Termination of Escrow. In the event of the release of all Proceeds and all accrued interest in accordance with Section 4 and Section 5 of this Agreement, this Agreement shall terminate and the Escrow Agent shall be relieved of all responsibilities in connection with the escrow deposits provided for in this Agreement, except claims which are occasioned by its gross negligence, bad faith, fraud or willful misconduct.
Termination of Escrow. This Agreement and the Escrow created hereunder shall be terminated as provided in paragraph 7 hereof or as of the date in calendar year 2007 (the “Termination Date”), which is one year and one day following the date in calendar year 2006 upon which the Securities and Exchange Commission authorizes the Offering (the “Offering’s Effective Date”). The Company shall notify Escrow Agent of the Offering’s Effective Date within thirty (30) days of the receipt of notice of the Offering’s Effective Date from the Securities and Exchange Commission.
Termination of Escrow. This Agreement and the Escrow created hereunder shall be terminated as provided in paragraph 8 hereof or as of the date (the “Termination Date”) one year and one day following the date upon which the Securities and Exchange Commission authorizes the Offering (the “Offering’s Effective Date”), provided; however, that if prior to Termination Date, the Company has sold membership units equal to the minimum offering amount and the Company has advised the purchasers of those membership units to remit to the Escrow Agent the balance of the purchase price, then the Escrow may continue beyond the Termination Date until all Funds have been paid and the conditions for releasing the Funds have been satisfied. In no event shall this date be later than three (3) months following the Termination Date. The Company shall notify Escrow Agent of the Offering’s Effective Date within thirty (30) days of the receipt of notice of the Offering’s Effective Date from the Securities and Exchange Commission.
Termination of Escrow. The term of this Escrow Agreement shall begin upon the date hereof and shall continue until terminated upon the earlier to occur of (i) the Xxxxxxx Escrow Shares are fully distributed or (ii) the written agreement of the parties to terminate this Agreement. Upon the termination of this Escrow Agreement pursuant to subsection (ii), the Escrow Agent shall distribute any of the Xxxxxxx Escrow Shares then held by it pursuant to the terms of the written agreement of the parties.
Termination of Escrow. The escrow provided for hereunder shall terminate upon the earlier to occur of the following:
Termination of Escrow. This Agreement shall terminate upon the distribution of all of the Escrow Funds as provided herein.
Termination of Escrow. This Escrow Agreement shall begin upon the date hereof and shall terminate upon the earlier of (i) the conversion of the full amount of the Debentures; (ii) the Expiration Date of the Warrants; or (iii) the Maturity Date of the Debentures. Upon the termination of the Escrow Agreement, the Escrow Agent shall return any unconverted Debenture Escrow Shares to the Company.
Termination of Escrow. Unless sooner terminated pursuant to Section 7 below, this Agreement and the Escrow Account created hereunder shall terminate as of the date, which is one year and one day following the date upon which the Commission authorizes the Offering (the “Offering Effective Date”) or later if the Commission, upon the request of the Company, extends the effectiveness of the Offering beyond the initial one year and one day period of effectiveness (the “Termination Date”); provided, however, that if prior to the Termination Date, the Company has accepted subscriptions for Units equal to the Minimum Escrow Deposit, and the Company has advised the Subscribers for those Units to remit to the Escrow Agent the balance of the purchase price, then the Escrow Account may continue beyond the Termination Date until all amounts payable by such Subscribers have been paid and the conditions for releasing the Escrow Funds have been satisfied. In no event shall this date be later than three (3) months following the Termination Date.
Termination of Escrow. This Escrow Agreement shall terminate and the Escrow Agent shall have no further duties hereunder upon the distribution of all of the Escrow Funds and Escrow Shares.
Termination of Escrow. Upon delivery of the US$ to the Company or the return on the initial deposit to the JV partner less fees and expenses this escrow will be considered closed and Escrow Agent duties terminated.
