Investment of Funds. The Escrow Agent shall invest the monies in the Escrow Amount in an interest bearing bank account with, or certificates of deposit or time deposits with, maturities of no more than thirty (30) days issued by, a domestic commercial bank or such other bank or other financial institution as it normally holds such funds.
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Samples: Escrow Agreement (IGIA, Inc.), Escrow Agreement (IGIA, Inc.), Escrow Agreement (IGIA, Inc.)
Investment of Funds. The Escrow Agent shall invest the monies in the Escrow Amount in an interest bearing bank account with, or certificates of deposit or time deposits with, with maturities of no more than thirty (30) days issued by, a domestic commercial bank or such other bank or other financial institution as it normally holds such funds.
Appears in 5 contracts
Samples: Common Stock Purchase Agreement (Flightserv Com), Escrow Agreement (Xybernaut Corp), Escrow Agreement (Xybernaut Corp)
Investment of Funds. The Escrow Agent shall invest the monies held in the Escrow Amount escrow in an interest bearing bank account with, or certificates of deposit or time deposits with, with maturities of no more than thirty (30) days days, issued by, by a domestic commercial bank or such other bank or other financial institution as it normally holds such funds. The disbursement of the interest shall be governed by Section 4 hereof.
Appears in 2 contracts
Samples: Purchase Agreement (Sassower Philip S), Purchase Agreement (JLM Industries Inc)
Investment of Funds. The Escrow Agent shall invest the monies in the Escrow Amount in an interest bearing bank account with, or certificates of deposit or time deposits with, with maturities of no more than thirty (30) days issued by, a domestic commercial bank or such other bank or other financial institution as it normally holds such fundsfinds.
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Investment of Funds. The Escrow Agent shall invest the monies in the Escrow Amount in an interest bearing bank account with, or certificates of deposit or time deposits with, maturities of no more than thirty (30) days issued by, a domestic commercial bank or such other bank or other financial institution as it normally holds such funds.
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