Common use of Escrowed Funds Clause in Contracts

Escrowed Funds. Upon receipt of the Escrowed Funds, the Escrow Agent shall hold the Escrowed Funds in the Escrow Account pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Funds shall be deposited by the Escrow Agent in an interest bearing account or as may otherwise be directed by the Corporation in writing. In the absence of written direction from the Corporation, the Escrow Agent shall invest and reinvest Escrowed Funds only in UMB Money Market Special Fund, a bank money market account. The Escrow Agent shall be entitled to sell or redeem any investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Income, if any, resulting from any investment of the Escrowed Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreement.

Escrowed Funds. Upon receipt of the Escrowed Funds, the Escrow Agent shall hold the Escrowed Funds in the Escrow Account escrow pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Funds shall be deposited by the Escrow Agent in an interest bearing account or as may otherwise be directed by the Corporation in writing. In the absence of written direction from the Corporation, the Escrow Agent shall invest and reinvest Escrowed Funds only funds in UMB Money Market Special Fund, a bank money market account. The Escrow Agent shall be entitled to sell or redeem any investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Income, if any, resulting from any investment of the Escrowed Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreement.

Escrowed Funds. Upon receipt of the Escrowed Funds, the Escrow Agent shall hold the Escrowed Funds in the Escrow Account pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Funds shall be deposited by the Escrow Agent in an interest bearing account or as may otherwise be directed by the Corporation Company in writing. In the absence of written direction from the CorporationCompany, the Escrow Agent shall invest and reinvest Escrowed Funds only in UMB Money Market Special Fund, a bank money market account. The Escrow Agent shall be entitled to sell or redeem any investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Income, if any, resulting from any investment of the Escrowed Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreement.

Escrowed Funds. Upon receipt of the Escrowed Funds, the Escrow Agent shall hold the Escrowed Funds in the Escrow Account escrow pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Funds shall be deposited invested and reinvested by the Escrow Agent in an interest bearing account or as may otherwise be directed by the Corporation in writing. In the absence of written direction from the Corporationbank accounts, the Escrow Agent shall invest and reinvest Escrowed Funds only in UMB Money Market Special Fund, a bank money market accountaccounts, short-term certificates of deposit issued by a bank; and short-term securities issued or guaranteed by the U.S. government. The Escrow Agent shall be entitled to sell or redeem any such investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Income, if any, resulting from any the investment of the Escrowed Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company) on the account balance in the Escrow Account and the activity in the account since the last report.

Escrowed Funds. Upon receipt of the Escrowed Subscriber Funds, the Escrow Agent shall hold the Escrowed Funds in the Escrow Account escrow pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Subscriber Funds shall be deposited invested and reinvested by the Escrow Agent as directed in writing by the Company in an interest interest-bearing account or as may bank money market account. Until otherwise be directed by the Corporation in writing. In the absence of written direction from the CorporationCompany, the Escrow Agent Subscriber Funds shall invest and reinvest Escrowed Funds only be invested in UMB Money Market Special FundSpecial, a UMB bank money market account. The Escrow Agent shall be entitled to sell or redeem any such investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Income, if any, resulting from any the investment of the Escrowed Subscriber Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreementas directed by the Company after delivery of the Break Escrow Letter or after delivery of notice by the Company that it is terminating the Offering.

Escrowed Funds. Upon receipt of the Escrowed Funds, the Escrow Agent shall hold the Escrowed Funds in the Escrow Account escrow pursuant to the terms of this Agreement. Until such time as the Escrowed Funds shall be distributed by the Escrow Agent as provided herein, the Escrowed Funds shall be deposited by the Escrow Agent in an interest bearing account or as may otherwise be directed by the Corporation Company in writing. In the absence of written direction from the CorporationCompany, the Escrow Agent shall invest and reinvest Escrowed Funds only funds in the UMB Money Market Special Fund, a bank money market account. The Escrow Agent shall be entitled to sell or redeem any investment of the Escrowed Funds as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Income, if any, resulting from any investment of the Escrowed Funds shall be retained by the Escrow Agent, and shall be distributed according to this Agreement.