Common use of Investment of Escrow Account Clause in Contracts

Investment of Escrow Account. The Escrow Agent shall deposit all subscription funds it receives in the Escrow Account, which shall be a non-interest-bearing bank account at SunTrust Bank. The Escrow Funds in the Escrow Account shall not be invested. The Underwriter and CBHI each warrant to and agree with the Escrow Agent that, unless otherwise expressly set forth in this Agreement, there is no security interest in the Escrow Account; no financing statement under the Uniform Commercial Code of any jurisdiction is on file in any jurisdiction claiming a security interest in or describing, whether specifically or generally, the Escrow Account; and the Escrow Agent shall have no responsibility at any time to ascertain whether or not any security interest exists in the Escrow Account or to file any financing statement under the Uniform Commercial Code of any jurisdiction with respect to the Escrow Account.

Investment of Escrow Account. The Escrow Agent shall deposit all subscription funds it receives in the Escrow Account, which shall be a non-interest-bearing bank account at SunTrust BankEscrow Agent. The Escrow Funds in the Escrow Account shall not be invested. The Underwriter and CBHI OGDEN GOLF each warrant to and agree with the Escrow Agent that, unless otherwise expressly set forth in this Agreement, there is no security interest in the Escrow Account; no financing statement under the Uniform Commercial Code of any jurisdiction is on file in any jurisdiction claiming a security interest in or describing, whether specifically or generally, the Escrow Account; and the Escrow Agent shall have no responsibility at any time to ascertain whether or not any security interest exists in the Escrow Account or to file any financing statement under the Uniform Commercial Code of any jurisdiction with respect to the Escrow Account.

Investment of Escrow Account. The Escrow Agent shall deposit all subscription funds it receives in the Escrow Account, which shall be a non-interest-bearing bank account at SunTrust BankEscrow Agent. The Escrow Funds in the Escrow Account shall not be invested. The Underwriter and CBHI SKYPATH each warrant to and agree with the Escrow Agent that, unless otherwise expressly set forth in this Agreement, there is no security interest in the Escrow Account; no financing statement under the Uniform Commercial Code of any jurisdiction is on file in any jurisdiction claiming a security interest in or describing, whether specifically or generally, the Escrow Account; and the Escrow Agent shall have no responsibility at any time to ascertain whether or not any security interest exists in the Escrow Account or to file any financing statement under the Uniform Commercial Code of any jurisdiction with respect to the Escrow Account.