Common use of Establishment of Paying Agent Account Clause in Contracts

Establishment of Paying Agent Account. The Paying Agent shall establish a deposit account (the "Paying Agent Account") at State Street Bank and Trust Company in the name of the Escrow Agent. It is expressly understood by the parties hereto that the Paying Agent is acting as the paying agent of the Escrow Agent hereunder and that no amounts on deposit in the Paying Agent Account constitute part of the Trust Property.

Establishment of Paying Agent Account. The Paying Agent shall establish a deposit account (the "Paying Agent Account") at State Street Bank and Trust Company of Connecticut, National Association in the name of the Escrow Agent. It is expressly understood by the parties hereto that the Paying Agent is acting as the paying agent of the Escrow Agent hereunder and that no amounts on deposit in the Paying Agent Account constitute part of the Trust Property.

Establishment of Paying Agent Account. The Paying Agent shall establish a deposit account (the "“Paying Agent Account"”) at State Street with U.S. Bank and Trust Company National Association in the name of the Escrow Agent. It is expressly understood by the parties hereto that the Paying Agent is acting as the paying agent of the Escrow Agent hereunder and that no amounts on deposit in the Paying Agent Account constitute part of the Trust Property. The Paying Agent shall be under no obligation to invest any amounts held by it pursuant to the terms of this Agreement.

Establishment of Paying Agent Account. The Paying Agent shall establish a deposit account (the "“Paying Agent Account"”) at State Street U.S. Bank and Trust Company National Association in the name of the Escrow Agent. It is expressly understood by the parties hereto that the Paying Agent is acting as the paying agent of the Escrow Agent hereunder and that no amounts on deposit in the Paying Agent Account constitute part of the Trust Property.