Common use of Establishment of Escrow Account; Escrow Period Clause in Contracts

Establishment of Escrow Account; Escrow Period. The Company hereby appoints the Escrow Agent for purposes of holding the proceeds from subscriptions for Shares on the terms and conditions set forth herein. On or prior to the commencement of the offering of Shares pursuant to the Offering Document, the Company shall establish the Escrow Account with the Escrow Agent, which shall be entitled “UMB Bank, N.A., as Escrow Agent for Independence Mortgage Trust.” This Agreement shall be effective on the date on which the Offering Document is declared effective by the SEC. The escrow period shall commence upon the effectiveness of this Agreement and shall continue until the earlier of (i) the date upon which the Escrow Agent receives confirmation from the Company that the Company has raised the Pennsylvania Minimum (as defined below), (ii) the Termination Date, or (iii) the termination of the Offering by the Company prior to the receipt of the Minimum Offering (the period from the effectiveness of this Agreement to the earlier of any of the foregoing is referred to as the “Escrow Period”).

Establishment of Escrow Account; Escrow Period. The Company hereby appoints the Escrow Agent for purposes of holding the proceeds from subscriptions for Shares on the terms and conditions set forth herein. On or prior to the commencement of the offering of Shares pursuant to the Offering Document, the Company shall establish the Escrow Account with the Escrow Agent, which shall be entitled “UMB Bank, N.A., as Escrow Agent for Independence Mortgage TrustEmpire REIT.” This Agreement shall be effective on the date on which the Offering Document is declared effective by the SECbecomes effective. The escrow period shall commence upon the effectiveness of this Agreement and shall continue until the earlier of (i) the date upon which the Escrow Agent receives confirmation from the Company that the Company has raised the Pennsylvania Minimum (as defined below), (ii) the Termination Date, or (iii) the termination of the Offering by the Company prior to the receipt of the Minimum Offering (the period from the effectiveness of this Agreement to the earlier of any of the foregoing is referred to as the “Escrow Period”).

Establishment of Escrow Account; Escrow Period. The Company hereby appoints the Escrow Agent for purposes of holding the proceeds from subscriptions for Shares on the terms and conditions set forth herein. On or prior to the commencement of the offering of Shares pursuant to the Offering Document, the Company shall establish the Escrow Account with the Escrow Agent, which shall be entitled “UMB Bank, N.A., as Escrow Agent for Independence Mortgage Realty Trust.” This Agreement shall be effective on the date on which the Offering Document is declared effective by the SECbecomes effective. The escrow period shall commence upon the effectiveness of this Agreement and shall continue until the earlier of (i) the date upon which the Escrow Agent receives confirmation from the Company that the Company has raised the Pennsylvania Minimum (as defined below), (ii) the Termination Date, or (iii) the termination of the Offering by the Company prior to the receipt of the Minimum Offering (the period from the effectiveness of this Agreement to the earlier of any of the foregoing is referred to as the “Escrow Period”).