Contributions and Purchases. The timing of cash investment by the Trustee is dependent on the Recordkeeper and its reconciliation of funds received in the Trust. If funds are sent to the Trustee via wire, or Automated Clearing House (“ACH”) debt to the Company’s bank account, the investment of these funds will generally occur within one business day of receipt. The Company may review the service contract with the Recordkeeper to identify specific standards concerning the timing of investment purchases. The Trustee will earn income approximating the rates of return on a two (2) year Treasury note on money received from the date of deposit with the Trustee until the later of the date the monies are wired in payment of investment purchases or the settlement date. The Company may monitor and compute the amount of income earned by the Trustee by reviewing the date of deposit (as reported on the account statements) versus the settlement date of the purchases.
Contributions and Purchases. (a) In accordance with Section 4.01 of the LLC Agreement, (i) on the date hereof, RN Sub shall and hereby does unconditionally and irrevocably Contribute (or cause to be Contributed) to the Company, and the Company shall and hereby does unconditionally and irrevocably accept from RN Parent, the RN Contribution Assets, (ii) on each date set forth opposite each RN Initial Cash Contribution, RN Sub shall unconditionally and irrevocably Contribute (or cause to be Contributed) to the Company, and the Company shall unconditionally and irrevocably accept from RN Sub, such RN Initial Cash Contribution and (iii) the parties shall execute such appropriate bills of sale and assignments to reflect the foregoing.
Contributions and Purchases. The timing of cash investment is dependent upon the Recordkeeper and their reconciliation of funds received into the trust. If Trustee receives payroll contributions by performing an ACH (Automated Clearing House) debit to Company’s bank account, this cash will generally be invested within 24 hours. If funds are sent to Trustee via wire, ACH or check, the investment of these funds will generally occur within 36 hours of receipt. Company may review the service contract with the Recordkeeper to identify specific standards concerning the timing of investment purchases. Trustee will earn Fed Funds income on money received from the date of deposit at Trustee until the date the monies are wired in payment of investment purchases in the account, or settlement date. Company may monitor and compute the amount of income earned by Trustee by reviewing the date of deposit (as reported on the account statements) versus the settlement date of the purchase(s).
Contributions and Purchases
