Common use of Release of Escrow Fund upon Initial Closing Clause in Contracts

Release of Escrow Fund upon Initial Closing. Prior to the Initial Closing, the Company and the Depositor shall deliver to the Escrow Agent joint written instructions executed by a duly authorized executive officer of each of the Company and the Depositor (“Instructions”), which Instructions shall provide the day designated as the Initial Closing date, and shall specify the time and payment instructions, including the address and tax identification number of each payee, of the Escrow Fund, including with respect to placement fees that may be disbursed to the Depositor or to any other placement agent or selected dealer with respect to the Offering. Further, the Instructions shall include an acknowledgement and agreement from the Company and the Depositor that as of the Initial Closing date, the Initial Closing Conditions have been or will be fully satisfied. The Escrow Agent shall, at the time and in accordance with the payment instructions specified in the Instructions, deliver the Escrow Fund (without interest).

Release of Escrow Fund upon Initial Closing. Prior to the Initial Closing, the Company and the Depositor shall deliver to the Escrow Agent joint written instructions executed by a duly authorized executive officer of each of the Company and the Depositor (“Instructions”), which Instructions shall provide the day designated as the Initial Closing date, and shall specify the time and payment instructions, including the address and tax identification number of each payee, of the Escrow Fund, including with respect to placement fees that may be disbursed to the Depositor or to any other placement agent or selected dealer with respect to the Offering. Further, the Instructions shall include an acknowledgement and agreement from the Company and the Depositor that as of the Initial Closing date, the Initial Closing Conditions have been or will be fully satisfied. The Escrow Agent shall, at the time and in accordance with the payment instructions specified in the Instructions, deliver the Escrow Fund (without interest).

Release of Escrow Fund upon Initial Closing. Prior to the Initial Closing, the Company and the Depositor Depositors shall deliver to the Escrow Agent joint written instructions executed by a duly authorized executive officer of each of the Company and the Depositor Depositors (“"Instructions”"), which Instructions shall provide the day designated as the Initial Closing date, and shall specify the time and payment instructions, including the address and tax identification number of each payee, of the Escrow Fund, including with respect to placement fees that may be disbursed to the Depositor Depositors or to any other placement agent or selected dealer with respect to the Offering. Further, the Instructions shall include an acknowledgement and agreement from the Company and the Depositor Depositors that as of the Initial Closing date, the Initial Closing Conditions have been or will be fully satisfied. The Escrow Agent shall, at the time and in accordance with the payment instructions specified in the Instructions, deliver the Escrow Fund (without interest).

Release of Escrow Fund upon Initial Closing. Prior to the Initial Closing, the Company and the Depositor Depositors shall deliver to the Escrow Agent joint written instructions executed by a duly authorized executive officer of each of the Company and the Depositor Depositors (“Instructions”), which Instructions shall provide the day designated as the Initial Closing date, and shall specify the time and payment instructions, including the address and tax identification number of each payee, of the Escrow Fund, including with respect to placement fees that may be disbursed to the each Depositor or to any other placement agent or selected dealer with respect to the Offering. Further, the Instructions shall include an acknowledgement and agreement from the Company and the Depositor Depositors that as of the Initial Closing date, the Initial Closing Conditions have been or will be fully satisfied. The Escrow Agent shall, at the time and in accordance with the payment instructions specified in the Instructions, deliver the Escrow Fund (without interest).

Release of Escrow Fund upon Initial Closing. Prior to the Initial Closing, the Company and the Depositor Depositors shall deliver to the Escrow Agent joint written instructions executed by a duly authorized executive officer of each of the Company and the Depositor Depositors (“Instructions”), which Instructions shall provide the day designated as the Initial Closing date, and shall specify the time and payment instructions, including the address and tax identification number of each payee, of the Escrow Fund, including with respect to placement fees that may be disbursed to the Depositor Depositors or to any other placement agent or selected dealer with respect to the Offering. Further, the Instructions shall include an acknowledgement and agreement from the Company and the Depositor Depositors that as of the Initial Closing date, the Initial Closing Conditions have been or will be fully satisfied. The Escrow Agent shall, at the time and in accordance with the payment instructions specified in the Instructions, deliver the Escrow Fund (without interest).