Common use of Escrow Account Statement Clause in Contracts

Escrow Account Statement. Each month, the Escrow Agent shall deliver to the Company and the Trustee a statement of the Escrow Agent in a form satisfactory to the Company and the Trustee setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds have been and are invested (the "Escrow Account State- 7 -7- ment"). The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all Marketable Securities) is reduced to zero, the Escrow Agent shall deliver to the Company and to the Trustee a written notice that the balance in the Escrow Account has been reduced to zero.

Escrow Account Statement. Each month, the Escrow Agent shall deliver to the Company Note Issuers and the Trustee a statement of signed by the Escrow Agent in a form reasonably satisfactory to the Company Note Issuers and the Trustee setting forth with reasonable particularity the balance of funds then in the Escrow Account and the manner in which such funds have been and are invested (the an "Escrow Account State- 7 -7- mentStatement"). The parties hereto irrevocably instruct the Escrow Agent that on the first date upon which the balance in the Escrow Account (including the holdings of all Marketable SecuritiesCash Equivalents) is reduced to zero, the Escrow Agent shall deliver to the Company Note Issuers and to the Trustee a written notice that the balance in the Escrow Account has been reduced to zero.