Common use of DEPOSIT INTO ESCROW Clause in Contracts

DEPOSIT INTO ESCROW. Until such time as prospective investors have subscribed for the Minimum Subscription, and, thereafter, whenever the Dealer Manager receives an instrument of payment made payable to the Escrow Agent, the Dealer Manager will (i) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's receipt of the same, deposit with Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by it, accompanied by a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "Escrow Account for the Benefit of Subscribers for Common Stock of Wells Timber Real Estate Investment Trust, Inc." (the "ESCROW ACCOUNT"). Xxe Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investors. In any such instance, Escrow Agent is authorized to debit the Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.

DEPOSIT INTO ESCROW. Until such time as prospective investors have subscribed for the Minimum Subscription, and, thereafter, whenever the Dealer Manager receives an instrument of payment made payable to the Escrow Agent, the Dealer Manager will (i) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's receipt of the same, deposit with Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by it, accompanied by a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "Escrow Account for the Benefit of Subscribers for Common Stock of Wells Timber Real Estate Investment Trust, Inc." (the "ESCROW ACCOUNT"). Xxe Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investorsDealer Manager. In any such instance, Escrow Agent is authorized to debit the Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.

DEPOSIT INTO ESCROW. Until such time as prospective investors have subscribed for the Minimum Subscription, Subscription and, thereafter, whenever the Dealer Manager receives an instrument of payment made payable to the Escrow Agent, the Dealer Manager will (i) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's ’s receipt of the same, deposit with Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by it, accompanied by a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "“Escrow Account for the Benefit of Subscribers for Common Stock of Wells Xxxxx Timber Real Estate Investment Trust, Inc." ” (the "ESCROW ACCOUNT"“Escrow Account”). Xxe The Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' ’ instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investors. In any such instance, Escrow Agent is authorized to debit the Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.

DEPOSIT INTO ESCROW. Until such time as prospective investors have subscribed for the Minimum Subscription, and, thereafter, whenever the Dealer Manager receives an instrument of payment made payable to the Escrow Agent, the Dealer Manager will (i) instruct subscribers to remit the Subscription Payments by wire transfer directly to the Escrow Account (as defined below), (ii) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's Escrow Agent’s receipt of the sameSubscription Payments, deposit with send to Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by it, accompanied by Agent a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to received by Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "“Escrow Account for the Benefit of Subscribers for Common Stock of Wells Timber Real Estate Investment TrustXxxxx REIT Institutional, Inc." ” (the "ESCROW ACCOUNT"“Escrow Account”). Xxe The Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investorsDealer Manager. In any such instance, Escrow Agent is authorized to debit the Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.

DEPOSIT INTO ESCROW. Until such time as prospective Pennsylvania investors have subscribed for the Pennsylvania Minimum Subscription, Subscription and, thereafter, whenever the Dealer Manager receives an instrument of payment made payable to the Escrow Agent, the Dealer Manager will (i) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's ’s receipt of the same, deposit with Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by itit from Pennsylvania investors, accompanied by a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "“Pennsylvania Escrow Account for the Benefit of Subscribers for Common Stock of Wells Xxxxx Timber Real Estate Investment Trust, Inc." ” (the "ESCROW ACCOUNT"“Pennsylvania Escrow Account”). Xxe The Pennsylvania Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' ’ instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Pennsylvania Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investors. In any such instance, Escrow Agent is authorized to debit the Pennsylvania Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.

DEPOSIT INTO ESCROW. Until such time as prospective investors have subscribed for the Minimum Subscription, and, thereafter, whenever the Dealer Manager receives an instrument of payment a check made payable to the Escrow Agent, the Dealer Manager will (i) by 12:00 p.m. Eastern Time on the next business day following Dealer Manager's receipt of the same, deposit with Escrow Agent, or cause to be deposited with Escrow Agent, all Subscription Payments received by it, accompanied by a list of the names, social security numbers or tax identification numbers, and addresses (and any other information required for withholding purposes) of, and amounts paid by, each prospective investor, and (ii) allow such Subscription Payments to remain in escrow with Escrow Agent and not withdraw, or attempt to withdraw, such Subscription Payments from Escrow Agent, except as herein provided. Notwithstanding the foregoing, if any prospective investor shall exercise any right provided by law to rescind his or her subscription, Escrow Agent shall, upon notice from Company or Dealer Manager, return to such prospective investor all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such Subscription Payments were held by Escrow Agent under this Escrow Agreement. Instruments of payment and wired funds received from residents of Pennsylvania shall be placed in a separate escrow account established specifically for such subscribers. All Subscription Payments delivered to Escrow Agent by Dealer Manager pursuant hereto shall be deposited immediately by Escrow Agent in a separate account designated as the "Escrow Account for the Benefit of Subscribers for Common Stock of Wells Timber Real Estate Investment Trust, Inc." (the "ESCROW ACCOUNT"). Xxe Escrow Account shall be created and maintained subject to the terms of this Escrow Agreement and the customary rules and regulations of Escrow Agent pertaining to such accounts. If any of the prospective investors' instruments of payment for the subscription of Shares are dishonored or returned to Escrow Agent for nonpayment prior to receipt of the Minimum Subscription, Escrow Agent shall promptly notify Dealer Manager in writing of such nonpayment and return such instruments of payment to the prospective investorsDealer Manager. In any such instance, Escrow Agent is authorized to debit the Escrow Account in the amount of such return payment as well as any earnings on the investment represented by such payment.