Escrowed Funds. (a) Upon receipt of funds from subscribers to the Offering, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested and reinvested in bank accounts or bank money market accounts permitted under Rule 15c2-4 of the Securities Exchange Act of 1934, as amended, at the direction of the Company. All funds in the Escrow Account shall at all times be placed in interest-bearing accounts.
Appears in 6 contracts
Samples: Escrow Agreement (CNL Healthcare Properties II, Inc.), Form of Escrow Agreement (CNL Healthcare Properties II, Inc.), Escrow Agreement (KBS Strategic Opportunity REIT II, Inc.)
Escrowed Funds. (a) Upon receipt of funds from subscribers to the Offering, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested and reinvested in bank accounts or bank money market accounts permitted under Rule 15c2-4 of the Securities Exchange Act of 1934, as amended, at the direction of the Company. All funds in the Escrow Account shall at all times be placed in interest-bearing accountsa trust account.
Appears in 2 contracts
Samples: Escrow Agreement (Plymouth Opportunity REIT Inc.), Escrow Agreement (Plymouth Opportunity REIT Inc.)
Escrowed Funds. (a) Upon receipt of funds from subscribers to the OfferingSubscribers, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested and reinvested in bank accounts or UMB Money Market Special, a bank money market accounts account permitted under Rule 15c2-4 of the Securities Exchange Act of 1934, as amended, at the direction of the Company. All funds in the Escrow Account shall at all times be placed in interest-bearing accounts.
Appears in 2 contracts
Samples: Escrow Agreement (Mercer Island Investors Group, Inc.), Escrow Agreement (KBS Growth & Income REIT, Inc.)
Escrowed Funds. (a) Upon receipt of funds from subscribers Benefit Plan Investors subscribing to purchase Class T Shares pursuant to the Offering, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested and reinvested in bank accounts or UMB Money Market Special, a bank money market accounts account permitted under Rule 15c2-4 of the Securities Exchange Act of 1934, as amended, at the direction of the Company. All funds in the Escrow Account shall at all times be placed in interest-bearing accounts.
Appears in 1 contract
Samples: Escrow Agreement (KBS Strategic Opportunity REIT II, Inc.)
