Deposit of Funds. (a) All funds received by the Escrow Agent from subscribers for the Shares shall be deposited and held in the Escrow Account. The Escrow Agent is hereby empowered on behalf of the Company to endorse and collect all checks, drafts, or other instruments received on account of subscriptions for Shares. Any check returned unpaid to the Escrow Agent shall be returned by the Escrow Agent to the subscriber. In such cases, the Escrow Agent shall promptly notify the Company of such return. The Escrow Agent shall provide information to the Company as to the funds deposited into the Escrow Account and the collection status of such funds. As used herein, "
Appears in 11 contracts
Samples: Escrow Agreement (Wentworth Ii Inc), Escrow Agreement (Wentworth Iii Inc), Escrow Agreement (Wentworth Iii Inc)
Deposit of Funds. (a) All funds received by the Escrow Agent from subscribers for the Shares shall be deposited and held in the Escrow Account. The Escrow Agent is hereby empowered on behalf of the Company to endorse and collect all checks, drafts, or other instruments received on account of subscriptions for Shares. Any check returned unpaid to the Escrow Agent shall be returned by the Escrow Agent to the subscriber. In such cases, the Escrow Agent shall promptly notify the Company of such return. The Escrow Agent shall provide information to the Company as to the funds deposited into the Escrow Account and the collection status of such funds. As used herein, ".
Appears in 4 contracts
Samples: Escrow Agreement (Samdrew Ii Inc), Escrow Agreement (Samdrew I Inc), Escrow Agreement (Ocean Life Sciences I Inc)
Deposit of Funds. (a) All funds received by the Escrow Agent from subscribers for the Shares Units shall be deposited and held in the Escrow Account. The Escrow Agent is hereby empowered on behalf of the Company to endorse and collect all checks, drafts, or other instruments received on account of subscriptions for SharesUnits. Any check returned unpaid to the Escrow Agent shall be returned by the Escrow Agent to the subscriber. In such cases, the Escrow Agent shall promptly notify the Company of such return. The Escrow Agent shall provide information to the Company as to the funds deposited into the Escrow Account and the collection status of such funds. As used herein, "
Appears in 2 contracts
Samples: Escrow Agreement (Greengate Corp), Escrow Agreement (Bluegate Corp)
