Common use of Investment of Proceeds Clause in Contracts

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from the Issuer in an interest bearing account.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Telident Inc /Mn/), Stock Purchase Agreement (Famco Ii Liability Co & Family Financial Strategies Inc)

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Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from Investors in bank accounts, including interest-bearing savings accounts and bank money market accounts, in short-term certificates of deposit issued by a bank, or in short-term securities directly or indirectly issued or guaranteed by the Issuer in an interest bearing accountUnited States government.

Appears in 2 contracts

Samples: Escrow Agreement (Desert Capital Reit Inc), Escrow Agreement (Desert Capital Reit Inc)

Investment of Proceeds. All funds held by the Escrow Agent ----------------------- pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest hold all funds received from subscribers in the Issuer in an designated Escrow Account, which shall earn interest bearing accountat the stated rate on such time deposits.

Appears in 2 contracts

Samples: Escrow Agreement (Lasik America Inc), Escrow Agreement (Lasik America Inc)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from the Issuer investors in an interest bearing account, with all such interest being payable to the investors who have tendered subscriptions for Notes, which payment shall be made simultaneously with any disbursement of the escrowed funds referenced in Section 3 above.

Appears in 1 contract

Samples: Escrow Agreement (Taylor Investment Corp /Mn/)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from Investors in the Issuer in an interest bearing accountFidelity Prime Obligation Fund, a money market fund.

Appears in 1 contract

Samples: Escrow Agreement (Desert Capital Reit Inc)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Escrow Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest keep all funds received from subscribers in cash or, alternatively, invest such funds only in investments permissible under SEC Rule 15c2-4 as directed in writing by Placement Agent. However, under any and all circumstances, the Issuer in an Escrow Account shall bear no interest bearing accountto subscribers or the Company.

Appears in 1 contract

Samples: Escrow Agreement (Actionview International Inc)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from subscribers as directed in writing by the Issuer Company in an interest bearing accountaccordance with Rule 15c2-4 promulgated under the Securities Exchange Act of 1934."

Appears in 1 contract

Samples: Escrow Agreement (American Card Technology Inc)

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Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from subscribers in the Issuer in an interest bearing accountDreyfus Prime Treasury Money Market Fund and/or Firstar Funds.

Appears in 1 contract

Samples: Escrow Agreement (Bright Technologies Com Inc)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Escrow Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest keep all funds received from subscribers in cash or, alternatively, invest such funds only in investments permissible under SEC Rule 15c2-4 as directed in writing by Agent of the Issuer in an Issuer. However, under any and all circumstances, the Escrow Account shall bear no interest bearing accountto subscribers or the Company.

Appears in 1 contract

Samples: Escrow Agreement (Body Art & Science Inc)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from the Issuer Investors in an interest bearing account[NAME OF FUND], a money market fund.

Appears in 1 contract

Samples: Escrow Agreement (Bull Street Real Estate Investment Trust Inc)

Investment of Proceeds. All funds held by the Escrow Agent pursuant to this Agreement shall constitute trust property for the purposes for which they are held. The Escrow Agent shall invest all funds received from the Issuer subscribers in an interest bearing accountThe Bank of New York Cash Reserve Fund.

Appears in 1 contract

Samples: Escrow Agreement (American Card Technology Inc)

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