Common use of Deposits into the Escrow Account Clause in Contracts

Deposits into the Escrow Account. The Transfer Agent will transmit all monies received from subscribers for the payment of Shares to the Escrow Agent, for deposit in the Escrow Account, by noon of the next Business Day immediately following the day the Transfer Agent received such monies. Until such time that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Section 5(a) below, the Transfer Agent will maintain a written account of each sale, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the amount paid by such subscriber for such Shares. The Company, the Escrow Agent and the Transfer Agent are aware and understand that, during such escrow period, none of them is entitled to any funds received into the Escrow Account, and no amounts deposited in the Escrow Account shall become the property of the Company, the Escrow Agent or the Transfer Agent, or be subject to the debts or offsets of the Company, the Escrow Agent or the Transfer Agent. As used in this Agreement, the term “Business Day” means any day except Saturday, Sunday or a day on which commercial banks in New York, New York or Kansas City, Missouri are not closed in respect of a federal or state holiday.

Deposits into the Escrow Account. The Transfer Agent will transmit all monies received from subscribers for the payment of Shares to the Escrow Agent, for deposit in the Escrow Account, by noon of the next Business Day immediately following the day the Transfer Agent received such monies. Until such time that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Section 5(a2(c) below, the Transfer Agent will maintain a written account of each sale, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the amount paid by such subscriber for such Shares. The Company, the Escrow Agent and the Transfer Agent are aware and understand that, during such escrow periodEscrow Period, none of them is entitled to any funds received into the Escrow Account, and no amounts deposited in the Escrow Account shall become the property of the Company, the Escrow Agent or the Transfer Agent, or be subject to the debts or offsets of the Company, the Escrow Agent or the Transfer Agent. As used in this Agreement, the term “Business Day” means any day except Saturday, Sunday or a day on which commercial banks in New York, New York or Kansas City, Missouri are not closed in respect of a federal or state holiday.