Common use of Initial Closing Date Clause in Contracts

Initial Closing Date. The term "Qualifying Subscriptions" shall refer to all subscriptions which have been received by the Managing Member and which the Managing Member intends to accept into the Fund. If Qualifying Subscriptions have been received for at least $3,000,000 of Units on or before the Minimum Offering Termination Date, the Managing Member shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund and to each Participating Broker, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member and the Dealer Manager that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member shall promptly confirm in writing) shall pay to the Fund and each Participating Broker the amounts specified by such notice, and shall additionally pay to the Fund the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.

Initial Closing Date. The term "Qualifying Subscriptions" shall refer to all subscriptions which have been received by the Managing Member Company and which the Managing Member Company intends to accept into the FundCompany. If Qualifying Subscriptions have been received for at least $3,000,000 1,000,000 of Units Shares on or before the Minimum Offering Termination Date, the Managing Member Company shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund Company to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund Company and to each Participating Broker, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member Company and the Dealer Manager that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member Company shall promptly confirm in writing) shall pay to the Fund Company and each Participating Broker the amounts specified by such notice, and shall additionally pay to the Fund Company the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.

Initial Closing Date. The term "Qualifying Subscriptions" shall ---------------------- refer to all subscriptions which have been received by the Managing Member and which the Managing Member intends to accept into the Fund. If Qualifying Subscriptions have been received for at least $3,000,000 of Units on or before the Minimum Offering Termination Date, the Managing Member shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund and to each Participating Broker, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member and the Dealer Manager that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member shall promptly confirm in writing) shall pay to the Fund and each Participating Broker the amounts specified by such notice, and shall additionally pay to the Fund the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.

Initial Closing Date. The term "Qualifying Subscriptions" shall refer to all subscriptions which have been received by the Managing Member and Company, which the Managing Member Company intends to accept into accept, and whose funds have been received by the FundEscrow Agent, have cleared normal banking channels, and are in the form of cash. If Qualifying Subscriptions have been received for at least $3,000,000 of 2,500,000 Units on or before the Minimum Offering Termination Date, the Managing Member Company shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund Company to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund Company and to each Participating Broker, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member Company and the Dealer Manager Underwriter that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member Company shall promptly confirm in writing) shall pay to the Fund Company and each Participating Broker the amounts specified by such notice, and shall additionally pay to the Fund Company the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.

Initial Closing Date. The term "Qualifying Subscriptions" shall --------------------- refer to all subscriptions which have been received by the Managing Member and which the Managing Member intends to accept into the Fund. If Qualifying Subscriptions have been received for at least $3,000,000 of Units on or before the Minimum Offering Termination Date, the Managing Member shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund and to each {Selling Agent} [Participating Broker], respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member and the Dealer Manager that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member shall promptly confirm in writing) shall pay to the Fund and each {Selling Agent} [Participating Broker Broker] the amounts specified by such notice, and shall additionally pay to the Fund the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.

Initial Closing Date. The term "Qualifying Subscriptions" as used herein shall refer to mean all subscriptions which have been received by the Managing Member Telegen and which the Managing Member Telegen intends to accept into the Fundaccept. If Qualifying Subscriptions have been received for at least $3,000,000 of Units 1,971,429 Shares on or before the Minimum Offering Termination Date, the Managing Member Telegen shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund Telegen to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds Funds to be paid to the Fund Telegen and to each Participating BrokerSelling Agent, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from Telegen and the Managing Member and the Dealer Manager that all contingencies for payment have been satisfied as required by SEC Rule 15c2-4 under the Act and NASD Notices to Members 84-64 and 84-7 (which notice the Managing Member Telegen shall promptly confirm in writing) shall pay to the Fund Telegen and each Participating Broker Selling Agent the amounts specified by such notice, and shall additionally pay to the Fund Telegen the interest earned on such Proceeds for disbursement to subscribers Funds pursuant to Section 5 4 hereof.

Initial Closing Date. The term "Qualifying Subscriptions" shall refer to all subscriptions which have been received by the Managing Member and which the Managing Member intends to accept into the Fund. If Qualifying Subscriptions have been received for at least $3,000,000 of Units on or before the Minimum Offering Termination Date, the Managing Member shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "Initial Closing Date" (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund and to each Participating BrokerSelling Agent, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member and the Dealer Manager that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member shall promptly confirm in writing) shall pay to the Fund and each Participating Broker Selling Agent the amounts specified by such notice, and shall additionally pay to the Fund the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.

Initial Closing Date. The term "“Qualifying Subscriptions" ” shall refer to all subscriptions which have been received by the Managing Member and which the Managing Member intends to accept into the Fund. If Qualifying Subscriptions have been received for at least $3,000,000 1,000,000 of Units on or before the Minimum Offering Termination Date, the Managing Member shall notify the Escrow Agent and by instructions (which may accompany such notice or be provided subsequently) given at least 2 business days in advance, shall specify the "“Initial Closing Date" ” (which must be not more than 10 days after the Minimum Offering Termination Date), the approximate amount of Qualifying Subscriptions for the Fund to be accepted as of such Initial Closing Date, the identity of the subscribers whose subscriptions are anticipated to be accepted as of the Initial Closing Date, and the approximate amount of the Proceeds to be paid to the Fund and to each Participating Broker, respectively. On the Initial Closing Date, the Escrow Agent, upon telephonic notice from the Managing Member and the Dealer Manager that all contingencies for payment have been satisfied as required by Rule 15c2-4 under the Act (which notice the Managing Member shall promptly confirm in writing) shall pay to the Fund and each Participating Broker the amounts specified by such notice, and shall additionally pay to the Fund the interest earned on such Proceeds for disbursement to subscribers pursuant to Section 5 hereof.