Common use of Subscription Payments Clause in Contracts

Subscription Payments. (a) Payments received by us or you for subscriptions shall be made payable to “First Security Bank, N.A., Escrow Agent for Crown Exploration Fund I, L.P.” (b) You shall transfer all such funds to the escrow agent by noon of the next business day after receipt by you for deposit in escrow in accordance with the Prospectus. In the event that the Minimum Offering is not achieved on or before the Termination Date, all funds held in the escrow account shall, within 10 days after the Termination Date for the Offering, be returned directly to the respective subscribers, together with a pro rata share of any interest earned thereon. In the event the Minimum Offering is achieved on or before the Termination Date, all funds held in the escrow account attributable to subscribers whose subscriptions for the Partnership are rejected by Crown, together with any interest earned thereon, shall, within 10 days after the filing of the Certificate of Limited Partnership, be returned to such subscribers.

Subscription Payments. (a) Payments received by us or you for subscriptions shall be made payable to “First Security Bank, N.A., Escrow Agent for "Crown Exploration Energy Fund I, L.P.”L.P. Escrow Account" (b) You shall transfer all such funds to us by noon of the next business day after their receipt by you so that we may transfer them to the escrow agent by noon of the next business day after their receipt by you us for deposit in escrow in accordance with the Prospectus. In the event that the Minimum Offering is not achieved on or before the Termination Date, all funds held in the escrow account shall, within 10 days after the Termination Date for the Offering, be returned directly to the respective subscribers, together with a pro rata share of any interest earned thereon. In the event the Minimum Offering is achieved on or before the Termination Date, all funds held in the escrow account attributable to subscribers whose subscriptions for the Partnership are rejected by Crown, together with any interest earned thereon, shall, within 10 days after the filing of the Certificate of Limited Partnership, be returned to such subscribers.