Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $2,000,000 have been received and accepted by the Managing General Partner by twelve (12:00) p.m. (noon), local time, EASTERN STANDARD TIME on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent, and the Escrow Agent promptly shall distribute to each Investor, for which Escrow Agent has a copy of the subscription agreement, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor's Subscription Proceeds while held by the Escrow Agent in the escrow account.
Distributions to Subscribers. (a) In the event that the Partnership will not be funded as contemplated because less than the minimum aggregate subscriptions of $1,000,000 have been received and accepted by the Managing General Partner by twelve p.m. (noon), local time, on December 31, 1999, or for any other reason, the Managing General Partner shall so notify the Escrow Agent, whereupon the Escrow Agent promptly shall distribute to each Investor a refund check made payable to such Investor in an amount equal to the Subscription Proceeds of such Investor, plus any interest paid or investment income earned thereon while held by the Escrow Agent in an escrow account as calculated by the Managing General Partner.
Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $1,000,000 have been received and accepted by the Managing General Partner by twelve p.m. (noon), local time, on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent, and the Escrow Agent promptly shall distribute to each Investor a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor's Subscription Proceeds while held by the Escrow Agent in the escrow account.
Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $2,000,000 have been received and accepted by the Managing General Partner by twelve (12:00) p.m. (noon), local time, Eastern Standard Time on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent that the minimum Subscription Proceeds of $2,000,000 has not been met, and the Escrow Agent promptly shall distribute to each Investor, for which Escrow Agent has a copy of the Subscription Agreement, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the Escrow Account.
Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $2,000,000 have been received and accepted by the Managing General Partner by twelve (12:00) p.m. (noon), local time, EASTERN STANDARD TIME on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent in writing, and the Escrow Agent promptly shall distribute to each Investor, for which Escrow Agent has (1) a copy of the Investor’s Subscription Agreement with mailing address and wire transfer information, (2) received Subscription Proceeds, and (3) become Distributable Subscription Proceeds, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the Escrow Account.
Distributions to Subscribers. (a) If the Minimum Offering Amount has not been received and accepted by the General Partner by 12:00 p.m. (noon), local time, on the Offering Termination Date, or if the offering is terminated before then for any other reason, then the General Partner shall notify the Escrow Agent, in writing, and the Escrow Agent shall promptly distribute to each Subscriber a refund check made payable to the Subscriber in an amount equal to the Subscription Proceeds of the Subscriber plus any interest paid or investment income earned on the Subscriber's Subscription Proceeds while held by the Escrow Agent in the escrow account, all as calculated by the Escrow Agent.
Distributions to Subscribers. (a) If the Minimum Offering Amount has not been received and accepted by the General Partner by 12:00 p.m. (noon), local time, on the Offering Termination Date, or if the offering is terminated before then for any other reason, then the General Partner shall notify the Escrow Agent, in writing, and the Escrow Agent shall promptly distribute to each Subscriber a refund check made payable to the Subscriber in an amount equal to the Subscription Proceeds of the Subscriber plus any interest paid or investment income earned on the Subscriber’s Subscription Proceeds while held by the Escrow Agent in the escrow account, all as calculated by the Escrow Agent. A refund check will not be issued to a Subscriber under this provision until after the Escrow Agent has determined that the Subscriber’s funds have cleared banking channels and are recognized as “good funds.”
Distributions to Subscribers. (a) If the Minimum Offering Amount has not been received and accepted by the General Partner when the offering is terminated, then the General Partner shall notify the Escrow Agent, in writing, and the Escrow Agent shall promptly distribute to each Subscriber a refund check made payable to the Subscriber in an amount equal to the Subscription Proceeds of the Subscriber, plus any interest paid or investment income earned on the Subscriber’s Subscription Proceeds while held by the Escrow Agent in the escrow account, all as calculated by the Escrow Agent.
Distributions to Subscribers. (a) In the event that the Company will not be funded as contemplated because less than the minimum aggregate subscriptions of $200,000 have been received and accepted by the Company by 12:00 p.m. (noon), local time, on ________________ _____, 2002, or for any other reason, the Company shall so notify the Escrow Agent, whereupon the Escrow Agent shall promptly distribute to each Investor a refund check made payable to such Investor in an amount equal to the Subscription Proceeds of such Investor, plus any interest paid or investment income earned thereon while held by the Escrow Agent in an escrow account as calculated by the Company.
Distributions to Subscribers. (a) If the Partnership is not funded as contemplated because less than the minimum Subscription Proceeds of $ have been received and accepted by the Managing General Partner by twelve (12:00) p.m. (noon), local time, EASTERN STANDARD TIME on the Offering Termination Date, or for any other reason, then the Managing General Partner shall notify the Escrow Agent, and the Escrow Agent promptly shall distribute to each Investor, for which Escrow Agent has a copy of the subscription agreement, a refund check made payable to the Investor in an amount equal to the Subscription Proceeds of the Investor, plus any interest paid or investment income earned on the Investor’s Subscription Proceeds while held by the Escrow Agent in the escrow account.
