Establishment of the Escrow Account. 2.1 The Issuer shall establish a non-interest-bearing Escrow Account at the Escrow Agent. The purpose of the Escrow Account is for (a) the deposit of all subscription funds (checks, cash or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent; (b) the holding of amounts of subscription funds which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.
Establishment of the Escrow Account. On or prior to the date of ----------------------------------- commencement of the Offering, the parties shall establish a non-interest-bearing account with the Escrow Agent, which escrow account shall be entitled "Commonwealth Bankshares Capital Trust I, Escrow Account" (the "Escrow Account"). The Underwriter shall make, and shall instruct purchasers and Selected Dealers to make payment for the Preferred Securities by wire transfer of immediately available funds as follows:
Establishment of the Escrow Account. 2.1 The Issuer shall initially establish a non-interest bearing Escrow Account at the Escrow Agent. The purpose of the Escrow Account is for (a) the deposit of all subscription funds (checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent; (b) the holding of amounts of subscription funds which are collected through the banking system; and (c) the disbursement of collected funds, all as described herein. The Escrow Agent will hold all monies and other property in the Escrow Account free from any lien, claim or offset, except as set forth herein, and such monies and other property shall not become the property of the Company, nor subject to the debts thereof, unless the conditions set forth in these instructions to disbursement of such monies to the Company have been fully satisfied.
Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a non-interest-bearing account with the Escrow Agent, which escrow account is entitled “Homeowners Choice, Inc. Preferred Offering Escrow Account” (the “Escrow Account”). The Placement Agent will transfer funds directly to the Escrow Agent as directed by its customers and will instruct other purchasers of the Shares to make checks payable to “SunTrust Bank – Homeowners Choice, Inc. Preferred Offering Escrow Account.”
Establishment of the Escrow Account. Contemporaneously herewith, the Parties have established a non-interest-bearing account with the Escrow Agent, which escrow account is entitled “Sxxxxx Online Entertainment Limited IPO Escrow Account” (the “Escrow Account”). The subscribers will transfer funds directly to the Escrow Account or make checks payable to the Escrow Agent for deposit into the Escrow Account. The Escrow Agent agrees to hold all funds (the “Funds”) so deposited in the Escrow Account for the benefit of the Parties and subscribers until authorized to disburse such Funds under the terms of this Agreement.
Establishment of the Escrow Account. 1.1 The parties hereto shall establish a non-interest-bearing, bank escrow account at the office of the Escrow Agent located at 000 Xxxx Xxxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx (the "Escrow Account"). The name of the Escrow Account shall be "Harbor National Bank as Escrow Agent for Network Printing Solutions, Inc.," The Issuer will instruct subscribers to make checks for subscriptions payable to the order of "Harbor National Bank as Escrow Agent for Network Printing Solutions, Inc." or to the order of the Escrow Agent or the Issuer, with reference to the account number of the Escrow Account. Any checks received that are made payable to a party other than the Escrow Agent or the Issuer, shall be returned to the subscriber who submitted the check.
Establishment of the Escrow Account. (a) On the Closing Date, Founder agrees to deliver or shall cause to be delivered to the Escrow Agent pursuant to Section 2.2 of the Purchase Agreement certificate or certificates with signed stock power or stock powers evidencing in the aggregate [__________] Common Shares (the “Escrow Shares”).
Establishment of the Escrow Account. 2.1 The Issuer shall establish a non-interest-bearing Escrow Account maintained by the Escrow Agent. The purpose of the Escrow Account is for (a) the deposit of all subscription funds (checks, drafts or money orders ) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent; (b) the holding of amounts of subscription funds which are collected through the banking system, (c) the holding of securities issued in connection with the offering, and (d) the disbursement of collected funds and securities, all as described herein.
Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a non-interest-bearing escrow account with the Escrow Agent, which escrow account is entitled “LM Funding America Escrow Account” (the “Escrow Account”). Payment for the Units may be made (i) by check, bank draft or money order made payable to “SunTrust Bank, as Escrow Agent for–LM Funding America, Inc.and delivered to the Sales Agent no less than four Business Days before the Closing Date (as defined below), IAA will cause the Sales Agent to transfer these funds directly to the Escrow Agent (“Monies Delivered”), (ii) by authorization of withdrawal from securities accounts maintained with the Sales Agent, or (iii) by wire transfer to the Escrow Agent pursuant to the instructions set forth on Exhibit “C”. If payment is made by authorization of withdrawal from securities accounts, the funds authorized to be withdrawn from a securities account will continue to accrue interest while held in the securities account, if any interest is to accrue on such amounts, at the contractual rates until closing or termination of the Offering (“Monies Authorized”). No interest will accrue on any Monies Authorized which are delivered to the Escrow Agent for deposit in the Escrow Account. If a purchaser authorizes the Sales Agent to withdraw the amount of the purchase price from a securities account, IAA will cause the Sales Agent to deliver the Monies Authorized to the Escrow Agent for deposit in the Escrow Account by 2:00 PM eastern daylight savings time on the Closing Date. Any check received which is made payable to any party other than the Escrow
Establishment of the Escrow Account. On the Closing Date, the Adjustment Escrow Amount and the Indemnification Escrow Amount (collectively, the "Escrow Funds") shall be deposited with the Agent in a separate escrow account (the "Escrow Account") as set forth in the Purchase Agreement. The parties hereto agree that the Agent is serving solely as escrow agent and does not, and will not, own or have any interest in the Escrow Funds, having only possession of the Escrow Funds. The parties hereto intend that the Escrow Account be treated for tax purposes as a grantor trust to which the [Seller/Buyer] has transferred the Escrow Funds. Accordingly, the parties hereto agree that for tax purposes they will treat the [Seller/Buyer] as the owner of the Escrow Funds.
