#ESCROW IOTA ACCOUNT PROFESSIONAL#
Since it is difficult to try to encompass all the different types of situations on this page, please contact us directly for our professional synopsis. I have never produced a 3-way reconciliation before, will I be able to now? Yes, however, QuickBooks must be set up correctly at the beginning I Use Quickbooks, Can A 3-way Reconciliation Be Produced?
#ESCROW IOTA ACCOUNT TRIAL#
THEREFORE, the parties to this agreement intending to be legally bound have executed this document on the date set forth above.A 3-way reconciliation brings the book balance, adjusted bank balance, and Trial Balance into agreement and accounts for each cent. The laws of the State of Arizona shall apply to this agreement. This agreement is entered into for the express benefit of the Issuer. The parties hereto agree and acknowledge that the Escrow Agents attorney fees and expenses may be taken out of the funds that were placed in the registry of the court and the parties grant the Escrow Agent a security interest and lien on the funds to secure its costs in the event the funds are interpleaded into the court. In the event of any reasonable uncertainty or any dispute with respect to the proper disposition of the funds, the Escrow Agent may interplead the funds into the registry of the court and recover its reasonable attorneys fees from the parties to this agreement. The agents name shall not be used in any way that may imply an association with any of the parties to this agreement other than that of escrow agent. The fact that the Escrow Agent has agreed to perform the limited function of escrow agent stated in this agreement does not mean that the agent has passed upon the merits of, or recommended, or given advice to any person regarding the business or legal merits of, the Offering of Securities contemplated in this agreement.
Other than establishing and maintaining this Escrow Account and complying with agreement, the Escrow Agent shall have no further liability or responsibility.
Thereafter this agreement shall terminate. Escrow agent shall receive a fee of five hundred ($500.00) dollars to be paid by the Issuer.Įscrow Agent shall continue to receive such funds and perform such disbursements until either the Maximum Offering is achieved or instructed to cease by the Issuer whichever event happens first. Upon the receipt of the funds amounting to the Minimum Offering, the Escrow Agent shall disburse such funds to the Issuer and disburse the Securities purchased as instructed to the parties designated by the Investors for receipt. If the Minimum Offering is not achieved, the funds received from Investors and deposited in the IOLTA account shall be refunded. The Escrow Agent shall not be required to accept for deposit into the IOLTA account any funds which are not accompanied by the appropriate Subscription Information. Doran Trust Account fbo White Dental Supply, Inc. All proceeds shall be payable to William F. NOW, Therefore, the parties to this agreement, in reliance upon the covenants and promises of each other, mutually agree to the following terms and conditions, which shall regulate the use of the funds placed in this account.Īll funds received from the Investors shall promptly be deposited in the IOLTA account. WHEREAS Investor funds will be deposited in Escrow Agents Attorney Trust Account (IOLTA account), WHEREAS the Issuer proposes to offer on a best efforts basis (the Offer), a minimum of $35,000.00 (the Minimum Offering) and $150,000.00 Maximum Offering) of the Issuers Common Stock (the Security) in to prospective Investors, in several transactions and the parties have agreed that Escrow Agent shall hold all certificates representing said securities until the Minimum Offering has been achieved and been paid to the Escrow Agent who shall then hold the securities and the funds received until all prerequisites and conditions to disbursement have occurred, and This escrow agreement is executed on the 12 th day of January 2007 and is between White Dental Supply, Inc., (the Issuer) and William F.
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