Common use of Interest and Dividends Clause in Contracts

Interest and Dividends. All interest earned and dividends paid on the Pledged Securities or any funds invested in Cash Equivalents shall be deposited in the Escrow Account as additional Escrow Collateral for the exclusive benefit of the Beneficiaries and, if not required to be disbursed in accordance with the terms hereof, subject to subsections 6(b)(iii), 6(e) and 6(f), shall be reinvested in accordance with the terms hereof at Company's written instruction unless a Default or Event of Default has occurred or Trustee has notified Escrow Agent that it should only take direction from Trustee or should no longer take direction from Company.

Appears in 1 contract

Samples: Escrow Agreement (Global Telesystems Group Inc)

AutoNDA by SimpleDocs

Interest and Dividends. All interest earned and dividends paid on the Pledged Securities or any funds invested in Cash Equivalents shall be deposited in the Escrow Account as additional Escrow Collateral for the exclusive benefit of the Beneficiaries and, if not required to be disbursed in accordance with the terms hereof, subject to subsections 6(b)(iii), 6(e) and 6(f), shall be reinvested in accordance with the terms hereof at Company's written instruction unless a Default or Event of Default has occurred or Trustee has notified Escrow Agent that it should only take direction from Trustee or should no longer take direction from Company.

Appears in 1 contract

Samples: Escrow Agreement (Hermes Europe Railtel B V)

Interest and Dividends. All interest earned and dividends paid on the Pledged Securities or any funds invested in Cash Equivalents U.S. Government Securities shall be deposited in the Escrow Account as additional Escrow Collateral for the exclusive benefit of the Beneficiaries and, if not required to be disbursed in accordance with the terms hereof, subject to subsections 6(b)(iii), 6(e) and 6(f)) hereof, shall be reinvested in accordance with the terms hereof at the Company's written instruction unless a Default or Event of Default has occurred or the Trustee has notified the Escrow Agent that it should only take direction from the Trustee or should no longer take direction from the Company.

Appears in 1 contract

Samples: Escrow Agreement (Verio Inc)

AutoNDA by SimpleDocs

Interest and Dividends. All interest earned and dividends ---------------------- paid on the Pledged Securities or any funds invested in Cash Equivalents U.S. Government Securities shall be deposited in the Escrow Account as additional Escrow Collateral for the exclusive benefit of the Beneficiaries and, if not required to be disbursed in accordance with the terms hereof, subject to subsections 6(b)(iii), 6(e) and 6(f), shall be reinvested in accordance with the terms hereof at the Company's written instruction unless a Default or Event of Default has occurred or Trustee has notified Escrow Agent that it should only take direction from Trustee or should no longer take direction from the Company.

Appears in 1 contract

Samples: Escrow Agreement (Concentric Network Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!