Common use of RELEASE OF PROCEEDS OF OFFERING Clause in Contracts

RELEASE OF PROCEEDS OF OFFERING. If 50 Units have been sold prior to the Closing Date, the proceeds of the offering will be released on the Closing Date and a subscriber shall be deemed to have been shall be deemed to have been admitted into the Partnership.

RELEASE OF PROCEEDS OF OFFERING. If 50 25 Units have been sold prior to the Closing Date, the proceeds of the offering Offering will be released on the Closing Date and a subscriber shall be deemed to have been shall be deemed to have been admitted into the PartnershipPartnership as a Limited Partner on that date.

RELEASE OF PROCEEDS OF OFFERING. If 50 480 Units have been sold prior to the Closing Date, the proceeds of the offering Offering will be released to the Partnership on the Closing Date date such 480 Units have been sold and a subscriber shall be deemed to have been shall be deemed to have been admitted into the PartnershipPartnership on such date.

RELEASE OF PROCEEDS OF OFFERING. If 50 Units have not been sold by the Closing Date, the offering will terminate and funds received for the purchase of Units and any interest earned on those funds will be returned to subscribers. If 50 Units have been sold prior to the Closing Date, the proceeds of the offering will be released to the Partnership on the Closing Date and a subscriber shall be deemed to date such 50 Units have been sold and subscribers shall be deemed to have been admitted into to the PartnershipPartnership on such date.