Common use of Deposit Account Clause in Contracts

Deposit Account. Once subscription funds from Persons unaffiliated with the Company or the Advisor in the Escrow Account aggregate $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and Xxxxx Fargo Bank, National Association that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and Xxxxx Fargo Bank, National Association that funds in the Deposit Account can be released upon order of the Company.

Deposit Account. Once subscription funds from Persons unaffiliated with standing to the Company or the Advisor in credit of the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and Xxxxx Fargo Bank, National Association that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and Xxxxx Fargo Bank, National Association that funds in the Deposit Account can be released upon order of the Company.

Deposit Account. Once subscription funds from Persons unaffiliated with the Company or the Advisor in the Escrow Account aggregate $2,000,000 in respect of Primary Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and Xxxxx Wxxxx Fargo Bank, National Association that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and Xxxxx Wxxxx Fargo Bank, National Association that funds in the Deposit Account can be released upon order of the Company.

Deposit Account. Once subscription funds from Persons unaffiliated with the Company or the Advisor in the Escrow Account aggregate $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and Xxxxx Wxxxx Fargo Bank, National Association that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and Xxxxx Wxxxx Fargo Bank, National Association that funds in the Deposit Account can be released upon order of the Company.

Deposit Account. Once subscription funds from Persons unaffiliated with standing to the Company or the Advisor in credit of the Escrow Account aggregate a minimum of $2,000,000 in respect of Shares of the Company, subject to any continuing escrow obligations imposed by certain states as described in the Prospectus, the Company will deposit all subsequent subscription funds in the Deposit Account. At all times until the Termination Date, the Deposit Account shall be subject to the Control Agreement that will provide, among other things, that no funds shall be able to be withdrawn from the Deposit Account once the Dealer Manager provides notice to the Company and Xxxxx Wxxxx Fargo Bank, National Association that a condition set forth in Section 4 has not been satisfied or waived by the Dealer Manager. Such restriction on withdrawal shall continue until the Dealer Manager notifies the Company and Xxxxx Wxxxx Fargo Bank, National Association that funds in the Deposit Account can be released upon order of the Company.