Common use of Disposition of Contract Deposit Clause in Contracts

Disposition of Contract Deposit. Escrow Holder shall hold and dispose of the Deposit in accordance with the terms of this Agreement or in accordance with any instruction or instructions which shall be signed jointly by both Seller and Purchaser, or in accordance with separate instructions of like tenor signed by Seller and Purchaser. Seller and Purchaser hereby instruct and authorize Escrow Holder to invest the Deposit in any of the following: (i) United States Treasury obligations; (ii) United States Treasury-backed repurchase agreements issued by a major national money center banking institution reasonably acceptable to Seller; or (iii) such other investments as may be reasonably acceptable to Seller and Purchaser. If Escrow Holder shall receive an instruction (hereinafter the “Instruction”) with respect to the Deposit, or any part thereof, from Seller but not from Purchaser, or from Purchaser but not from Seller (the party giving the Instruction being hereinafter referred to as the “Instructing Party” and the party which shall not have given the Instruction being hereinafter referred to as the “Non-Instructing Party”), Escrow Holder shall transmit a copy of the Instruction received from the Instructing Party to the Non-Instructing Party. Escrow Holder shall not act in accordance with the Instruction unless and until the Non-Instructing Party shall notify Escrow Holder in writing that Escrow Holder is to comply with the Instruction. If the Non-Instructing Party shall advise Escrow Holder not to comply with the Instruction, Escrow Holder shall not act in accordance with the Instruction, but may thereafter either

Disposition of Contract Deposit. Escrow Holder shall hold and dispose of the Deposit in accordance with the terms of this Agreement or in accordance with any instruction or instructions which shall be signed jointly by both Seller and PurchaserBuyer, or in accordance with separate instructions of like tenor signed by Seller and PurchaserBuyer. Seller and Purchaser Buyer hereby instruct and authorize Escrow Holder to invest the Deposit in any of the following: (i) United States Treasury obligations; (ii) United States Treasury-backed repurchase agreements issued by a major national money center banking institution reasonably acceptable to Seller; or (iii) such other investments as may be reasonably acceptable to Seller and PurchaserBuyer. If Escrow Holder shall receive an instruction (hereinafter the “"Instruction”") with respect to the Deposit, or any part thereof, from Seller but not from PurchaserBuyer, or from Purchaser Buyer but not from Seller (the party giving the Instruction being hereinafter referred to as the “"Instructing Party” " and the party which shall not have given the Instruction being hereinafter referred to as the “"Non-Instructing Party”"), Escrow Holder shall transmit a copy of the Instruction received from the Instructing Party to the Non-Instructing Party. Escrow Holder shall not act in accordance with the Instruction unless and until the Non-Instructing Party shall notify Escrow Holder in writing that Escrow Holder is to comply with the Instruction. If the Non-Instructing Party shall advise Escrow Holder not to comply with the Instruction, Escrow Holder shall not act in accordance with the Instruction, but may thereafter either

Disposition of Contract Deposit. Escrow Holder shall hold and dispose of the Deposit in accordance with the terms of this Agreement or in accordance with any instruction or instructions which shall be signed jointly by both Seller and PurchaserBuyer, or in accordance with separate instructions of like tenor signed by Seller and PurchaserBuyer. Seller and Purchaser Buyer hereby instruct and authorize Escrow Holder to invest the Deposit in any of the following: (i) United States Treasury obligations; (ii) United States Treasury-backed repurchase agreements issued by a major national money center banking institution reasonably acceptable to Seller; or (iii) such other investments as may be reasonably acceptable to Seller and PurchaserBuyer. If Escrow Holder shall will receive an instruction (hereinafter the “Instruction”"INSTRUCTION") with respect to the Deposit, or any part thereof, from Seller but not from PurchaserBuyer, or from Purchaser Buyer but not from Seller (the party giving the Instruction being hereinafter referred to as the “Instructing Party” "INSTRUCTING PARTY" and the party which shall will not have given the Instruction being hereinafter referred to as the “Non"NON-Instructing Party”INSTRUCTING PARTY"), Escrow Holder shall will transmit a copy of the Instruction received from the Instructing Party to the Non-Instructing Party. Escrow Holder shall will not act in accordance with the Instruction unless and until the Non-Instructing Party shall will notify Escrow Holder in writing that Escrow Holder is to comply with the Instruction. If the Non-Instructing Party shall will advise Escrow Holder not to comply with the Instruction, Escrow Holder shall will not act in accordance with the Instruction, but may thereafter either