Common use of Escrow Arrangements; Form of Payment Clause in Contracts

Escrow Arrangements; Form of Payment. Not later than three (3) days prior to each Closing, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent (the "Escrow Agent"), pursuant tx xxx xxxxx xx an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings minus the fees and expenses of Butler Gonzalez of Fifteen Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe of Credit Agreement dated the date hereof, and the retainer of Kirkpatrick & Lockhart LLP, by wire transfer of immediately available xxxxx xx xccoxxxxxx xith the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent agxxx (the xxx "Escrow Xxxxxx Agent"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the fees and expenses of Butler Gonzalez LLP of Fifteen Thousand Dollars Ten Thouxxxx Xxxxxxx ($15,000), as outlined 10,000) directly from the gross proceeds held in xxx Xxxxxx Xxxe escrow of Credit Agreement dated the date hereof, First Closing and the retainer fees of Kirkpatrick & Lockhart LLP, LLP of _______________ Doxxxxx ($_______) shall be paid directly from the gross proceeds of the First Closing by wire transfer of immediately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each and pending Closing, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto hereto, plus the fees and expenses of the Buyer(s) and, Butler Gonzalez LLP, shall be deposited in a nondepoxxxxx xx x xxx-interest xnterest bearing escrow account with Butler Gonzalez LLPWachovia, N.A., as escrow agent (the "Escrow AgentESCROW AGENT"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow AgreementESCROW AGREEMENT"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing DatesDate, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings Closing minus the fees and expenses of the Buyer(s) and, Butler Gonzalez of Fifteen Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe of Credit Agreement dated the date hereof, LLP and the retainer of Kirkpatrick retainxx xx Xxxxxxxrick & Lockhart LLP, by wire transfer of immediately xxxx xxxxxfer xx xxxxxiately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each and pending Closing, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto hereto, plus the fees and expenses of the Buyer and Butler Gonzalez LLP, shall be deposited in a xxxxxxxxx xx x non-interest bearing escrow account with Butler Gonzalez LLPWachovia, N.A., as escrow agent (the "Escrow AgentESCROW AGENT"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit EXHIBIT B (the "Escrow AgreementESCROW AGREEMENT"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing DatesDate, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings Closing minus the fees and expenses of the Buyer(s), Butler Gonzalez of Fifteen Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe of Credit Agreement dated the date hereof, and the retainer of Kirkpatrick ox Xxxxxxxxxxx & Lockhart LLP, by wire transfer of immediately wxxx xxxxxxer ox xxxxxiately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by ---------------------------------------- Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent (the "Escrow Agent"), pursuant tx pursuanx xx xxx xxxxx xx of an escrow agreement between the ------------- Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the satisfaction of the terms ---- ---------------- and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the fees and expenses of Butler Gonzalez LLP of Fifteen which Ten Thousand Dollars ($15,000), as outlined 10,000) shaxx xx xxxx xxxectly from the gross proceeds held in xxx Xxxxxx Xxxe escrow of Credit Agreement dated the date hereof, and the retainer of Kirkpatrick & Lockhart LLP, First Closing by wire transfer of immediately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent agxxx (the xxx "Escrow Xxxxxx Agent"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the fees and expenses of Butler Gonzalez LLP of Fifteen Thousand which Fifxxxx Xxxxxxxx Xxllars ($15,000) shall be paid directly from the gross proceeds of the First Closing and payment to Kirkpatrick & Lockhart LLP of whxxx Xxx Xxxdred Xxxxx Xhousand Five Hundred Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe 107,500) shall be paid directly from the gross proceeds of Credit Agreement dated the date hereof, First Closing and Fifty Six Thousand Two Hundred Fifty Dollars ($56,250) shall be paid directly from the retainer gross proceeds of Kirkpatrick & Lockhart LLP, the Second Closing by wire transfer of immediately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each and pending Closing, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto hereto, plus the fees and expenses of the Buyer and Butler Gonzalez LLP, shall be deposited in a non-interest bearing escrow account beaxxxx xxxxxx xxxxunt with Butler Gonzalez LLPWachovia, N.A., as escrow agent (the "Escrow AgentESCROW AGENT"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow AgreementESCROW AGREEMENT"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing DatesDate, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings Closing minus the fees and expenses of the Buyer(s), Butler Gonzalez of Fifteen Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe of Credit Agreement dated the date hereof, LLP and the retainer of Kirkpatrick & Lockhart LLP, by wire transfer xx xxxx xxxxxfer of immediately available availabxx xxxxx xx xccoxxxxxx xith acxxxxxxxx with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by ---------------------------------------- Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLPXxxxx Xxxxxxxx, Esq., as escrow agent (the "Escrow Agent"), pursuant tx xxx xxxxx xx to the terms of an escrow ------------ agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the --------- --------------- satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the fees and expenses of Butler Gonzalez Yorkville Advisors Management, LLC of Fifteen Thousand Dollars ($15,000)) referenced in Section 4 herein, as outlined which shall be paid directly from the gross proceeds held in xxx Xxxxxx Xxxe escrow of Credit Agreement dated the date hereof, First Closing and the retainer of Kirkpatrick Xxxxxxxxxxx & Lockhart LLP, Xxxxxxxx LLP of Twelve Thousand Five Hundred Dollars ($12,500) shall be paid directly from the gross proceeds of the First Closing and Twelve Thousand Five Hundred Dollars ($12,500) from the Second Closing by wire transfer of immediately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent (the "Escrow Agent"), pursuant tx xxx xxxxx xxxxxxxx xx the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the structuring fees and expenses of Butler Gonzalez of Fifteen Ten Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe 10,000) to be paid directly out of Credit Agreement dated the date hereof, gross proceeds of the First Closing and the retainer of Kirkpatrick & Lockhart LLP, LLP of Twelve Thousand Five Hundred Dollxxx ($00,000) to be xxxx out of the gross proceeds of the First Closing and Twelve Thousand Five Hundred Dollars ($12,500) shall be paid directly from the proceeds of the Second Closing to Kirkpatrick & Lockhart LLP by wire transfer of immediately available xxxxx immediatexx xxxxxxxle fuxxx xx xccoxxxxxx xith xccordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by ------------------------------------ Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent agexx (the xxx "Escrow Xxxxxx Agent"), pursuant tx xxx xxxxx xx an escrow agreement to the terms of Escrow Agreement between the ------------ Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement")Agent. Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the fees and expenses of Butler Gonzalez LLP of Fifteen Thousand Dollars Ten Thousanx Xxxxxxx ($15,000), as outlined 00,000) shall be paid directly from the gross proceeds held in xxx Xxxxxx Xxxe escrow of Credit Agreement dated the date hereof, First Closing and the retainer of Kirkpatrick & Lockhart LLP, LLP of Twenxx-Xxxx Xxxusaxx Xxxxxrs ($25,000) shall be paid directly from the gross proceeds of the First Closing by wire transfer of immediately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not No later than three (3) days prior to each Closing, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent agexx (the xxx "Escrow AgentXXXXXX AGENT"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit EXHIBIT B (the "Escrow AgreementESCROW AGREEMENT"). Subject to the satisfaction or waiver of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings minus the legal fees and expenses of Butler Gonzalez the Buyer(s) of Fifteen Twenty Five Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe of Credit Agreement dated the date hereof, 25,000) and the retainer of Kirkpatrick & Lockhart LLPLockhart, LLP by wire transfer wirx xxxxxxxx of immediately ixxxxxxxxly available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each and pending Closing, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto hereto, plus the fees and expenses of the Buyer and Butler Gonzalez LLP, shall be deposited in a dxxxxxxxx xx x non-interest bearing escrow account with Butler Gonzalez LLPWachovia, N.A., as escrow agent (the "Escrow AgentESCROW AGENT"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit EXHIBIT B (the "Escrow AgreementESCROW AGREEMENT"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing DatesDate, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings Closing minus the fees and expenses of the Buyer(s), Butler Gonzalez of Fifteen Thousand Dollars ($15,000), as outlined in xxx Xxxxxx Xxxe of Credit Agreement dated the date hereof, and the retainer of Kirkpatrick Xxxxxxxxxxx & Lockhart LLP, by wire transfer wixx xxxxxxxr of immediately xxxxxxately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.

Escrow Arrangements; Form of Payment. Not later than three (3Upon execution hereof by Buyer(s) days prior to each Closingand pending the Closings, the aggregate proceeds of the sale of the Convertible Debentures to Buyer(s) pursuant hereto shall be deposited in a non-interest bearing escrow account with Butler Gonzalez LLP, as escrow agent agenx (the xxx "Escrow Xxxxxx Agent"), pursuant tx xxx xxxxx xx to the terms of an escrow agreement between the Company, the Buyer(s) and the Escrow Agent in the form attached hereto as Exhibit B (the "Escrow Agreement"). Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Dates, (i) the Escrow Agent shall deliver to the Company in accordance with the terms of the Escrow Agreement such aggregate proceeds for the Convertible Debentures to be issued and sold to such Buyer(s) at the Closings ), minus the fees and expenses of Butler Gonzalez LLP of Fifteen Thousand Dollars which Ten Thxxxxxx Xxxxxxx ($15,000), as outlined 10,000) shall be paid directly from the gross proceeds held in xxx Xxxxxx Xxxe escrow of Credit Agreement dated the date hereof, First Closing and the retainer of Kirkpatrick & Lockhart LLPLLP of which Xxxxxx Xxxusaxx Xxxx Hundred Dollars ($12,500) shall be paid directly from the gross proceeds of the First Closing, and Twelve Thousand Five Hundred Dollars ($12,500) shall be paid directly from the gross proceeds held in escrow of the Second Closing by wire transfer of immediately available xxxxx xx xccoxxxxxx xith funds in accordance with the Company's written wire instructions, and (ii) the Company shall deliver to each Buyer, Convertible Debentures which such Buyer(s) is purchasing in amounts indicated opposite such Buyer's name on Schedule I, duly executed on behalf of the Company.