Common use of Rejection of Any Subscription or Termination of the Offering Clause in Contracts

Rejection of Any Subscription or Termination of the Offering. No later than fifteen (15) business days after receipt by Escrow Agent of written notice (i) from Issuer that it intends to reject a Subscriber’s subscription, (ii) from Issuer that there will be no closing of the sale of Shares to Subscribers, or (iii) from the SEC or any other federal or state regulatory authority that a stop order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days, Escrow Agent shall pay to the applicable Subscriber(s), by certified or bank check and by first class mail, the amount of the Cash Investment paid by each Subscriber, and shall pay as soon as practicable to the applicable Subscriber(s), by certified or bank check and by first class mail, each Subscriber’s share of income earned on the Escrow Funds, each such share to be calculated on a Pro Rata Basis.

Rejection of Any Subscription or Termination of the Offering. No later than fifteen (15) business days after receipt by Escrow Agent of written notice (i) from Issuer that it Issuer intends to reject a Subscriber’s 's subscription, (ii) from Issuer that there will be no closing of the sale of Shares to Subscribers, or (iii) from the SEC or any other federal or state regulatory authority that a stop order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days, Escrow Agent shall pay to the applicable Subscriber(s), by certified or bank check and by first class mail, the amount of the Cash Investment paid by each Subscriber, and shall pay as soon as practicable to the applicable Subscriber(s), by certified or bank check and by first class mail, each Subscriber’s 's share of income earned on the Escrow Funds, each such share to be calculated on a Pro Rata Basis.

Rejection of Any Subscription or Termination of the Offering. No later than fifteen (15) business days after receipt by Escrow Agent of written notice (i) from Issuer that it intends to reject a Subscriber’s 's subscription, (ii) from Issuer that there will be no closing of the sale of Shares to Subscribers, or (iii) from the SEC or any other federal or state regulatory authority that a stop order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days, Escrow Agent shall pay to the applicable Subscriber(s), by certified or bank check and by first class mail, the amount of the Cash Investment paid by each Subscriber, and shall pay as soon as practicable to the applicable Subscriber(s), by certified or bank check and by first class mail, each Subscriber’s 's share of income earned on the Escrow Funds, each such share to be calculated on a Pro Rata Basis.