Deposit and Investment of Funds Sample Clauses

Deposit and Investment of Funds. (a) Upon the Closing under the Sale Agreement, Seller shall deposit with Escrow Agent out of the proceeds of closing the cash amount of Fifty Thousand and No/100ths Dollars ($50,000.00) (the “Base Year Claim Security”) in an escrow account in the name of Seller (the “Escrow Account”), to be released from such Escrow Account in accordance with the terms of this Agreement. (b) Escrow Agent shall invest all cash amounts deposited into the Escrow Account (and all payments, collections, interest and other proceeds of any such investments) in money market accounts or such other investments as Seller and Purchaser may approve in writing. Escrow Agent shall have no liability for any loss incurred by reason of any such investments, except for actions which result from its fraud, negligence or willful misconduct. All interest received with respect to the Base Year Claim Security shall be disbursed by Escrow Agent as provided in this Agreement.

Deposit and Investment of Funds. (a) On the date hereof (the "Closing Date"), in accordance with Section 5(a)(3) of the First Amendment, the sum of ______________ Dollars ($__________) has been deposited in the Account (the "Funds") to be held in accordance with this Agreement. Pursuant to Section 5(a)(3) of the First Amendment, PeoplePC shall from time to time deposit additional funds in the Account in order to maintain a balance therein equal to the Purchase Deposit. (b) All funds deposited from time to time to the Account, and all interest and other income from time to time earned with respect to the Funds, shall be deemed Funds hereunder and shall be invested as provided in this Agreement.

Deposit and Investment of Funds. Escrow Holder shall retain as of ------------------------------- the date of this Agreement, as trustee and fiduciary of Buyer and Seller, the Sony Lease Amount (as defined below) and the Seismic Retrofit Amount (as defined below) in an escrow account in the name of Buyer and Seller (the "Escrow ------ Account"), to be released from such Escrow Account only in accordance with the ------- terms of this Agreement. Escrow Holder shall invest all amounts deposited into the Escrow Account (and all payments, collections, interest and other proceeds of any such investments) in (i) securities that are direct obligations of the United States of America for the full and timely payment of which the full faith and credit of the United States of America are pledged, maturing not later than 180 days following the date of this Agreement and cancelable at any time with prorated interest accrual and without penalty as to interest or principal or (ii) money market accounts, bank repurchase agreements or such other investments as Seller may direct in writing, provided that Seller covenants to Buyer that all such investments shall be consistent with prudent institutional standards for short-term cash management investments and involve de minimis risk of loss of principal. Escrow Holder shall have no liability for any loss incurred by reason of any such investments, except for actions which result from its negligence or willful misconduct. All interest received with respect to the amounts in the Escrow Account shall be disbursed by Escrow Holder as provided in this Agreement.

Deposit and Investment of Funds. At or prior to the Effective Time, Parent shall deposit the Aggregate Merger Consideration with the Paying Agent. The Aggregate Merger Consideration shall be held by the Paying Agent for the benefit of Parent and the holders of Company Common Stock and shall not be used for any purposes other than to make payments to such holders of amounts to which they become entitled pursuant to Paragraph 2.04(a) of the Agreement and Section 5 of this Plan of Merger; provided, however, that, pending disbursement of the Aggregate Merger Consideration to the Company’s stockholders, Parent may direct the Paying Agent to invest such cash in obligations of or guaranteed by the United States of America, in commercial paper obligations receiving the highest rating from Standard & Poor’s Corporation, in money market funds which are invested solely in the above, in certificates of deposit of or other deposit accounts in domestic commercial banks (including Parent, and provided that such accounts are designated by the depository banks as containing funds held by the Paying Agent for the benefit of Parent and the former holders of Company Common Stock), or in such other investment as to which Parent and the Paying Agent shall agree (collectively, the “Permitted Investments”), any of which Permitted Investments shall have a maturity that will not prevent or delay payments to be made pursuant to Paragraph 2.04(a) of the Agreement and Section 5 of this Plan of Merger. All interest, dividends or other income on the invested funds shall belong solely to Parent. If for any reason (including losses on invested funds) the funds held by the Paying Agent are inadequate to pay the amounts to which the holders of Company Common Stock shall be entitled under Paragraph 2.04(a) of the Agreement and Section 5 of this Plan of Merger, Parent shall be liable for the payment of any deficiency.

Deposit and Investment of Funds. Escrow Agent hereby acknowledges receipt of the Holdback in the amount of $500,000, and shall hold, safeguard, and distribute the amounts so received in accordance with and subject to the terms of this Escrow Agreement. Escrow Agent shall deposit such funds received by it hereunder into an interest bearing account (the "Escrow Account") established for such purpose, which shall be established under Seller's Federal Employer Identification Number. Escrow Agent shall invest and reinvest the Holdback from time to time during the term of the escrow hereunder, upon direction of Seller, in one or more of the following investments (the "Obligations"): (a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America; and (b) money market funds authorized to invest solely in direct obligations of the United States of America. No Obligation shall have a maturity later than thirty (30) days after the date of the Escrow Agent's investment therein. Interest and other earnings on the Obligations shall be paid to Seller from time to time periodically. Any loss incurred from an investment shall be borne by the Escrow Account, except for losses resulting from the gross negligence or willful misconduct of the Escrow Agent. Investment and reinvestment of the Escrow Account shall be made only in Obligations.

Deposit and Investment of Funds. The Cooperative shall deposit Cooperative moneys or funds with one or more banks, savings and loan associations, credit unions, or joint investments or other permitted depositories in the manner and as could be made by a Member. If authorized by Executive Committee resolution, the Treasurer may invest Cooperative funds in any investments which could be made by a Member. The Cooperative shall have no responsibility for any loss which may occur by reason of the failure of any depository or investment obligor with whom Cooperative moneys have been deposited or invested in accordance with the requirements of this Section. BOCES is authorized to initially open any necessary accounts.

Deposit and Investment of Funds. Escrow Agent hereby acknowledges receipt of the Holdback in the amount of One Hundred Thousand Dollars ($100,000), and shall act in accordance with and subject to the terms of this Escrow Agreement. Escrow Agent shall deposit such funds received by it hereunder into a money market interest bearing account (the “Escrow Account”) established for such purpose, which shall be established under Seller’s Federal Employer Identification Number.