Investment of Escrow Account. The Escrow Funds shall be credited by Escrow Agent and recorded in the Escrow Account. The Escrow Agent shall be permitted, and is hereby authorized to deposit, transfer, hold and invest all funds received under this Agreement, including principal and interest, in an institutional money market account. Any interest received by Escrow Agent with respect to the Escrow Funds shall be paid to GFCEP on the termination of the escrow only in accordance with Section 7D below.
Appears in 2 contracts
Samples: Escrow Agreement (Granite Falls Community Ethanol Plant LLC), Escrow Agreement (Granite Falls Community Ethanol Plant LLC)
Investment of Escrow Account. The Escrow Funds shall be credited by Escrow Agent and recorded in the Escrow Account. The Escrow Agent shall be permitted, and is hereby authorized to deposit, transfer, hold and invest all funds received under this Agreement, including principal and interest, in an institutional money market account. Any interest received by Escrow Agent with respect to the Escrow Funds shall be paid to GFCEP on the termination of the escrow only in accordance with Section 7D belowescrow.
Appears in 1 contract
Samples: Escrow Agreement (Granite Falls Community Ethanol Plant LLC)
Investment of Escrow Account. The Escrow Funds shall be credited by Escrow Agent and recorded in the Escrow Account. The Escrow Agent shall be permitted, and is hereby authorized to deposit, transfer, hold and invest all funds received under this Agreement, including principal and interest, in an institutional money market account. Any interest received by Escrow Agent with respect to the Escrow Funds shall be paid to GFCEP on the termination of the escrow only in accordance with Section 7D 7C below.
Appears in 1 contract
Samples: Amended Escrow Agreement (Granite Falls Community Ethanol Plant LLC)
