Common use of SUBSCRIPTION ESCROW Clause in Contracts

SUBSCRIPTION ESCROW. Until the minimum subscription amount (as specified in the Prospectus) is reached, Purchasers' checks shall be made payable to the Company's escrow agent, River Oaks Trust Company (the "Escrow Agent"), and shall be transmitted directly to the Escrow Agent by noon of the business day following their receipt by the Broker-Dealer. After reaching the minimum subscription amount, Purchaser monies thereafter received shall be transmitted together with the Subscription Agreement directly to the Company. The Company shall be responsible for depositing Purchaser funds received by it by noon of the business day following its receipt thereof.

SUBSCRIPTION ESCROW. Until the minimum subscription amount (as specified in the Prospectus) is reached, Purchasers' checks shall be made payable to the Company's escrow agent, River Oaks Trust Company Xxxxxxx Bank and Trust, N.A. (the "Escrow Agent"), and shall be transmitted directly to the Escrow Agent by noon of the business day following their receipt by the Broker-Dealer. After reaching the minimum subscription amount, Purchaser monies thereafter received shall be transmitted together with the Subscription Agreement directly to the Company. The Company shall be responsible for depositing Purchaser funds received by it by noon of the business day following its receipt thereof.