Investment of the Deposit. Escrow Agent shall invest and reinvest the Deposit in the United States Treasury Bills with a maturity of thirty days or less unless otherwise instructed in writing by Party B. Such written instructions, if any, referred to in the foregoing sentence shall specify the type and identity of the investments to be purchased and/or sold and shall also include the name of the broker-dealer, if any, which Party B directs the Escrow Agent to use in respect of such investment, any particular settlement procedures required, if any (which settlement procedures shall be consistent with industry standards and practices), and such other information as Escrow Agent may require. Escrow Agent shall not be liable for failure to invest or reinvest funds absent sufficient written direction. Unless Escrow Agent is otherwise directed in such written instructions, Escrow Agent may use a broker-dealer of its own selection, including a broker-dealer owned by or affiliated with Escrow Agent or any of its affiliates. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder. It is expressly agreed and understood by the parties hereto that Escrow Agent shall not in any way whatsoever be liable for losses on any investments, including, but not limited to, losses from market risks due to premature liquidation or resulting from other actions taken pursuant to this Escrow Agreement.
Investment of the Deposit. Bedford may instruct the Escrow Holder to invest the Deposit in short-term, high-grade securities, interest bearing bank accounts, bank certificates of deposit, or bank repurchase agreements. All interest or other income thereon shall belong to Bedford and shall be remitted to Bedford as and when received by Escrow Holder, irrespective of the disposition of the Deposit itself.
Investment of the Deposit. The parties hereby authorise the Vendor’s Solicitors to:
Investment of the Deposit. Assets maintained in the Escrow Account and investments and reinvestments thereof shall consist only of NAIC 1 or 2 rated securities, provided that such investments are issued by an institution that is not the parent, subsidiary or affiliate of either Seller or Buyer (“Authorized Investments”). If the rating on any securities so invested is downgraded below NAIC 2, then such securities shall be promptly replaced with other NAIC 1 or 2 rated securities having the same face amount as the securities so replaced. The responsibility for directing the Escrow Agent to invest and reinvest the assets in the Escrow Account shall be that of Seller or its affiliates, and the Escrow Agent shall invest and reinvest the assets in the Escrow Account, or any part thereof, in such Authorized Investments as Seller or its affiliates shall direct in writing. Any investment direction by Seller or its affiliates shall constitute certification by Seller to the Escrow Agent that the assets so deposited or to be purchased pursuant to such investment direction or so substituted are Authorized Investments. The Escrow Agent shall not be responsible for determining whether any assets in the Escrow Account are or continue to be Authorized Investments.
Investment of the Deposit. Escrow Agent shall invest and reinvest the Deposit in the VISTA Treasury Plus Money Market Fund, U.S. Government obligations, bank certificates of deposit (up to a maximum insured amount of any such deposit) or repurchase agreements secured by U.S. Government obligations, (individually, an "Investment" and collectively, the "Investments"), as directed in writing by the Other Parties. Absent written instructions from the Other Parties, the Escrow Agent shall invest and reinvest the Deposit in the VISTA Treasury Plus Money Market Fund. Such written instructions, if any, referred to in the foregoing sentence shall specify the type and identity of the investments to be purchased and/or sold and shall also include the name of the broker-dealer, if any, which the Other Parties direct the Escrow Agent to use in respect of such investment, any particular settlement procedures required, if any (which settlement procedures shall be consistent with industry standards and practices), and such other information as Escrow Agent may require. Escrow Agent shall not be liable for failure to invest or reinvest funds absent sufficient written direction. Unless Escrow Agent is otherwise directed in such written instructions, Escrow Agent may use a broker-dealer of its own selection, including a broker-dealer owned by or affiliated with Escrow Agent or any of its affiliates. It is expressly agreed and understood by the parties hereto that Escrow Agent shall not in any way whatsoever be liable for losses on any investments, including, but not limited to, losses from market risks due to premature liquidation or resulting from other actions taken pursuant to this Escrow Agreement. Unless otherwise directed in writing by Seller and Buyer, the Escrow Agent shall not invest all or any portion of the Deposit in any Investment if the maturity date of such Investment is later than March 2, 1999, or in the event this Agreement remains in effect on and after such date, no later than 90 days from the date each such Investment is made.
