Investment and Income. The Escrow Agent shall, pending the disbursement of the Escrowed Funds pursuant to this Agreement, invest the Escrowed Funds in accordance with written instructions of Buyer in (a) direct obligations of, or obligations fully guaranteed by, the United States of America or any agency thereof, (b) certificates of deposit issued by a commercial bank having a combined capital surplus and undivided profits of not less than $100,000,000, (c) money market funds investing solely in any of the above or (d) other investments of equal or greater security as instructed in writing by Buyer.
Investment and Income. After receipt of the Indemnity Fund, the Escrow Agent shall, pending the disbursement of the Indemnity Fund and all interest, income and other earnings with respect thereto (collectively, "Earnings") pursuant to this Agreement, invest the Indemnity Fund in accordance with written instructions of Sellers in (a) direct obligations of, or obligations fully guaranteed by, the United States of America or any agency thereof, (b) certificates of deposit issued by a commercial bank having a combined capital surplus and undivided profits of not less than $100,000,000, (c) money market funds investing solely in any of the above or (d) other investments of equal or greater security as instructed in writing by Sellers.
Investment and Income. Upon receipt of the Adjustment Deposit, the Escrow Agent shall, pending the disbursement thereof pursuant to this Agreement, invest the Adjustment Fund in accordance with the Sellers' instructions in (a) direct obligations of, or obligations fully guaranteed by, the United States of America or any agency thereof, (b) certificates of deposit issued by commercial banks having a combined capital, surplus and undivided profits of not less than Five Hundred Million Dollars ($500,000,000), (c) repurchase agreements collateralized by securities issued by the United States of America or any agency thereof, or by any private corporation the obligations of which are guaranteed by the full faith and credit of the United States of America, (d) prime banker's acceptances, (e) money market funds investing in any of the above, or (f) other investments of equal or greater security and liquidity.
Investment and Income. Pending the disbursement of the Escrowed Assets pursuant to this Escrow Agreement, the Escrow Agent shall invest the Escrowed Assets as directed by the Company in (i) direct obligations of the United States of America or obligations of any agency or instrumentality thereof which mature not later than one year from the date of the acquisition thereof; (ii) money market deposit accounts, checking accounts, savings accounts, or certificates of deposit, or other time deposit accounts which mature not later than one year from the date of acquisition thereof which are issued by a commercial bank or savings institution organized under the laws of the United States of America or any state thereof; or (iii) any other instruments which may be permissible under Revenue Procedure 82-58, as the same may be amended, supplemented or modified. All dividends, interest and other amounts received with respect to Escrowed Assets shall be treated for Federal, state and local tax purposes as having been received by the Company or, upon the establishment of the Trust, by the Trustee for the benefit of the Beneficiaries.
Investment and Income. After receipt of the Escrow Fund, the Escrow Agent shall, pending termination of the Escrow Fund pursuant to Section 2.2 of this Agreement, invest the Escrow Fund in the Fidelity Institutional Government Fund (Fidelity Fund No. 57) and shall reinvest the Escrow Fund upon receipt of written instructions signed by Investor. In no event shall any part of the Escrow Fund be commingled with any other funds held by the Escrow Agent or any of its parents, subsidiaries or affiliates. The Escrow Agent shall pay to the Investor all interest and other earnings and profits upon or in respect of the investment of the Escrow Fund on a monthly basis.
