Common use of Deposit of Escrow Fund Clause in Contracts

Deposit of Escrow Fund. The Escrow Agent shall establish, at an FDIC-insured commercial banking institution of its own choosing (which may include an affiliate of the Escrow Agent) (“Bank”), an account in the name of ESCROW AGENT as agent for the benefit of the Funds and/or its investors for subscriptions (the “Subscription Account”) and an account in the name of ESCROW AGENT as agent for the benefit of the Funds and/or its investors for redemptions or repurchases (the “Repurchase Account,” and together with the Subscription Account, the “Accounts”). The Escrow Agent shall promptly deposit in the Subscription Account monies remitted by Potential Investors by wire transfer pursuant to instructions provided to them by the Funds. Balances on deposit in the Accounts will not earn interest. For the avoidance of doubt, as between the parties, the Funds and/or the Manager shall be solely responsible for any disclosure obligations regarding the Account(s) to Potential Investors and/or current investors (including the non-payment of interest), as the Funds and/or the Manager deem appropriate.