Common use of Terminated Listing Clause in Contracts

Terminated Listing. If, at any time, either (i) the Intermediary notifies the Deposit Account Agent in writing that the Intermediary has exercised its right to terminate the Issuer’s Offering and not proceed with the Closing of the Offering or (ii) the Deposit Account Agent receives a written instruction stating that the Offering has been terminated and the Parties will not proceed with a Closing, the Deposit Account Agent shall return all Cleared Funds to Subscribers according to the amounts and return payment instructions contained in the Offering Report promptly (noon the following business day) upon such written notification without deduction, penalty, or expense to Subscriber.

Terminated Listing. If, at any time, either (i) the Intermediary notifies the Deposit Account Agent Agent, with a copy to the Issuer, in writing that the Intermediary has exercised its right to terminate the Issuer’s Offering and not proceed with the Closing of the Offering and has so notified the Issuer in writing or (ii) the Deposit Account Agent receives a written instruction from the Issuer stating that the Offering has been terminated and the Parties will not proceed with a Closing, the Deposit Account Agent shall return all Cleared Funds to Subscribers according to the amounts and return payment instructions contained in the Offering Report promptly (noon the following business day) upon such written notification without deduction, penalty, or expense to Subscriber.