Common use of Rejected Subscriptions Clause in Contracts

Rejected Subscriptions. In the event the Escrow Agent receives written notice from the Company or the Dealer Manager that the Company or Dealer Manager has rejected a Subscriber’s subscription, the Escrow Agent shall pay to the applicable Subscriber, within ten (10) business days after receiving notice of the rejection, by first class United States Mail at the address appearing on the List of Subscribers, or at such other address or wire instructions as are furnished to the Escrow Agent by the Subscriber in writing, all collected sums paid by the Subscriber for Shares and received by the Escrow Agent, together with all interest earned thereon; provided the Escrow Agent shall have no obligation to return funds to any Subscriber until after it has received an executed and valid IRS Form W-9 executed by the Subscriber.