Common use of Establishment of the Bank Account Clause in Contracts

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 7 contracts

Samples: Escrow Agreement (Puyi, Inc.), Escrow Agreement (Baikang Biological Group Holdings LTD), Escrow Agreement (Puyi, Inc.)

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Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, checks or wire transfers) which are received by the Underwriter Issuer from prospective purchasers of the Securities and are delivered by the Underwriter Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 6 contracts

Samples: Escrow Agreement (StreamNet, Inc.), Escrow Agreement (McGraw Conglomerate Corp), Escrow Agreement (StreamNet, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 4 contracts

Samples: Escrow Agreement (Hailiang Education Group Inc.), Escrow Agreement (Hailiang Education Group Inc.), Escrow Agreement (Lightspace Corp)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Selling Agents from prospective purchasers of the Securities and are delivered by the Underwriter Selling Agents to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Escrow Agreement (Chicken Soup for the Soul Entertainment, Inc.), Escrow Agreement (Chicken Soup for the Soul Entertainment, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Chemical Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Escrow Agreement (Casull Arms Corp), Escrow Agreement (Osmotics Corp)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX JX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Escrow Agreement (Provention Bio, Inc.), Escrow Agreement (Cue Biopharma, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX JX Xxxxxx Chase Cxxxx selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank "Escrow Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Placement Agent from prospective purchasers of the Securities and are delivered by the Underwriter Placement Agent to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 2 contracts

Samples: Escrow Agreement (Imperial Garden & Resort, Inc.), Escrow Agreement (Imperial Garden & Resort, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest- bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Underwriter Issuer from prospective purchasers of the Securities and are delivered by the Underwriter Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Alpha Resources Inc /De/)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Chemical Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter Under-writer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Sherry Lane Growth Fund Inc)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase Bank NA (the "Bank") selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Escrow Agent from prospective purchasers of the Securities and are delivered by in connection with the Underwriter to the Escrow AgentOffering, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Cur Media, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank. selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for for: (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by from the Underwriter from prospective purchasers Purchasers of the Securities and are delivered by the Underwriter Placement Agent to the Escrow Agent, ; (b) the holding of amounts of subscription monies which are collected through the banking system, ; and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Subscription Agreement (ZBB Energy Corp)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX JX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter or the Issuer from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Puhui Wealth Investment Management Co., Ltd.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”"BANK ACCOUNT"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, checks or wire transfers) which are received by the Underwriter Placement Agent from prospective purchasers of the Securities and are delivered by the Underwriter Placement Agent to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Xstream Beverage Network, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Placement Agents from prospective purchasers of the Securities and are delivered by the Underwriter Placement Agents to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Moxian, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). While on deposit, the Escrow Agent can earn bank credits or other consideration. The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, checks or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and which are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (NeoVolta Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Manhattan Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, cash or wire transfers) which are received by the Underwriter Company or the QIU from prospective purchasers of the Securities Shares and are delivered by the Underwriter Company or the QIU to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Form of Escrow Agreement (Emerging Growth Acquisition Corp I)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX JX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Placement Agent from prospective purchasers of the Securities and are delivered by the Underwriter Placement Agent to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Greenpro Capital Corp.)

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Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, checks or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities Issuer and are delivered by the Underwriter Issuer to the Escrow AgentAgent and which are delivered directly to the Escrow Agent by the Investors, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Prometheum, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX JX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Jerash Holdings (US), Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Issuer from prospective purchasers of the Securities and are delivered by the Underwriter Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Spongetech Delivery Systems Inc)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX JX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter Selling Agents from prospective purchasers of the Securities and are delivered by the Underwriter Selling Agents to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Chicken Soup for the Soul Entertainment, Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, credit card deposits or wire transfers) which are received by the Underwriter Issuer from prospective purchasers of the Securities and are delivered by the Underwriter Issuer or an Investor to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Campagna Motors USA Inc.)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish use its XXXX account which is a non-interest interest-bearing bank escrow account at a the branch of XX Xxxxxx Chase a bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”"BANK ACCOUNT"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, checks or wire transfers) which are received by the Underwriter Placement Agent from prospective purchasers of the Securities and are delivered by the Underwriter Placement Agent to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Bio Key International Inc)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX JX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the "Bank Account"). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (Valuerich Inc)

Establishment of the Bank Account. 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a the branch of XX Xxxxxx Chase Xxxxx selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected fundscollectedfunds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement

Establishment of the Bank Account. 2.1 2.1. The Escrow Agent shall establish a non-interest interest-bearing bank account at a the branch of XX Xxxxxx Chase Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”); while the funds are on deposit, the Escrow Agent may earn bank credits or other consideration. The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, checks or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and which are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, system and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (RumbleON, Inc.)

Establishment of the Bank Account. 2.1 2.1. The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

Appears in 1 contract

Samples: Escrow Agreement (China Eco-Materials Group Co. LTD)

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