Investment of Secondary Escrow Funds Sample Clauses

Investment of Secondary Escrow Funds. During the term of this Agreement, the Secondary Escrow Funds in the Secondary Escrow Account shall be held in one or more demand deposit accounts and invested and reinvested in an interest bearing demand deposit account at JPMorgan Chase Bank, N.A. or a successor investment offered by Escrow Agent, unless otherwise instructed in writing by Representative. An interest bearing demand deposit account has rates of interest or compensation that may vary from time to time as determined by Escrow Agent. Instructions to make an Alternative Investment must be in writing executed by Representative and shall specify the type and identity of the investments to be purchased and/or sold. Escrow Agent is hereby authorized to execute purchases and sales of investments through the facilities of its own trading or capital markets operations or those of any affiliated entity. Escrow Agent or any of its affiliates may receive reasonable compensation with respect to any Alternative Investment directed hereunder, including charging any applicable reasonable and customary agency fee or transaction fee in connection with each transaction. Representative recognizes and agrees that Escrow Agent will not provide supervision, recommendations or advice relating to either the investment of moneys held in the Secondary Escrow Account or the purchase, sale, retention or other disposition of any investment described herein. Market values, exchange rates and other valuation information (including market value, current value or notional value) of any Alternative Investment furnished in any report or statement may be obtained from third party sources and is furnished for the exclusive use of Representative. Escrow Agent has no responsibility whatsoever to determine the market or other value of any Alternative Investment and makes no representation or warranty, express or implied, as to the accuracy of any such valuations or that any values necessarily reflect the proceeds that may be received on the sale of an Alternative Investment.