Investment of the Deposit. The Escrow Agent shall invest the Escrow Amount only in Fidelity Treasury Money Market Fund #77, unless otherwise instructed by Entity. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder. Receipt, investment and reinvestment of the Deposit shall be confirmed by Escrow Agent as soon as practical by account statement, and any discrepancies in any such account statement shall be noted by the Entity to Escrow Agent within 30 calendar days after receipt thereof. Failure to inform Escrow Agent in writing of any discrepancies in any such account statement within said 30day period shall conclusively be deemed confirmation of such account statement in its entirety. For purposes of this paragraph, (a) each account statement shall be deemed to have been received by the party to whom directed on the earlier to occur of (1) actual receipt thereof and (11) three "Business Days" (hereinafter defined) after the deposit thereof in the United States Mail, postage prepaid and (b) the term "Business Day" shall mean any day of the year, excluding Saturday, Sunday and any other day on which national banks are required or authorized to close in Houston, Texas. 6. Disbursement of the Deposit. Escrow Agent is hereby authorized to make disbursements from the Deposit as follows: A. In the event the Escrow Agent does not receive funds totaling at least the Minimum Amount in collected funds prior to the termination of the Escrow Period, the Escrow Agent shall refund to each subscriber the amount received from the subscriber, without deduction, penalty, or expense to the subscriber, together with the subscriber's pro rata share of earnings held in the Escrow Account, and the Escrow Agent shall notify the Entity of such disbursement of the funds. The pro rata share of earnings for each subscriber shall be calculated based on the amount of the subscribers collected funds (as defined below) and the actual number of days such funds are in the Escrow Account based on a 360-day year. The funds so returned to each subscriber shall be free and clear of any and all claims of the Entity or any of its creditors. Escrow Agent will not be responsible for determining the amount to be returned to each Subscriber if applicable. B. In the event (i) the Escrow Agent does receive the Minimum Amount in collected funds and (ii) the Entity confirms that all other conditions and contingencies, if any, pursuant to the Memorandum have been met p...
Investment of the Deposit. (a) The parties authorise the Stakeholder to invest the Deposit on an interest bearing call deposit with an Australian bank. If this document is discharged by Completion any interest earned on the Deposit pending Completion must be paid to the Purchaser. If this document is discharged otherwise than by Completion any interest earned on the Deposit must be paid to the party entitled to receive the Deposit.
Investment of the Deposit. The Escrow Agent shall invest and reinvest the Deposit in the JPMorgan Money Market Account, or in Permitted Investments (as defined below). The Escrow Agent may use a broker-dealer of its own selection, including a broker-dealer owned by or affiliated with the Escrow Agent or any of its affiliates. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder (provided that such compensation shall be disclosed in writing to the Other Parties prior to such investment). The Escrow Agent shall have the right to liquidate any investment held in order to release the Deposit from time to time as provided by this Escrow Agreement. It is expressly agreed and understood by the parties hereto that the Escrow Agent shall not in any way whatsoever be liable for losses on any investments, including, but not limited to, losses from market risks due to premature liquidation or resulting from other actions taken pursuant to and consistent with this Escrow Agreement. For purposes of this Escrow Agreement, “Permitted Investments” shall mean direct obligations of the U.S. government, obligations guaranteed by the U.S. government and money market funds that invest solely in direct obligations of the U.S. government or in obligations guaranteed by the U.S. government. Unless otherwise instructed in writing by Buyer and First Reserve, the Escrow Agent will invest the Deposit in a JPMorgan Money Market Account.
Investment of the Deposit. 17.1 If the Deposit is provided by cheque or in clear funds and the parties so require in writing, pending Settlement the Deposit Holder must invest the Deposit in the joint names of the parties with an ADI at 14-day call at a current rate of interest.
Investment of the Deposit. The Escrow Agent shall invest the Deposit in an income-producing account utilizing investments mutually acceptable to Acquisition Company and Foundation. The Escrow Agent shall cause all interest and other income earned on or with respect to the Deposit to be added to the Deposit. Such deposited interest and other income shall, together with the Deposit, constitute the "Escrow Fund" to be distributed as provided in Section 5 hereof.
