Common use of Deposit of Proceeds Clause in Contracts

Deposit of Proceeds. All proceeds from subscriptions in the Offering shall be delivered by the Company to the Escrow Agent, within forty-eight hours of receipt, endorsed (if appropriate) to the order of the Escrow Agent, together with an appropriate written statement setting forth the name, address and social security number of each person subscribing for Units, the number of Units subscribed for, and the amount paid by each such subscriber. Any such proceeds deposited with the Escrow Agent in the form of uncollected checks shall be promptly presented by the Escrow Agent for collection through customary banking and clearing house facilities.

Deposit of Proceeds. All proceeds from subscriptions in the Offering shall be delivered by the Company to the Escrow Agent, within forty-eight hours of receipt, endorsed (if appropriate) to the order of the Escrow Agent, together with an appropriate written statement setting forth the name, address and social security number of each person subscribing for UnitsSubscriber, the number of Units subscribed for, and the amount paid by each such subscriberSubscriber. Any such proceeds deposited with the Escrow Agent in the form of uncollected checks shall be promptly presented by the Escrow Agent for collection through customary banking and clearing house facilities.