Common use of Term of Escrow Clause in Contracts

Term of Escrow. The “Termination Date” shall be the earlier of (i) the close of business on the one year anniversary of the date of this Escrow Agreement; (ii) the disbursement of all funds held in the REIT Escrow Accounts to the Company or to Investors pursuant to Section 3, Section 4 for Pennsylvania Investors and Section 5 for Tennessee Investors, and instruction from the Company to the Escrow Agent in writing, directing the termination each of the REIT Escrow Accounts; (iii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; or (iv) the date the Escrow Agent receives notice from the Securities and Exchange Commission or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days. After the Termination Date the Company shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “Termination Date” shall be the earlier of earliest of: (ia) the close of business on the one year anniversary of July 15, 2015; (b) the date of this Escrow Agreement; (ii) the disbursement of all funds Investment Funds held in the REIT Escrow Accounts Account are distributed to the Company or to Investors pursuant to Section 33 and for New York Investors, Section 4 for Pennsylvania Investors and Section 5 4, for Tennessee Investors, Section 5 and instruction from for Pennsylvania Investors, Section 6, and the Company to has informed the Escrow Agent in writing, directing writing to close the termination each of the REIT Escrow AccountsAccount; (iiic) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the SecuritiesCommon Shares pursuant to the Offering; or and (ivd) the date the Escrow Agent receives notice from the Securities and Exchange Commission SEC or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and that such stop or similar order has remained in effect for at least twenty (20) days. After the Termination Date Date, the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “Termination Date” shall be the earlier of earliest of: (i) the close of business on , 2014, the one year anniversary of the date of this Escrow Agreementthe Offering Document was initially declared effective by the SEC, if the Minimum Amount has not been obtained prior to such date; (ii) the disbursement of date on which all funds held in the REIT Escrow Accounts Account are distributed to the Company or to Investors pursuant to Section 33 and for Pennsylvania Investors, Section 4 for Pennsylvania Investors and Section 5 for Tennessee Investors, and instruction from the Company to has informed the Escrow Agent in writing, directing writing to close the termination each of the REIT Escrow AccountsAccount; (iii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; or and (iv) the date the Escrow Agent receives notice from the Securities and Exchange Commission SEC or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days. After the Termination Date Date, the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “Termination Date” shall be the earlier of (i) the close of business on the one year anniversary of the date of this Escrow Agreement; (ii) the disbursement of all funds held in the REIT Escrow Accounts Account and the Pennsylvania and Massachusetts Escrow Account are distributed to the Company or to Investors pursuant to Section 3, 3 and Section 4 for Pennsylvania Investors and Section 5 for Tennessee Investors, Massachusetts Investors and instruction from the Company to has informed the Escrow Agent in writing, directing writing to close the termination each of Escrow Account and the REIT Pennsylvania and Massachusetts Escrow AccountsAccount; (iii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; or (iv) the date the Escrow Agent receives notice from the Securities and Exchange Commission or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days. After the Termination Date the Company shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “"Termination Date” " shall be the earlier of earliest of: (i) the close of business on the one year anniversary of the date of this Escrow Agreement; (ii) the disbursement of all funds held in the REIT ARC NYRR Escrow Accounts are distributed to the Company or to Investors pursuant to Section 3, Section 4 for Pennsylvania Investors and Investors, Section 5 4, or, for Tennessee Investors, Section 5, and instruction from the Company to has informed the Escrow Agent in writing, directing the termination writing to close each of the REIT ARC NYRR Escrow Accounts; (iii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; or and (iv) the date the Escrow Agent receives notice from the Securities and Exchange Commission or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days. After the Termination Date the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “"Termination Date” " shall be the earlier of earliest of: (i) the close of business on the one year anniversary of the date of this Escrow Agreement; (ii) the disbursement of all funds held in the REIT ARC NYRR Escrow Accounts are distributed to the Company or to Investors pursuant to Section 3, Section 4 or, for Pennsylvania Investors and Section 5 for Tennessee Investors, Section 4, and instruction from the Company to has informed the Escrow Agent in writing, directing the termination writing to close each of the REIT ARC NYRR Escrow Accounts; (iii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; or and (iv) the date the Escrow Agent receives notice from the Securities and Exchange Commission or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days. After the Termination Date the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “Termination Date” shall be the earlier of earliest of: (ia) the close of business on the one year anniversary of [_____], 2015; (b) the date of this Escrow Agreement; (ii) the disbursement of all funds Investment Funds held in the REIT Escrow Accounts Account are distributed to the Company or to Investors pursuant to Section 33 and for New York Investors, Section 4 for Pennsylvania Investors and Section 5 4, for Tennessee Investors, Section 5 and instruction from for Pennsylvania Investors, Section 6, and the Company to has informed the Escrow Agent in writing, directing writing to close the termination each of the REIT Escrow AccountsAccount; (iiic) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the SecuritiesCommon Shares pursuant to the Offering; or and (ivd) the date the Escrow Agent receives notice from the Securities and Exchange Commission SEC or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and that such stop or similar order has remained in effect for at least twenty (20) days. After the Termination Date Date, the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “Termination Date” shall be the earlier of earliest of: (ia) the close of business on the one year anniversary of [ ], 2015; (b) the date of this Escrow Agreement; (ii) the disbursement of all funds Investment Funds held in the REIT Escrow Accounts Account are distributed to the Company or to Investors pursuant to Section 33 and for New York Investors, Section 4 for Pennsylvania Investors and Section 5 4, for Tennessee Investors, Section 5 and instruction from for Pennsylvania Investors, Section 6, and the Company to has informed the Escrow Agent in writing, directing writing to close the termination each of the REIT Escrow AccountsAccount; (iiic) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the SecuritiesCommon Shares pursuant to the Offering; or and (ivd) the date the Escrow Agent receives notice from the Securities and Exchange Commission SEC or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and that such stop or similar order has remained in effect for at least twenty (20) days. After the Termination Date Date, the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “Termination Date” shall be the earlier of earliest of: (ia) the close of business on the one year anniversary of [ ], 2015; (b) the date of this Escrow Agreement; (ii) the disbursement of all funds Investor Funds held in the REIT Escrow Accounts Account are distributed to the Company or to Investors pursuant to Section 33 and for New York Investors, Section 4 for Pennsylvania Investors and Section 5 4, for Tennessee Investors, Section 5 and instruction from for Pennsylvania Investors, Section 6, and the Company to has informed the Escrow Agent in writing, directing writing to close the termination each of the REIT Escrow AccountsAccount; (iiic) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the SecuritiesCommon Shares pursuant to the Offering; or and (ivd) the date the Escrow Agent receives notice from the Securities and Exchange Commission SEC or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and that such stop or similar order has remained in effect for at least twenty (20) days. After the Termination Date Date, the Company and its agents shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.

Term of Escrow. The “"Termination Date” " shall be the earlier of (i) the close of business on the one year anniversary of the date of this Escrow Agreement; (ii) the disbursement of all funds held in the REIT ARC NYRR Escrow Accounts are distributed to the Company or to Investors pursuant to Section 3, Section 4 for Pennsylvania Investors and Massachusetts Investors and Section 5 for Tennessee Investors, and instruction from the Company to has informed the Escrow Agent in writing, directing the termination writing to close each of the REIT ARC NYRR Escrow Accounts; (iii) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; or (iv) the date the Escrow Agent receives notice from the Securities and Exchange Commission or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least twenty (20) days. After the Termination Date the Company shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective Investors.