Common use of Disbursement of Escrow Funds Clause in Contracts

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 units ($1,000,000) and funds for at least $1,000,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 in collected funds have been deposited in the Escrow Account prior to December 31, 1997. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 units ($1,000,000) and funds for at least $1,000,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19971996. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 125 units ($1,000,0002,500,000) and funds for at least $1,000,000 2,500,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 2,500,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19971999. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 75 units ($1,000,0001,500,000) and funds for at least $1,000,000 1,500,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 1,500,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19972000. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 100 units ($1,000,0002,000,000) and funds for at least $1,000,000 2,000,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 in collected funds have been deposited in the Escrow Account prior to December 31, 1997. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 125 units ($1,000,0002,500,000) and funds for at least $1,000,000 2,500,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 2,500,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19972000. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 125 units ($1,000,0002,500,000) and funds for at least $1,000,000 2,500,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 2,500,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19971998. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 75 units ($1,000,0001,500,000) and funds for at least $1,000,000 1,500,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 1,500,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19971998. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.

Disbursement of Escrow Funds. Following deposit with the Bank of checks representing subscriptions for at least 50 75 units ($1,000,0001,500,000) and funds for at least $1,000,000 1,500,000 have been collected by the Bank and upon receipt by the Bank of written instructions from the Managing General Partner and the Dealer-Manager as to the date of closing with respect to such Partnership, the Bank will deliver to the Managing General Partner certified or official bank checks drawn on the Escrow Funds to the orders and in the amounts set forth in the aforementioned instructions. The Bank shall not disburse any Escrow Funds to the Partnership until at least $1,000,000 1,500,000 in collected funds have been deposited in the Escrow Account prior to December 31, 19971999. Pursuant to separate instructions from the Managing General Partner, the Bank will transmit to the subscribers, as specified by the Managing General Partner, the balance of the Escrow funds, representing interest which will be prorated by the Managing General Partner derived from the deposit of the Escrow funds in accordance with paragraph 2.3, in the amount set forth in the aforementioned instructions. All such disbursement instructions shall be unconditional and shall not impose any duties upon the Bank other than that of disbursing Escrow Funds in a designated amount to a particular party.