Rejected Subscription Sample Clauses
Rejected Subscription. In the event that before a Closing Time with respect to any subscriber the Bank-Escrowee shall have received written advice from the Depositor-Agent that such named subscriber has been rejected by the Partnership, or that prior to such Closing Time it is determined by the Partnership that such named subscriber does not meet the suitability standards required by the Partnership for investment in the Units, the Bank-Escrowee shall, upon receipt of the written direction of the Depositor-Agent ("Notice of Rejection"), return funds deposited pursuant to Section 1.2 to such subscribers at their respective addresses provided pursuant to Section 1.2. The Bank-Escrowee shall return such funds without deduction and with interest earned to the date such notice is received by the Bank-Escrowee in accordance with Section 3.4.
Rejected Subscription. It is understood that the Company shall have the right to refuse or reject any request to purchase Warrants by a prospective Investor ("Purchase Form"), in whole or in part, for any reason whatsoever, and to promptly direct the Escrow Agent to return all funds, without interest, received by the Escrow Agent to the applicable Investor. Additionally, in the event Purchase Forms are received to purchase more Warrants than are deposited into the Escrow Account for sale, promptly following the Closing occurring immediately before the expiration date of the Warrants, the Escrow Agent shall return all funds deposited into the Escrow Account with respect to such Purchase Forms that are not accepted in whole or in part to the Investor without interest.
Rejected Subscription. Except as provided in paragraph (2) below, that if the Manager elects, in its sole discretion, to reject as a member of the Company a Investing Member whose funds are being held in the Escrow Account for any reason or for no reason (even if such Investing Member’s I-526 Petition has been approved),
(i) the Subscription Proceeds deposited into the Escrow Account will be returned to the Investing Member’s account from which such Subscription Proceeds originated and (ii) the Manager shall return the Administrative Fee to the Investing Member.