Common use of Completion of Minimum Offering Clause in Contracts

Completion of Minimum Offering. Escrow Agent shall pay to the Issuer the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than five (5) business days following receipt of the following documents: (1) A Minimum Offering Notice; (2) Subscription Accounting, substantiating the sale of the Minimum Offering Amount; and (3) A W-8 or W-9, and such other certificates, notices or other documents as Escrow Agent shall reasonably require. Notwithstanding the foregoing, Escrow Agent shall not be obligated to disburse the Escrow Funds to Issuer if Escrow Agent has reason to believe that (a) Cash Investment Instruments in full payment for that number of Shares equal to or greater than the Minimum Offering Amount have not been received, deposited with and collected by the Escrow Agent, or (b) any of the certifications set forth in the Minimum Offering Notice are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 6(a), Escrow Agent shall pay to Issuer any additional funds received with respect to the Shares, by certified or bank check or wire transfer, no later than five (5) business days after receipt. Escrow Agent shall not be required to obtain from the Issuer a Subscription Accounting before disbursing funds once the Minimum Offering Amount has been disbursed.

Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, Escrow Agent shall pay to the Issuer the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than five (5) business days following receipt of the following documents: (1) A Minimum Offering Notice; (2) Subscription Accounting, substantiating the sale of the Minimum Offering AmountOffering; and (3) A W-8 or W-9, and such Such other certificates, notices or other documents as Escrow Agent shall reasonably require. Notwithstanding the foregoing, Escrow Agent shall not be obligated to disburse the Escrow Funds to Issuer if Escrow Agent has reason grounds to believe that (a) Cash Investment Instruments in full payment for that number of Shares equal to or greater than the Minimum Offering Amount have not been received, deposited with and collected by the Escrow Agent, or (b) any of the certifications set forth herein or in the Minimum Offering Notice documents described above are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 6(a4(a), this Agreement shall terminate. In the event Escrow Agent receives any additional funds with respect to Shares after such termination, Escrow Agent shall pay such additional funds to Issuer any additional funds received with respect to the Shares, by certified or bank check or wire transfer, no later than five (5) business days after receipt. Escrow Agent shall not be required to obtain from the Issuer a Subscription Accounting before disbursing funds once the Minimum Offering Amount has been disbursed.