Common use of Investment of Proceeds Clause in Contracts

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of deposit. The Escrow Agent shall hold such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “Fund”). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of deposit. The Escrow Agent shall hold such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “"Fund”"). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings interest earned thereon), and until such time as all Proceeds and earnings interest earned thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in such obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or in such national or state bank or trust company certificates of deposit. The Escrow Agent , and with such maturities, as shall hold be designated in writing from time to time by the Company, such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred writing to herein as specify the “Fund”)particular investment. Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Deposit Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner Company as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner Company to confirm in writing an instruction given by telephone shall affect effect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of deposit. The Escrow Agent shall hold such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “Fund”). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been bee disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in such obligations issued or guaranteed by the United States Government or any agency thereof, or in such commercial paper, or in such bank or trust company certificates of deposit. The Escrow Agent , and with such maturities, as shall hold be designated in writing fro time to time by the Company, such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred writing to herein as specify the “Fund”)particular investment. Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash ReserveDeposit reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust intrust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner Company as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner Company to confirm in writing an instruction or failure by the Company to confirm in writing an instruction given by telephone shall affect effect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in such obligations issued or guaranteed by the United States Government or any agency thereof, or in such commercial paper, or in such bank or trust company certificates of deposit. The Escrow Agent , and with such maturities, as shall hold be designated in writing from time to time by the Company, such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred writing to herein as specify the “Fund”)particular investment. Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Deposit Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner Company as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner Company to confirm in writing an instruction given by telephone shall affect effect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).