Common use of Inability to Deliver Clause in Contracts

Inability to Deliver. In the event that checks for subscriptions delivered to the Escrow Agent by the Managing Dealer or a Selected Dealer pursuant to this Agreement are not cleared through normal banking channels within 120 days after such delivery, the Escrow Agent shall deliver such uncleared checks to the Managing Dealer or a Selected Dealer unless the Escrowed Funds are returned to subscribers pursuant to Paragraphs 5(b) or 5(c) above, in which case the Escrow Agent shall mail such uncleared checks to the subscribers.

Inability to Deliver. In the event that checks for subscriptions delivered to the Escrow Agent by any of the Managing Dealer Dealers or a Selected Dealer pursuant to this Agreement are not cleared through normal banking channels within 120 days after such delivery, the Escrow Agent shall deliver such uncleared checks to the Managing Dealer or a Selected Dealer Dealers who proffered same unless the Escrowed Funds are returned to subscribers pursuant to Paragraphs 5(b) or 5(c) above, in which case the Escrow Agent shall mail such uncleared checks to the subscribers.

Inability to Deliver. In the event that checks for subscriptions delivered to the Escrow Agent by the Managing Dealer or a Selected Dealer Company pursuant to this Agreement are not cleared through normal banking channels within 120 days after such delivery, the Escrow Agent shall deliver such uncleared checks to the Managing Dealer or a Selected Dealer Company unless the Escrowed Funds are returned to subscribers pursuant to Paragraphs Paragraph 5(b) or 5(c) above, in which case the Escrow Agent shall mail such uncleared checks to the subscribers.