Common use of CANCELLATION BY THE COMPANY Clause in Contracts

CANCELLATION BY THE COMPANY. The Company may reject or cancel any subscription in whole or in part. If the Subscription Price for such rejected or cancelled subscription has been delivered to Escrow Bank, the Company will inform Escrow Bank of the rejection or cancellation, and Escrow Bank upon receiving such notice will refund to the subscriber the Subscription Price. If the Company rejects or cancels any subscription for which the Escrow Bank has not yet collected funds but has submitted the subscriber’s check for collection, the Escrow Bank shall promptly issue a check in the amount of the subscriber’s check to the rejected subscriber after the Escrow Bank has cleared such funds. If the Escrow Bank has not yet submitted a rejected subscriber’s check for collection, the Escrow Bank shall promptly remit the subscriber’s check directly to the subscriber.

CANCELLATION BY THE COMPANY. The Company may reject or cancel any subscription in whole or in part. If the Subscription Price for such rejected or cancelled subscription has been delivered to Escrow Bank, the Company will promptly inform Escrow Bank of the rejection or cancellation, and Escrow Bank upon receiving such notice will refund to the subscriber the Subscription Price, without interest and without deduction. If the Company rejects or cancels any subscription for which the Escrow Bank has not yet collected funds but has submitted the subscriber’s 's check for collection, the Escrow Bank shall promptly issue a check in the amount of the subscriber’s 's check to the rejected subscriber after the Escrow Bank has cleared such funds. If the Escrow Bank has not yet submitted a rejected subscriber’s 's check for collection, the Escrow Bank shall promptly remit the subscriber’s 's check directly to the subscriber.