Subscription Proceeds. The Company agrees that it shall deliver to the Escrow Agent via insured overnight mail, courier or by similar acceptable means, immediately upon receipt thereof, all subscription proceeds from the subscription for Units in the Offering, together with a copy of each such subscriber's completed and executed Subscription Agreement. The Company will instruct subscribers to make checks for Unit subscriptions payable to the order of the Escrow Agent. Any checks received by the Escrow Agent that are made payable to a party other than as set forth above shall be returned to the Company for restrictive endorsement by the payee to the Escrow Agent. Upon approval of each subscription by the Company (but not prior thereto), the Escrow Agent is authorized to forward each subscription check received for collection and, upon collection of such check, to immediately deposit the collected proceeds in the Escrow Account.
Subscription Proceeds. All subscription proceeds received and accepted will be deposited directly into the Company’s operating account and following acceptance by the Company hereunder and payment by the Company of its costs and expenses, including organization and Offering expenses and such funds will be used by the Company for general corporate purposes, including salaries. The Company may use proceeds of the Offering immediately upon each Closing.
Subscription Proceeds. All subscription proceeds received pursuant to this Agreement shall be placed into a segregated trust account established by the Company in a financial institution having assets of not less than $1 billion whose accounts are insured by the Federal Deposit Insurance Corporation for the benefit of the Subscribers, and upon acceptance of the subscription and the Initial Closing, such subscription proceeds shall be deposited directly into the Company’s operating account. Following payment by the Company of its costs and expenses, including organization and Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering (“Placement Agent”), such funds will be used by the Company for general working capital purposes. Adamas Convertible Note Purchase Agreement
Subscription Proceeds. 4.2.1 On the Closing Date, the Subscriber shall deposit into a bank account in Hong Kong opened by the Issuer (the “Issuer’s Receiving Account”) in immediately available funds an amount equivalent to the Total Subscription Price less the Transaction Costs (as defined below) as agreed in Clause 11.1 hereof (the “Subscription Proceeds”) and the Subscription Proceeds shall not be paid in cash (i.e. banknotes or coins). The Issuer’s Receiving Account shall be a joint account managed jointly by the Subscriber and the Issuer and shall be opened with a bank approved by the Subscriber, provided that the Issuer shall provide its designated beneficiary bank, beneficiary bank address, bank code, SWIFT Code, account name, account number and other necessary information to the Subscriber in writing not less than five (5) Business Days prior to the Closing Date.
Subscription Proceeds. (A) If (1) a Investing Member’s I-526 Petition has been denied (without appeal or after denial of any appeal) by USCIS and (2) the Subscription Proceeds from such Investing Member still remains in the Escrow Account at such time, then the Escrow Agent shall return to the denied Investing Member identified in the Written Direction of the Manager, all of his or her Subscription Proceeds to the account from which such Subscription Proceeds originated, without deduction or payment of interest.
Subscription Proceeds. All funds received by the Managing Dealer, if any, for the sale of Shares shall be deposited in an account established by the Company at a bank to be selected by the Company (the “Bank”), by the close of the first business day following receipt of such funds by the Managing Dealer. Checks may be made payable to the Company. The Managing Dealer may authorize certain Participating Brokers to instruct their customers to make their checks for Shares subscribed for payable directly to the Participating Broker. In such case, the Participating Broker will collect the proceeds of the subscribers’ checks and issue a check made payable to the order of the Company for the aggregate amount of the subscription proceeds. The Company represents and covenants that it will forward copies of the bank statements to the Managing Dealer on a monthly basis and such other times as reasonably requested by the Managing Dealer.
Subscription Proceeds. All subscription proceeds received pursuant to this Agreement shall be placed into an escrow account, and upon acceptance of the subscription and the Initial Closing, such subscription proceeds shall be deposited directly into the Company’s operating account. Following payment by the Company of its costs and expenses, including organization and Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering (“Placement Agent”), such funds will be used by the Company for general working capital purposes. Adamas One Note Purchase Agreement 1
Subscription Proceeds. All subscriptions shall be deposited in an escrow account at Bank of New York reference: Elite Pharmaceuticals, Inc for the benefit of customers established under Exchange Act Rule 15c2-4 pending the Closing or termination of the Offering. Prior to the Closing or termination of the Offering, the Company will notify the Placement Agent as to which, if any, subscriptions it will not accept; provided that proceeds for subscriptions not accepted will be promptly returned without interest following termination of the Offering. The Company may not accept subscriptions if the aggregate subscription do not equal or exceed $4,000,000 or if the Closing Price is less than $1.40.
Subscription Proceeds. All subscription proceeds received pursuant to this Agreement shall be wired directly to the Company pursuant to the terms of this Agreement. Following payment by the Company of its costs and expenses, including Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering (“Placement Agent”), such funds will be used by the Company to repurchase all of the outstanding secured debt previously issued by the Company (the “Outstanding Notes”). Adamas One Convertible Note Purchase Agreement
Subscription Proceeds. The Trustee shall receive subscription proceeds in respect of the initial public offering of Trust Units of the Fund and hold the same in trust for the subscribers in accordance with a separate agreement to be entered into with respect thereto.
