts and to the bank accounts set forth in the Pennsylvania Minimum Subscription Notice and Disbursement Instruction. In the event that Escrow Agent receives instruments of payment after the Pennsylvania Minimum Subscription Satisfaction Date, Escrow Agent is hereby authorized to deposit such instruments of payment to any deposit account as directed by Company and Dealer Manager. The application of such funds into a deposit account directed by Company and Dealer Manager shall be a full acquittance to the Escrow Agent and Escrow Agent shall not be responsible for the application of such funds.