Common use of Establishment of Escrow Accounts Clause in Contracts

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE PROPERTIES, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks and issue a check made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.

Establishment of Escrow Accounts. On or prior to Within ten (10) Business Days from the Effective Dateexecution of this Agreement, the Company Parties shall enter into the Escrow Agreement attached hereto as Exhibit D with the Escrow Agent selected by the City, and EDC and/or CDC shall deposit the Managing Dealer shall establish aggregate amount of $5,000,000.00 to be held by the Escrow Agent in an interest-bearing escrow account (the “Xxxxxxx Money Funds Escrow Account”), which amount shall be disbursed in accordance with the provisions of Section 2.10 hereof (the “Xxxxxxx Money Funds”). On or before October 1, 2012 (the “Fund Delivery Deadline”), the Frisco Parties shall deposit $1,000,000.00 to be held by the Escrow Agent in an interest-bearing account, subject to additional deposits in accordance with Section 5.2 (the “Remediation Funds Escrow Account”), which shall be disbursed to Exide in reimbursement of the remediation costs associated with J Parcel as more fully set out in Section 5.2 hereof (the “Remediation Funds”). On or before the Fund Delivery Deadline, the EDC shall deposit the EDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited by EDC into the Xxxxxxx Money Funds Escrow Account) into an interest-bearing account with the Escrow Agent, which escrow account shall Agent to be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE PROPERTIES, INC." held and disbursed as set forth in Section 2.11 and Article 12 below (the "“Purchase Price Escrow Account"”). All monies On or before the Fund Delivery Deadline, the CDC shall deposit the CDC Purchase Price (less the amount of the Xxxxxxx Money Funds deposited in by CDC into the Xxxxxxx Money Funds Escrow Account are hereinafter referred to as Account) into the "Escrowed Funds." The Managing Dealer will, Purchase Price Escrow Account. EDC and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the order of CDC shall also deposit with the Escrow Agent until such time in the Purchase Price Escrow Account the Purchasers’ Resolutions by the Fund Delivery Deadline. Within three (if any3) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks may be made payable to either Business Days from receiving written confirmation from the Escrow Agent or that the Company. Any checks received prior Remediation Funds have been deposited into the Remediation Funds Escrow Account and the EDC Purchase Price, the CDC Purchase Price and the Purchaser’s Resolutions have been deposited into the Purchase Price Escrow Account (the “Deed Delivery Deadline”), Exide shall execute and deliver to the time, if any, that the Escrowed Funds are deliverable Escrow Agent a special warranty deed to the Company pursuant EDC Tract (the “EDC Tract Deed”) and a special warranty deed to the provisions CDC Tract (the “CDC Tract Deed” and collectively with the EDC Tract Deed, the “Deeds”), and the Access Easement to be held in the Purchase Price Escrow Account and delivered to the EDC and the CDC, respectively, on the Closing Date. The Deeds shall be in the form attached as Exhibit E. Exide shall also deposit with the Escrow Agent in the Purchase Price Escrow Account two original Non-Foreign Person Affidavits and two originals of Paragraph 5(a) below that are made payable the Exide Resolutions by the Deed Delivery Deadline. The Deeds, Access Easements and Non-Foreign Person Affidavits delivered to a party other than the Escrow Agent shall be returned duly executed and notarized, where appropriate, and, where appropriate, be in recordable form, but shall not be dated. Interest on the funds held in the Purchase Price Escrow Account shall accrue to the Soliciting Dealer who submitted account of EDC and CDC, respectively, and, except as otherwise provided herein, shall be immediately released and paid to EDC and CDC, at the checktime of the disbursement of the EDC Purchase Price and the CDC Purchase Price to Exide. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly Interest on the funds held in the Xxxxxxx Money Escrow Account shall accrue to the Soliciting Dealer. In such caseaccount of EDC and/or CDC, in proportion to their relative contribution to the Soliciting Dealer will collect the proceeds funding of the subscribers' checks Xxxxxxx Money Funds Escrow Account, and issue shall be immediately released and paid to EDC and/or CDC, as applicable, at the time of the final disbursement of Xxxxxxx Money Funds from the Xxxxxxx Money Funds Escrow Account as set forth herein. All administrative costs associated with the Remediation Funds Escrow Account, Xxxxxxx Money Funds Escrow Account and the Purchase Price Escrow Account shall be the sole cost and expense of the EDC and CDC on a check made payable pro rata basis, which pro rata calculation shall be in proportion to the order EDC and/or the CDC funding of the Escrow Agent for the aggregate amount of the subscription proceedsescrow accounts.

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE PROPERTIESAMERICAN REALTY FUND, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks and issue a check made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE PROPERTIESAMERICAN REALTY FUND, INC." . (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks and issue a check made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE RETIREMENT PROPERTIES, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks Payments for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks Payments for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks Payments and issue a check Payment made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds. In addition, certain Soliciting Dealers that have entered into Addendum B to the Participating Broker Agreement may issue a Payment made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds less any selling commissions to which such Soliciting Dealers are entitled (pursuant to the Participating Broker Agreement and the Prospectus).

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "“ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE PROPERTIESHOSPITALITY PROPERTIES II, INC." ” (the "“Escrow Account"”). All monies deposited in the Escrow Account are hereinafter referred to as the "“Escrowed Funds." ” The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks Payments for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks Payments may be made payable to either the Escrow Agent or the Company. Any checks Payments received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the checkPayment. The Managing Dealer may authorize certain Soliciting Dealers which are "“$250,000 clearing broker-dealers" ” to instruct their customers to make their checks Payments for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks ’ Payments and issue a check Payment made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE INCOME PROPERTIES, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks may be made payable to either the Escrow Agent or the Company. Any checks received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the check. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks and issue a check made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.

Establishment of Escrow Accounts. On or prior to the Effective Date, the Company and the Managing Dealer shall establish an interest-bearing escrow account with the Escrow Agent, which escrow account shall be entitled "ESCROW ACCOUNT FOR THE BENEFIT OF SUBSCRIBERS FOR COMMON STOCK OF CNL HEALTH CARE INCOME PROPERTIES, INC." (the "Escrow Account"). All monies deposited in the Escrow Account are hereinafter referred to as the "Escrowed Funds." The Managing Dealer will, and will cause selected broker-dealers acting as Soliciting Dealers to, instruct subscribers to make checks Payments for subscriptions payable to the order of the Escrow Agent until such time (if any) as the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below. From and after such time, checks Payments may be made payable to either the Escrow Agent or the Company. Any checks Payments received prior to the time, if any, that the Escrowed Funds are deliverable to the Company pursuant to the provisions of Paragraph 5(a) below that are made payable to a party other than the Escrow Agent shall be returned to the Soliciting Dealer who submitted the checkPayment. The Managing Dealer may authorize certain Soliciting Dealers which are "$250,000 clearing broker-dealers" to instruct their customers to make their checks Payments for Shares subscribed for payable directly to the Soliciting Dealer. In such case, the Soliciting Dealer will collect the proceeds of the subscribers' checks Payments and issue a check Payment made payable to the order of the Escrow Agent for the aggregate amount of the subscription proceeds.