Interest on Escrowed Funds. All interest accruing -------------------------- on the escrowed funds from the date of deposit to disbursement shall belong to the Company.
Interest on Escrowed Funds. At such time as the Escrow Account shall be closed and Escrow Agent shall deliver all escrowed funds remaining in the Escrow Account to the Company, or shall return all such funds to Subscribers, as provided in Paragraph 3 above, it also shall deliver or make available to the Company any and all interest or income earned to date on such funds. All interest or other income earned or paid on funds in the Escrow Account shall belong to the Company.
Interest on Escrowed Funds. Interest accruing on any Escrowed Funds shall accrue to the benefit of, and shall be released by the Receipt Agent in accordance with the provisions of this Agreement to, the Company, the Agents or the Receiptholders, as the case may be.
Interest on Escrowed Funds. Interest, if any, accruing on any Escrowed Funds accrues to the benefit of, and will be disbursed by the Subscription Receipt Trustee (or by Torys on behalf of the Subscription Receipt Trustee) in accordance with the provisions of this Agreement to the Corporation, if the Issuance Rights are deemed to have been exercised, or the Receiptholders, if the Refund Rights are deemed to have been exercised.
Interest on Escrowed Funds. Escrow Holder shall maintain the funds held under this Article 6 in a separate account at a financial institution designated by Escrow Holder and reasonably acceptable to Landlord and Tenant. The funds in such account shall be invested and reinvested in a money-market or other interest bearing account for periods not to exceed 5 days and without incurring any withdrawal penalties or other monetary penalties or charges. The interest accruing on such funds in such account shall be credited to and become a part of the funds held by Escrow Holder under this Article 6. The funds in such account shall be controlled solely by Escrow Holder pursuant to the terms of this Article 6.
Interest on Escrowed Funds. (a) Unless herein otherwise expressly provided, the Escrowed Funds shall be deposited in a segregated account in the name of the Escrow Agent as agent for the Corporation and Golden Minerals in any Canadian Schedule I chartered bank at the rate of interest (if any) then current on similar deposits. The amounts held by the Escrow Agent pursuant to this Escrow Agreement are at the sole risk of the other parties to this Escrow Agreement and, without limiting the generality of the foregoing, the Escrow Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with any bank as contemplated by and in accordance with the preceding sentence, including any losses resulting from a default by such bank, provided that the Escrow Agent has not been grossly negligent or engaged in wilful misconduct or acted in bad faith or breached its standard of care set forth in Section 2.2. The parties hereto acknowledge and agree that the Escrow Agent will have acted prudently in depositing the Escrowed Funds at any bank contemplated by this Section 2.3(a) and that the Escrow Agent is not required to make any further inquiries in respect of any such bank; and
(b) Interest, income or other amounts from time to time earned on the Escrowed Funds (“Interest”) shall be held on deposit by the Escrow Agent as part of the Escrowed Funds and shall be invested, disbursed and otherwise dealt with in the same manner and on the same terms as the Escrowed Funds governed by this Agreement. The annual net income derived from the Escrowed Funds shall be income of the Corporation or Golden Minerals, as applicable, for income tax purposes and tax slips will be issued in this regard. For greater certainty, upon the release of any Escrowed Funds to either the Corporation or Golden Minerals in accordance with the terms hereof, a pro rata portion of the Interest earned on the Escrowed Funds prior to the date of such release shall also be released from escrow and paid to the Corporation or Golden Minerals, as applicable.
Interest on Escrowed Funds. Funds deposited to the Escrow Account shall bear interest at current money market rates until such time as the Escrow Account shall be closed. At such time as the Escrow Account shall be closed, the Escrow Agent shall deliver all escrowed funds remaining in the Escrow Account to Crescent, plus any and all interest due to Crescent pursuant to the first sentence of this Paragraph 5. At such time as the Escrow Agent shall return escrowed funds in the Escrow Account to Subscribers, as provided in Paragraph 3 above, it shall also deliver or make available to Subscribers all interest earned to date on such funds pursuant to the first sentence of this Paragraph 5, each share to be calculated on a Pro Rata Basis. "Pro Rata Basis" shall mean, for each Subscriber, the portion of such Subscriber's cash investment being returned multiplied by the number of days such cash investment of the Subscriber was held in the interest bearing money market investment account pursuant to Paragraph 4 above, multiplied by the average daily yield earned on the escrowed funds during such period of days.
Interest on Escrowed Funds. The Escrowed Funds shall be invested in an interest-bearing account, all interest becoming a part of the Escrowed Funds and all taxes thereon shall be paid by the Sublessor. Escrow Agent shall provide prompt written notice to the Sublessor and the Sublessee of the location and account number of such account. The Sublessor’s Federal Tax Identification Number shall be given in connection with the interest earned on the Escrowed Funds. The Federal Tax Identification Number of the Sublessor is 00-0000000.
Interest on Escrowed Funds. All interest earned during any -------------------------- calendar year on amounts held in this Escrow shall be deemed to be earned by and taxable to Purchaser. In furtherance thereof, the Escrow Agent shall issue to Purchaser a Form 1099-INT with respect to such calendar year in the amount of such interest. Notwithstanding the foregoing, any such interest on amounts that are paid out of this Escrow to Seller during such year pursuant to the provisions of Section 34.3 above shall be deemed to be earned by and taxable to Seller and the Escrow Agent shall issue to Seller a Form 1099-INT in the amount of such interest. The Escrow Agent shall fairly and properly allocate interest earned on the escrowed funds between Purchaser and Seller.
Interest on Escrowed Funds. All interest earned during any -------------------------- calendar year on funds held in the Escrow Account shall be deemed for tax purposes to be earned by and taxable to the Indemnifying Party. In furtherance thereof, the Escrow Agent shall issue to the Indemnifying Party a Form 1099-INT with respect to such calendar year in the amount of such interest. Notwithstanding the foregoing, any such interest on funds that are paid out of the Escrow Account to the Indemnified Party during such year pursuant to the provisions of Section 28.4 below shall be deemed to be earned by and taxable to the Indemnified Party and the Escrow Agent shall issue to the Indemnified Party a Form 1099-INT in the amount of such interest.
