Common use of Deposits into the Escrow Account Clause in Contracts

Deposits into the Escrow Account. All proceeds delivered to the Escrow Agent pursuant hereto (less amounts permitted to be released to the Company) shall be deposited immediately by the Escrow Agent in the Escrow Account. The Escrow Account shall be created and maintained subject to the customary rules and regulations of the Escrow Agent pertaining to such accounts. In addition, as specified in Rule 419 (b) 3.i., all securities issued in connection with the subject offering shall be deposited directly into the Escrow Account promptly upon issuance. Securities held in the escrow account are to remain as issued and deposited and shall be held for the sole benefit of the purchasers.

Deposits into the Escrow Account. 3.1 All proceeds delivered to the Escrow Agent pursuant hereto (less amounts permitted to be released to the Company) this Agreement shall be deposited immediately by the Escrow Agent in the Escrow Account. The Escrow Account shall be created and maintained subject to the customary rules and regulations of the Escrow Agent pertaining to such accounts. In addition, as specified in Rule 419 (b) 3.i.(3) (i), all securities issued in connection with the subject offering shall be deposited directly into the Escrow Account promptly upon issuance. Securities held in the escrow account are to remain as issued and deposited and shall be held for the sole benefit of the purchasers.