Subscription Account Sample Clauses

Subscription Account. Subscriptions received after the activation of the Partnership will be deposited into a subscription account at a federally insured commercial bank or other depository and invested in short-term certificates of deposit, a money market or other liquid asset account. Prospective investors whose subscriptions are accepted will be admitted into the Partnership only when their subscription funds are required by the Partnership to fund a Mortgage Investment, or the Formation Loan, to create appropriate reserves or to pay organizational expenses or other proper Partnership purposes. During the period prior to admittance of investors as Limited Partners, proceeds from the sale of Units are irrevocable, and will be held by the General Partners for the account of Limited Partners in the subscription account. Investors' funds will be transferred from the subscription account into the Partnership on a first-in, first-out basis. Upon admission to the Partnership, subscription funds will be released to the Partnership and Units will be issued at the rate of $100 per unit or fraction thereof. Interest earned on subscription funds while in the subscription account will be returned to the subscriber, or if the subscriber elects to compound earnings, the amount equal to such interest will be added to his investment in the Partnership, and the number of Units actually issued shall be increased accordingly. In the event only a portion of a subscribing Limited Partner's funds are required, then all funds invested by such subscribing Limited Partners at the same time shall be transferred. Any subscription funds remaining in the subscription account after the expiration of one (1) year from the date any such subscription funds were first received by the General Partners shall be returned to the subscriber.
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Subscription Account. Subscriptions received after the Minimum Offering will be deposited into a subscription account at a federally insured commercial bank or other depository (the “Subscription Account”) and invested in short-term certificates of deposit, a money market or other liquid asset account. No asset management fees (as described in Section 11.5) shall be payable on or with respect to any funds held in the Subscription Account. During the period prior to admittance of investors as Members, proceeds from the sale of Units are irrevocable, and will be held by the Managers for the account of Members in the Subscription Account. Investors’ funds will be transferred from the Subscription Account into the Company on a first-in, first-out basis. Upon admission to the Company, subscription funds will be released to the Company and Units (which may include fractional Units) will be issued at the rate of $1 per Unit. Interest earned on subscription funds while in the Subscription Account will be returned to the subscriber.
Subscription Account. Subscription Account has the meaning as set forth in Section 4.2.
Subscription Account. 24.1 CREDITING THE SUBSCRIPTION ACCOUNT While the Annual Schedule is being devised, the Shipper's Subscription Account shall be credited with: o the difference between the Number of Contractual Unloadings and the number of Unloadings scheduled by the Shipper, and; o the difference between the Contractual Unloaded Quantity and the sum of Energy Content in the Unloadings scheduled by the Shipper. At any point between the Operator's publication of the Annual Schedule for Year N and the twentieth (20) calendar day of a given Month M-2, the Shipper may remove from its Annual Schedule all or part of the Cargo Transfers or Energy Content scheduled for Unloading in Month M. This capacity shall then be credited to the Shipper's Subscription Account. The Subscription Account shall be automatically reset at the end of every Year.
Subscription Account. Subscriptions will be deposited into a subscription account at a federally insured commercial bank or other depository (the “Subscription Account”) and invested in short-term certificates of deposit, a money market or other liquid asset account. No Asset Management Fees (as described in Section 11.5) shall be payable on or with respect to any funds held in the Subscription Account. During the period prior to admittance of investors as Members, proceeds from the sale of Units are irrevocable, and will be held by the Managers for the account of Members in the Subscription Account. Interest earned on subscription funds while in the Subscription Account will be returned to the subscriber.
Subscription Account. The Subscription Account is credited with the Unloadings not scheduled or cancelled with sufficient notice, as detailed below. This account can then be debited to schedule short term operations. The following methods apply: o The use of the Subscription Account does not lead to modification of the Shipper's minimum payment obligations; o The Subscription Account can never be negative; o The Subscription Account is automatically reset to zero at the end of each calendar year; o The numbers of Unloadings and the quantities contained in the Subscription Account may be assigned in accordance with article 28 of the General Terms and Conditions.
Subscription Account. Borrower shall establish and maintain with Administrative Agent the Subscription Account into which all Capital Contributions contributed by the Investors shall be deposited and maintained until application of same in accordance with Section 11.01.
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Subscription Account. (i) In order to secure further the performance by the Investor REIT of the Investor REIT Obligations and to effect and facilitate the right of the Secured Parties to offset while any Obligations are outstanding, (A) the Investor REIT hereby irrevocably appoints the Agent as subscription agent and the sole party entitled in the name of the Investor REIT, upon the occurrence and during the continuance of an Event of Default, to make any Capital Calls upon the Investors pursuant to the terms of the Subscription Agreements or the Investor REIT's Constituent Documents, and (B) the Investor REIT shall direct each Investor to wire transfer to the Subscription Account all monies or sums paid or to be paid by such Investor to the Investor REIT to fund such Investor's Capital Commitment as and when such Investor is required pursuant to its Subscription Agreement or the Investor REIT's Constituent Documents to fund such Capital Commitment. In addition, to the extent that the Investor REIT receives any payments of Capital Contributions from the Investors during the term of this Agreement, it shall immediately deposit such payments upon receipt into the Subscription Account.
Subscription Account. The Investor REIT shall establish and maintain with the Agent the Subscription Account into which all Capital Contributions contributed by the Investors shall be deposited and maintained until application of the same in accordance with Section 2.19 and the Cash Collateral Agreement.
Subscription Account. Subscriptions received after the Minimum Offering will be deposited into a subscription account at a federally insured commercial bank or other depository (the “Subscription Account”) and invested in short-term certificates of deposit, a money market or other liquid asset account. Prospective investors whose subscriptions are accepted will be admitted into the Company only when their subscription funds are required by the Company to fund a Loan, or the Formation Loan, to create appropriate reserves or to pay organizational expenses or other proper Company purposes. No asset management fees (as described in Section 11.5) shall be payable on or with respect to any funds held in the Subscription Account. During the period prior to admittance of investors as Members, proceeds from the sale of Units are irrevocable, and will be held by the Managers for the account of Members in the Subscription Account. Investors’ funds will be transferred from the Subscription Account into the Company on a first-in, first-out basis. Upon admission to the Company, subscription funds will be released to the Company and Units will be issued at the rate of $1 per Unit or fraction thereof. Interest earned on subscription funds while in the Subscription Account will be returned to the subscriber. In the event only a portion of a subscribing Member’s funds are required, then all funds invested by such subscribing Members at the same time shall be transferred. Any subscription funds remaining in the Subscription Account after the expiration of one (1) year from the date any such subscription funds were first received by the Managers shall be returned to the subscriber.
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