Common use of Interim Investment of Escrow Account Clause in Contracts

Interim Investment of Escrow Account. Sutts, Strosberg LLP, and then the Administrator after the Settlement becomes final, shall hold the Escrow Settlement Amount in the Escrow Account and shall invest the Escrow Settlement Amount in a liquid money market account or equivalent security with a rating equivalent to, or better than that of an interest bearing account in a Canadian Schedule 1 bank and shall not pay out any amount from the Escrow Account, except in accordance with the terms of the Agreement. The Defendants shall have no responsibility for, interest in, or liability whatsoever with respect to investment decisions executed by Sutts, Strosberg LLP or the Administrator. The Escrow Settlement Amount shall bear all risks related to the investments of the Settlement Amount.

Interim Investment of Escrow Account. Sutts, Strosberg LLP, and then the Administrator after the Settlement becomes final, shall hold the Escrow Settlement Amount in the Escrow Account and shall invest the Escrow Settlement Amount in a liquid money market account or equivalent security with a rating equivalent to, or better than that of an interest bearing account in a Canadian Schedule 1 bank and shall not pay out any amount from the Escrow Account, except in accordance with the terms of the Agreement. The Defendants shall have no responsibility for, interest in, or liability whatsoever with respect to investment decisions executed by SuttsXxxxx, Strosberg Xxxxxxxxx LLP or the Administrator. The Escrow Settlement Amount shall bear all risks related to the investments of the Settlement Amount.