Earned Interest. Depositor hereby specifically acknowledges that cash in the depositor’s XXX, which the depositor has not yet directed to be invested, will be placed temporarily in an interest-bearing account of Custodian’s choosing. Depositor further acknowledges that, until such time as depositor provides instruction as to how funds are to be invested, depositor funds not yet invested will earn interest at the market interest rate currently offered by the Custodian. Depositor acknowledges that such rate is not fixed and may be subject to fluctuation. Depositor’s cash account will be credited at the end of each month for interest earned during the month at the current rate in effect. Interest earned on invested cash that exceeds the rate currently offered by the Custodian will be retained by Preferred Trust Company, LLC as income. The Custodian shall be entitled to retain this income net of related service fees.
Earned Interest. Upon the required cash payments and the completion of the first exploration program as defined in 3.4(a)(i) above, in the amount of $2,000,000, the Optionee shall earn an irrevocable twenty-five percent (25%) interest in and to the Property.
Earned Interest. Earned interest means any interest earnings generated from grant funds held by Grantee in interest bearing accounts.
Earned Interest. 18.1 It is the intentions of the Parties that Farmee is incurring significant expenditures to earn a 40% undivided interest in the Farmout Lands (to the extent of Farmee’s drilling operations hereunder). If, immediately prior to the time Farmor conveyed a 40% undivided interest in the Farmout Lands and Title Documents to Farmee, the Farmor had less than a 80% beneficial interest in any of the Farmout Lands or the Title Documents, the Farmee shall nevertheless earn a 40% undivided beneficial interest in and to the Farmout Lands earned hereunder even if the effect is that the Farmor’s residual beneficial interest (after earning by Farmee) is less than a 40% undivided interest in those Farmout Lands.
Earned Interest. Upon the required cash payments as defined in 3.2 and the completion of the expenditures on the Property as defined in 3.4 above, the Optionee shall earn and be assigned an irrevocable seventy-five percent (75%) interest in and to the Property.
Earned Interest. All interest which accrues on the Escrow Amount shall be paid by Escrow Agent to Seller on the termination of this Escrow Agreement.
Earned Interest. Upon completion of the Exploration Program, BUYER shall have earned 100% of Speebo's undivided interest in the Acquisition Lands, subject to the net smelter royalties described in section 6 herein (the "Earned Interest").
Earned Interest. The Loan Account is credited with interest at a rate which is not less than the Loan Interest Rate, less 3%, on an annual basis.
Earned Interest. Upon execution of this Agreement and payment in full of the Consideration amounts specified in Section 3, HMIT shall have fully earned 50% of North Bay's undivided interest in the JV Lands.
Earned Interest. Grantees are not required to deposit CPF funds in a separate bank account; however they must track and account for CPF funds appropriately. Grantees are also required to track interest earned on CPF funds and report to OFCC. Interest earned may be required to be returned or used for administrative expenses.
