Common use of Term of Escrow Clause in Contracts

Term of Escrow. The "Termination Date" shall be the earliest of: (a) the close of business on ___________, or ___________ if the Offering is extended to such date by the Company and the Company provides prior written notice of such extension to the Escrow Agent; (b) the date the Escrow Agent receives written notice from the Company that all the Securities offered pursuant to the Offering Document are sold, (c) all funds held in the Escrow Account are distributed to the Company or to Investors pursuant to Section 3 and the Company has informed the Escrow Agent in writing to close the Escrow Account; (d) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; and (e) 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 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. In the event the Escrow Agent holds funds in the Escrow Account upon the Termination Date, such funds shall be returned directly to the Investors. The Company shall cooperate with the Escrow Agent in providing any information or documentation necessary to return funds to the Investors.

Term of Escrow. The "Termination Date" shall be the earliest of: (a) the close of business on ___________September 30, 2017, or ___________ March 31, 2018 if the Offering is extended to such date by the Company and the Company provides prior written notice of such extension to the Escrow Agent; (b) the date the Escrow Agent receives written notice from the Company that all the Securities offered pursuant to the Offering Document are sold, (c) all funds held in the Escrow Account are distributed to the Company or to Investors pursuant to Section 3 and the Company has informed the Escrow Agent in writing to close the Escrow Account; (d) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; and (e) 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 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. In the event the Escrow Agent holds funds in the Escrow Account upon the Termination Date, such funds shall be returned directly to the Investors. The Company shall cooperate with the Escrow Agent in providing any information or documentation necessary to return funds to the Investors.

Term of Escrow. The "“Termination Date" ” shall be the earliest of: (a) the close of business on ___________September 30, 2017, or ___________ March 31, 2018 if the Offering is extended to such date by the Company and the Company provides prior written notice of such extension to the Escrow Agent; (b) the date the Escrow Agent receives written notice from the Company that all the Securities offered pursuant to the Offering Document are sold, (c) all funds held in the Escrow Account are distributed to the Company or to Investors pursuant to Section 3 and the Company has informed the Escrow Agent in writing to close the Escrow Account; (d) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; and (e) 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 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. In the event the Escrow Agent holds funds in the Escrow Account upon the Termination Date, such funds shall be returned directly to the Investors. The Company shall cooperate with the Escrow Agent in providing any information or documentation necessary to return funds to the Investors.

Term of Escrow. The "Termination Date" shall be the earliest of: (a) the close of business on ___________June 30, 2017, or ___________ December 31, 2017 if the Offering is extended to such date by the Company and the Company provides prior written notice of such extension to the Escrow Agent; (b) the date the Escrow Agent receives written notice from the Company that all the Securities offered pursuant to the Offering Document are sold, (c) all funds held in the Escrow Account are distributed to the Company or to Investors pursuant to Section 3 and the Company has informed the Escrow Agent in writing to close the Escrow Account; (d) the date the Escrow Agent receives written notice from the Company that it is abandoning the sale of the Securities; and (e) 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 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. In the event the Escrow Agent holds funds in the Escrow Account upon the Termination Date, such funds shall be returned directly to the Investors. The Company shall cooperate with the Escrow Agent in providing any information or documentation necessary to return funds to the Investors.