Common use of Distribution of the Escrow Property Clause in Contracts

Distribution of the Escrow Property. Escrow Agent will hold the Escrow Property in its possession and disburse the Escrow Property or any specified portion thereof only as follows: (a) Upon written instructions, at each closing of each offering of Fund shares, the Escrow Agent will wire principal balances on deposit in the Escrow Account to the custody account of the Fund. However, if the Fund does not accept the subscription of a Potential Investor, then the principal amount of such Potential Investor’s subscription shall be returned without interest to such Potential Investor upon written instructions from Fund or Advisor in the amount of the principal balance specified in such written instructions, by check or wire transfer sent to the address or account of the Potential Investor included in such written instructions and the Escrow Agent is not responsible for any errors in such address or wire instructions provided by the Fund or the Advisor. Such written instructions shall be sent to the Escrow Agent by 2:00 p.m. Eastern time on the closing date with respect to each closing. (b) Except as otherwise set forth herein, all payments of the Escrow Property will be effected by wire transfer in immediately available funds.