Escrow Account Statements. The Escrow Agent is hereby authorized to execute purchases and sales of Permitted Investments through the facilities of its own trading or capital markets operations or those of any affiliated entity. The Escrow Agent shall send statements to LSI and the Shareholders on a monthly basis reflecting activity in the Escrow Fund for the preceding month. In doing so, the Escrow Agent may provide a statement containing information regarding any deposits and disbursements and a separate statement reflecting the investment detail, including the balance, purchases, sales, and interest postings. However, absent a specific request by either LSI or the Shareholders to the contrary, no statement need be rendered pursuant to this Escrow Agreement if no activity occurred for such month. LSI and the Shareholders each acknowledge and agree that the delivery of the escrowed property is subject to the sale and final settlement of investments described herein. Proceeds of a sale of investments will be delivered on the business day on which the appropriate instructions are delivered to the Escrow Agent if received prior to the deadline for same day sale of such investments. If such instructions are received after the applicable deadline, proceeds will be delivered on the next succeeding business day. The Shareholders and LSI acknowledge that regulations of the Comptroller of the Currency grant them the right to receive brokerage confirmations of security transactions as they occur. They specifically waive such notification to the extent permitted by law and knowledge that they will receive periodic cash transaction statements, which will detail all investment transactions.
Escrow Account Statements. The Escrow Agent is hereby authorized to execute purchases and sales of Permitted Investments through the facilities of its own trading or capital markets operations or those of any affiliated entity. The Escrow Agent shall send statements to LSI and Saco on a monthly basis reflecting activity in the Escrow Fund for the preceding month. In doing so, the Escrow Agent may provide a statement containing information regarding any deposits and disbursements and a separate statement reflecting the investment detail, including the balance, purchases, sales, and interest postings. However, absent a specific request by either LSI or Saco to the contrary, no statement need be rendered pursuant to this Escrow Agreement if no activity occurred for such month. LSI and Saco each acknowledge and agree that the delivery of the escrowed property is subject to the sale and final settlement of investments described herein. Proceeds of a sale of investments will be delivered on the business day on which the appropriate instructions are delivered to the Escrow Agent if received prior to the deadline for same day sale of such investments. If such instructions are received after the applicable deadline, proceeds will be delivered on the next succeeding business day.
Escrow Account Statements. The Escrow Agent shall send statements to MCC and Stockholders’ Representative on a monthly basis reflecting activity in each of the Escrow Funds for the preceding month. In doing so, the Escrow Agent may provide a statement containing information regarding any deposits and release and a separate statement reflecting the investment detail, including the balance, purchases, sales, and interest postings.
Escrow Account Statements. 6.1 During the term of this Escrow Agreement, the Escrow Agent shall provide each of the Escrow Parties with monthly statements containing the beginning balance in the Escrow Account as well as all principal and income transactions for the statement period (“Periodic Account Statements”). The Escrow Parties shall be responsible for reconciling the Periodic Account Statements. In the absence of the Escrow Agent’s gross negligence, bad faith or willful misconduct, the Escrow Agent shall be forever released and discharged from all liability with respect to the accuracy of the Periodic Account Statements and the transactions listed therein, except with respect to any such act or transaction as to which any of the Escrow Parties shall, within ninety (90) days after the Escrow Agent makes the Periodic Account Statement available, file written objections with the Escrow Agent.
Escrow Account Statements. The Escrow Agent shall simultaneously provide statements regarding the Escrow Account to the Seller and the Purchaser (i) after the release of any portion of the Escrow Amount in accordance with Clause 3.4, (ii) yearly, as of the end of each year during the entire Escrow Period, and (iii) otherwise upon request of any Party; within five
