Common use of Investment of Cash Clause in Contracts

Investment of Cash. The Escrow Agent shall invest cash included in the Escrow Cash Property in The BNY Mellon Cash Reserve. All income from such investment shall be distributed to the Sellers’ Representative upon and in accordance with the written direction of the Sellers’ Representative and shall not constitute Escrow Cash Property. The Escrow Agent will not be liable for any losses resulting from any investment made in accordance with the terms of this Section I.4(b). The Escrow Agent will have the right to liquidate any investments held in accordance with the terms of this Section in order to provide funds necessary to make required payments under this Agreement. The Escrow Agent will not be liable for any loss incurred at such liquidation which is due to fluctuations in market rates, depreciation in the value of the investment or penalties incurred in connection with any such liquidation. In addition, the Escrow Agent shall not be responsible for assuring that the cash is sufficient for the disbursements contemplated hereunder.

Appears in 2 contracts

Samples: Escrow Agreement (Kohlberg Capital CORP), Escrow Agreement (Kohlberg Capital CORP)

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Investment of Cash. The Escrow Agent shall invest cash included in the Escrow Cash Share Property in The BNY Mellon Cash Reserve. All income from such investment shall be distributed to the Sellers’ Representative upon and in accordance with the written direction of the Sellers’ Representative and shall not constitute Escrow Cash Share Property. The Escrow Agent will not be liable for any losses resulting from any investment made in accordance with the terms of this Section I.4(bI.3(f). The Escrow Agent will have the right to liquidate any investments held in accordance with the terms of this Section in order to provide funds necessary to make required payments under this Agreement. The Escrow Agent will not be liable for any loss incurred at such liquidation which is due to fluctuations in market rates, depreciation in the value of the investment or penalties incurred in connection with any such liquidation. In addition, the Escrow Agent shall not be responsible for assuring that the cash is sufficient for the disbursements contemplated hereunder.

Appears in 2 contracts

Samples: Escrow Agreement (Kohlberg Capital CORP), Escrow Agreement (Kohlberg Capital CORP)

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