Common use of Funds in the Escrow Account Clause in Contracts

Funds in the Escrow Account. Upon receipt of funds from subscribers, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested at the direction of the Company. Unless otherwise directed by the Company, the Escrow Agent is hereby directed to invest all funds received under this Agreement in UMB Bank Money Market Special, a UMB Bank interest-bearing money market deposit account. The Escrow Agent shall be entitled to sell or redeem any such investment as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Notwithstanding the foregoing, all such funds shall not be invested in anything other than “Short Term Investments” in compliance with Rule 15c2-4 of the Securities Exchange Act of 1934, as amended. Interest, if any, resulting from the investment of the funds in the Escrow Account shall be distributed according to this Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company) on the account balance in the Escrow Account and the activity in such account since the last report.

Funds in the Escrow Account. Upon receipt of funds from subscribers, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested at the direction of the Company. Unless otherwise directed by the Company, the Escrow Agent is hereby directed to invest all funds received under this Agreement in UMB Bank Money Market Special, a UMB Bank interest-bearing account unless otherwise determined by the Company. During the Escrow Period, subscriber funds shall not be invested in anything other than short term investments in compliance with Rule 15c2-4 of the Securities Exchange Act of 1934, as amended. The following are not permissible investments: money market deposit accountmutual funds, corporate debt or securities, repurchase agreements, banker’s acceptance, commercial paper, and municipal securities. The Escrow Agent shall be entitled to sell or redeem any such investment as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Notwithstanding the foregoing, all such funds shall not be invested in anything other than “Short Term Investments” in compliance with Rule 15c2-4 of the Securities Exchange Act of 1934, as amended. InterestIncome, if any, resulting from the investment of the funds in the Escrow Account shall be distributed according to this Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company) on the account balance in the Escrow Account and the activity in such account accounts since the last report.

Funds in the Escrow Account. Upon receipt of funds from subscribers, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested in federally insured bank accounts (e.g., savings accounts), short-term certificates of deposit issued by a bank, short-term securities issued or guaranteed by the United States government or a money market mutual fund that invests primarily in US Treasuries and US Government Securities, and any other investments in a manner as permitted under Rule 15c2-4 of the Securities Exchange Act of 1934, as amended, at the direction of the Company. Unless otherwise directed by the Company, All funds in the Escrow Agent is hereby directed to invest Account shall at all funds received under this Agreement times be placed in UMB Bank Money Market Special, a UMB Bank interest-bearing money market deposit accountaccounts unless otherwise determined by the Company (except for the funds from Pennsylvania Subscribers in the Escrow Account which must be maintained in an interest-bearing account following the Initial Escrow Period). The Escrow Agent shall be entitled to sell or redeem any such investment as necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Notwithstanding the foregoing, all such funds shall not be invested in anything other than “Short Term Investments” in compliance with Rule 15c2-4 of the Securities Exchange Act of 1934, as amended. InterestIncome, if any, resulting from the investment of the funds in the Escrow Account shall be distributed according to this Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company) on the account balance in the Escrow Account and the activity in such account accounts since the last report.