Disbursement from the Escrow Account. 4.1 The Deposited Proceeds may be released to the Company and the Deposited Securities delivered to the purchaser or other registered owner only at the same time as or after the Escrow Agent has received a signed representation letter from the Company, together with an opinion of counsel that the requirements of Rule 419 as promulgated pursuant to the Securities Act of 1933 as amended (the "Act") as to the consummation of a business acquisition have been satisfied.
Appears in 5 contracts
Samples: Escrow Agreement (Worldwide Tech Inc), Escrow Agreement (Intertech Ventures Inc), Escrow Agreement (New Tech Ventures Inc)
