Distribution of Subscription Proceeds Sample Clauses

Distribution of Subscription Proceeds. If the Escrow Agent:
Sample 1Sample 2Sample 3See All (86)
AutoNDA by SimpleDocs
Distribution of Subscription Proceeds. Subject to Section 6, if the Escrow Agent:
Sample 1Sample 2Sample 3See All (12)
Distribution of Subscription Proceeds. (a) The Escrow Agent shall promptly distribute the deposited Subscription Proceeds, including any Interest Proceeds as calculated pursuant to Section 8, to the General Partner after receipt by the Escrow Agent of notice from the General Partner certifying that subscriptions for the Minimum Offering Amount have been received and accepted by the General Partner. Such notice shall state the date on which the initial closing date and release of the deposited Subscription Proceeds and all related Interest Proceeds shall occur. The Escrow Agent shall make such distributions to the General Partner on the initial closing date provided that such notice is received by 3:00 p.m. ET on a Business Day for the Escrow Agent to process such instructions that Business Day. If any date that is a deadline under this Agreement for giving the Escrow Agent notice or instructions or for the Escrow Agent to take action is not a Business Day, then such date shall be the Business Day immediately preceding that date.
Sample 1
Distribution of Subscription Proceeds. If the Escrow Agent: ž receives proper written notice from an authorized officer of Sun that the Minimum Subscription Proceeds have been received and accepted; and ž determines that Subscription Proceeds are Distributable Subscription Proceeds; the Escrow Agent shall promptly release and distribute amounts and payees designated in writing from the Escrow Agent the Distributable Subscription Proceeds plus any interest earned while held by the Escrow Agent in the escrow account to the escrow account established under Rule 419 to the Securities Act of 1933. “Distributable Subscription Proceeds” are Subscription Proceeds which have been deposited in the escrow account (1) by wire transfer or (2) if by check, after a ten day period from the date of deposit, period of time which would usually be sufficient for Subscription Proceeds paid by check to have returned unpaid by the bank on which the check was drawn. After the initial distribution, any remaining Subscription Proceeds, plus any interest earned while held by the Escrow Agent in the escrow account, shall be promptly released and distributed by the Escrow Agent immediately if by wire and, if by check, after a 10 day period from the date of deposit to payees and in amounts designated in writing by Sun. Sun shall immediately return to the Escrow Agent any Subscription Proceeds which were paid by a check which were returned or otherwise not collected for any reason prior or subsequent to termination of this Agreement.
Sample 1
Distribution of Subscription Proceeds. (a) The Escrow Agent shall promptly distribute the deposited Subscription Proceeds, plus any Interest Proceeds as calculated pursuant to Section 8, to the General Partner after receipt by the Escrow Agent of notice from the General Partner certifying that subscriptions for the Minimum Offering Amount have been received and accepted by the General Partner. Such notice shall state the date on which the initial closing date and release of the deposited Subscription Proceeds and all related Interest Proceeds shall occur. The Escrow Agent shall make such distributions to the General Partner on the initial closing date.
Sample 1

Related to Distribution of Subscription Proceeds

  • Working Capital Trust Account Proceeds Upon consummation of the Offering, $250,000 of the proceeds from the sale of the Firm Units will be released to the Company to fund the working capital requirements of the Company, and the remainder of the proceeds from the sale of the Firm Units will be deposited into the Trust Account and held pursuant to the terms of the Trust Agreement.

  • Trust Account Proceeds Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

  • Distribution of Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority:

  • Distributions from the Certificate Account (a) On each Distribution Date, the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account, the Available Distribution Amount (other than the Class E Distributable Amount and the Class P Distributable Amount) with respect to each Mortgage Pool, and shall distribute such amount to the Holders of record of each Class of Certificates or Components, in the following order of priority:

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Application of Net Liquidation Proceeds For all purposes under this agreement, Net Liquidation Proceeds received from a Servicer shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

  • Permitted Withdrawals from the Certificate Account (a) The Master Servicer may, from time to time, make withdrawals from the Certificate Account for the following purposes (limited, in the case of Servicer reimbursements, to cases where funds in the respective Custodial P&I Account are not sufficient therefor):

  • Distribution of Funds All funds received by the Trust to the extent not encumbered by the Indenture and otherwise available for distribution (or if encumbered by the Indenture, which have been released by the relevant parties benefiting from such encumbrance) will be distributed to the Beneficiary.

Time is Money Join Law Insider Premium to draft better contracts faster.