Interest Earnings. All interest earned on the escrow funds deposited in the Accounts hereunder shall be added to and held in the Accounts. Upon each closing, pursuant to Written Instructions, within 5 business days the Escrow Agent shall issue interest payments in check form to each Potential Investor based on his individual balance in the Subscription Account along with a cover letter and to the Manager based upon its balance in the Subscription Account along with a cover letter. The Escrow Agent will prepare and send notifications on Form 1099 for each calendar year to all persons who have received distributions of earnings reflecting their respective shares of such earnings.
Appears in 3 contracts
Samples: Escrow Agreement (Gam Avalon Multi Technology Lp), Escrow Agreement (Gam Avalon Multi-Global Lp), Escrow Agreement (Gam Avalon Multi-Europe Lp)
Interest Earnings. All interest earned on the escrow funds deposited in the Accounts Subscription Account hereunder shall be added to and held in the Accounts. Upon each closing, pursuant to Written Instructions, within 5 business days the Escrow Agent Administrator shall issue interest payments in check form to each Potential Investor based on his individual balance in the Subscription Account along with a cover letter and to the Manager U.S. Trust Company based upon its balance in the Subscription Adviser's Account along with a cover letter. The Escrow Agent Administrator will prepare and send notifications on Form 1099 for each calendar year to all persons who have received distributions of earnings reflecting their respective shares of such earnings.
Appears in 3 contracts
Samples: Escrow Agreement (Excelsior Venture Partners Fund Iii LLC), Escrow Agreement (Excelsior Corporate Finance Investors LLC), Escrow Agreement (Excelsior Venture Partners Iii LLC)
Interest Earnings. All interest earned on the escrow funds deposited in the Accounts hereunder shall be added to and held in the Accounts. Upon each closing, pursuant to Written Instructions, within 5 business days of the crediting of such interest the Escrow Agent shall issue interest payments in check form to each Potential Investor based on his individual balance in the Subscription Account along with a cover letter and to the Manager Adviser based upon its balance in the Subscription Account along with a cover letter. The Escrow Agent will prepare and send notifications on Form 1099 for each calendar year to all persons who have received distributions of earnings reflecting their respective shares of such earnings.
Appears in 2 contracts
Samples: Escrow Agreement (Gam Avalon Dinadan LLC), Escrow Agreement (Gam Avalon Palemedes LLC)
Interest Earnings. All interest earned on the escrow funds deposited in the Accounts Subscription Account hereunder shall be added to and held in the Accounts. Upon each closing, pursuant to Written Instructions, within 5 business days the Escrow Agent shall issue interest payments in check form to each Potential Investor based on his individual balance in the Subscription Account along with a cover letter and to the Manager U.S. Trust Company based upon its balance in the Subscription Adviser's Account along with a cover letter. The Escrow Agent will prepare and send notifications on Form 1099 for each calendar year to all persons who have received distributions of earnings reflecting their respective shares of such earnings.
Appears in 2 contracts
Samples: Escrow Agreement (Excelsior Venture Partners Iii LLC), Escrow Agreement (Excelsior Venture Partners Iii LLC)
