Common use of Release of Escrowed Funds to Subscribers Clause in Contracts

Release of Escrowed Funds to Subscribers. Immediately after receiving a certification of the President or Chairman of the Board of Directors of the Company to the effect that the Company has either (i) terminated the Offering in whole or in part; or (ii) rejected, revoked or canceled in whole or in part any Subscription; or if the Condition shall not have been satisfied prior to October 15, 2000 then the Escrow Agent shall return to the Subscriber whose Subscription shall have been rejected, revoked or canceled, in whole or in part, as a result of termination of the Offering, the failure of satisfaction of the Condition prior to October 15, 2000 or otherwise, Escrowed Funds representing such Subscriber's rejected, revoked or canceled payments, or all Subscribers' payments in the event of termination of the Offering as a whole or the failure of satisfaction of the Condition, without such Subscriber's share of any interest or other earnings accrued on such portion of the

Release of Escrowed Funds to Subscribers. Immediately after receiving a certification of the President or Chairman of the Board of Directors of the Company to the effect that the Company has either (i) terminated the Offering in whole or in part; or (ii) rejected, revoked or canceled in whole or in part any Subscription; or if the Condition shall not have been satisfied prior to October January 15, 2000 2001 then the Escrow Agent shall return to the Subscriber whose Subscription shall have been rejected, revoked or canceled, in whole or in part, as a result of termination of the Offering, the failure of satisfaction of the Condition prior to October January 15, 2000 2001 or otherwise, Escrowed Funds representing such Subscriber's rejected, revoked or canceled payments, or all Subscribers' payments in the event of termination of the Offering as a whole or the failure of satisfaction of the Condition, without such Subscriber's share of any interest or other earnings accrued on such portion of thethe Escrowed Funds.

Release of Escrowed Funds to Subscribers. Immediately after receiving a certification of the President or Chairman of the Board of Directors of the Company to the effect that the Company has either (i) terminated the Offering in whole or in part; or (ii) rejected, revoked or canceled in whole or in part any Subscription; or if the Condition shall not have been satisfied prior to October 15December 31, 2000 2001 then the Escrow Agent shall return to the Subscriber whose Subscription shall have been rejected, revoked or canceled, in whole or in part, as a result of termination of the Offering, the failure of satisfaction of the Condition prior to October 15December 31, 2000 2001 or otherwise, Escrowed Funds representing such Subscriber's rejected, revoked or canceled payments, or all Subscribers' payments in the event of termination of the Offering as a whole or the failure of satisfaction of the Condition, without such Subscriber's share of any interest or other earnings accrued on such portion of thethe Escrowed Funds.

Release of Escrowed Funds to Subscribers. Immediately after receiving a certification of the President or Chairman of the Board of Directors of the Company to the effect that the Company has either (i) terminated the Offering in whole or in part; or (ii) rejected, revoked or canceled in whole or in part any Subscription; or if the Condition shall not have been satisfied prior to October 15September 1, 2000 2002 then the Escrow Agent shall return to the Subscriber whose Subscription shall have been rejected, revoked or canceled, in whole or in part, as a result of termination of the Offering, the failure of satisfaction of the Condition prior to October 15September 1, 2000 2002 or otherwise, Escrowed Funds representing such Subscriber's rejected, revoked or canceled payments, or all Subscribers' payments in the event of termination of the Offering as a whole or the failure of satisfaction of the Condition, without such Subscriber's share of any interest or other earnings accrued on such portion of thethe Escrowed Funds.