Common use of Termination of the Public Offering in Pennsylvania Clause in Contracts

Termination of the Public Offering in Pennsylvania. In the event that the Pennsylvania Minimum Subscription has not been satisfied at the close of business on the date exactly 120 days from the date of receipt of the first instruments of payment from an investor in the Commonwealth of Pennsylvania (the "INITIAL TERMINATION DATE"), which date will be communicated to Escrow Agent in writing as soon as possible after determination, Company will, within 10 days of the end of the Initial Termination Date, notify the investors whose funds are held in the Pennsylvania Escrow Account of their right to receive a refund, without interest. If the Pennsylvania investor requests a refund within 10 days of receiving the notice, Company shall so notify Escrow Agent, and Escrow Agent shall promptly return by check the funds deposited in the Pennsylvania Escrow Account, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each subscriber at the address given to Company, but in any event within 15 calendar days from the date Company received the refund request, as notified by Company to Escrow Agent. Amounts held in the Pennsylvania Escrow Account from Pennsylvania investors not requesting a refund will continue to be held for subsequent 120-day periods (each a "SUBSEQUENT ESCROW PERIOD") until the Pennsylvania Minimum Subscription is received; provided that on the last day of each Subsequent Escrow Period (each a "SUBSEQUENT TERMINATION DATE"), Company will again notify investors of their right to receive refunds with interest from the date after the Initial Termination Date subject to the same time period enumerated above. Promptly following each Subsequent Termination Date, and on the next business day after each Subsequent Termination Date or as soon as possible thereafter, Escrow Agent shall return promptly by check the funds deposited in the Pennsylvania Escrow Account, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each subscriber so requesting a refund at the address given to Company.

Termination of the Public Offering in Pennsylvania. In the event that the Pennsylvania Minimum Subscription has not been satisfied at the close of business on the date exactly 120 days from the date of receipt of the first instruments of payment from an investor in the Commonwealth of Pennsylvania (the "INITIAL TERMINATION DATE"), which date will be communicated to Escrow Agent in writing as soon as possible after determination, Company will, within 10 days of the end of the Initial Termination Date, notify the investors whose funds are held in the Pennsylvania Escrow Account of their right to receive a refund, with interest and without interestdeductions for expenses. If the Pennsylvania investor requests a refund within 10 days of receiving the notice, Company shall so notify Escrow Agent, and Escrow Agent shall promptly return by check the funds deposited in the Pennsylvania Escrow AccountAccount and any interest, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each subscriber at the address given to Company, but in any event within 15 calendar days from the date Company received the refund request, as notified by Company to Escrow Agent. Amounts held in the Pennsylvania Escrow Account from Pennsylvania investors not requesting a refund will continue to be held for subsequent 120-day periods (each a "SUBSEQUENT ESCROW PERIOD") until the Pennsylvania Minimum Subscription is received; provided that on the last day of each Subsequent Escrow Period (each a "SUBSEQUENT TERMINATION DATE"), Company will again notify investors of their right to receive refunds with interest and without deductions for expenses from the date after the Initial Termination Date subject to the same time period enumerated above. Promptly following each Subsequent Termination Date, and on the next business day after each Subsequent Termination Date or as soon as possible thereafter, Escrow Agent shall return promptly by check the funds deposited in the Pennsylvania Escrow AccountAccount and any interest, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each subscriber so requesting a refund at the address given to Company.

Termination of the Public Offering in Pennsylvania. In the event that the Pennsylvania Minimum Subscription has not been satisfied at the close of business on the date exactly 120 days from the date of receipt of the first instruments of payment from an investor in the Commonwealth of Pennsylvania (the "INITIAL TERMINATION DATE"“Initial Termination Date”), which date will be communicated to Escrow Agent in writing as soon as possible after determination, Company will, within 10 days of the end of the Initial Termination Date, notify the investors whose funds are held in the Pennsylvania Escrow Account of their right to receive a refund, with interest and without interestdeductions for expenses. If the Pennsylvania investor requests a refund within 10 days of receiving the notice, Company shall so notify Escrow Agent, and Escrow Agent shall promptly return by check the funds deposited in the Pennsylvania Escrow AccountAccount and any interest, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each subscriber at the address given to Company, but in any event within 15 calendar days from the date Company received the refund request, as notified by Company to Escrow Agent. Amounts held in the Pennsylvania Escrow Account from Pennsylvania investors not requesting a refund will continue to be held for subsequent 120-day periods (each a "SUBSEQUENT ESCROW PERIOD"“Subsequent Escrow Period”) until the Pennsylvania Minimum Subscription is received; provided that on the last day of each Subsequent Escrow Period (each a "SUBSEQUENT TERMINATION DATE"“Subsequent Termination Date”), Company will again notify investors of their right to receive refunds with interest and without deductions for expenses from the date after the Initial Termination Date subject to the same time period enumerated above. Promptly following each Subsequent Termination Date, and on the next business day after each Subsequent Termination Date or as soon as possible thereafter, Escrow Agent shall return promptly by check the funds deposited in the Pennsylvania Escrow AccountAccount and any interest, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each subscriber so requesting a refund at the address given to Company.