Common use of Proceeds to be Escrowed Clause in Contracts

Proceeds to be Escrowed. On or before the date the Offering Document is initially declared effective by the Securities and Exchange Commission (the “SEC”), the Company shall establish an interest-bearing escrow account with the Escrow Agent to be invested in accordance with Section 10 titled “ESCROW ACCOUNT FOR THE BENEFIT OF INVESTORS IN COMMON SHARES OF LIGHSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST III, INC.” (including such abbreviations as are required for the Escrow Agent’s systems) (the “Escrow Account”). All funds received from Investors in payment for the Common Shares (“Investor Funds”), along with all documents executed in connection with each subscription of Common Shares, will be delivered to the Dealer Manager or any soliciting dealer retained by the Dealer Manager (a “Soliciting Dealer”), and the Dealer Manager or such Soliciting Dealer, as applicable, will deliver all Investor Funds to the Escrow Agent within the time period set forth in the final paragraph of this Section 1, and such Investor Funds shall, upon receipt by the Escrow Agent, be retained in escrow by the Escrow Agent. Until the Termination Date (as defined in Section 7), the Company or its agents shall cause all checks received for payment for the Common Shares to be payable to the Escrow Agent in accordance with Section 2 and delivered to the Escrow Agent for deposit in the Escrow Account.

Proceeds to be Escrowed. On or before the date the Offering Document is initially declared effective by the Securities and Exchange Commission (the “SEC”), the Company shall establish an interest-bearing escrow account with the Escrow Agent to be invested in accordance with Section 10 titled “ESCROW ACCOUNT FOR THE BENEFIT OF INVESTORS IN COMMON SHARES OF LIGHSTONE VALUE PLUS REAL ESTATE INVESTMENT INCOME TRUST III, INC.” (including such abbreviations as are required for the Escrow Agent’s systems) (the “Escrow Account”). All funds received from Investors in payment for the Common Shares (“Investor Funds”), along with all documents executed in connection with each subscription of Common Shares, will be delivered to the Dealer Manager or any soliciting dealer retained by the Dealer Manager (a “Soliciting Dealer”), and the Dealer Manager or such Soliciting Dealer, as applicable, will deliver all Investor Funds to the Escrow Agent within the time period set forth in the final paragraph of this Section 1, and such Investor Funds shall, upon receipt by the Escrow Agent, be retained in escrow by the Escrow Agent. Until the Termination Date (as defined in Section 7), the Company or its agents shall cause all checks received for payment for the Common Shares to be payable to the Escrow Agent in accordance with Section 2 and delivered to the Escrow Agent for deposit in the Escrow Account.