Investment of Deposits. Borrower and Lender agree that Lender shall hold all moneys deposited into the Replacement Reserve Fund in an interest bearing account, and any interest earned on such moneys shall be added to the principal balance of the Replacement Reserve Fund and disbursed in accordance with the provisions of this Agreement. Borrower acknowledges and agrees that it shall not have the right to direct Lender as to any specific investment of moneys in the Replacement Reserve Fund. Lender shall not be responsible for any losses resulting from investment of moneys in the Replacement Reserve Fund or for obtaining any specific level or percentage of earnings on such investment. Lender shall be entitled to deduct the Investment Fee from the Replacement Reserve Fund for establishing the Replacement Reserve Fund.
Investment of Deposits. Borrower and Xxxxxx agree that all moneys deposited into the Replacement Reserve Fund shall be held by Lender in an interest bearing account, and any interest earned on such moneys shall be added to the principal balance of the Replacement Reserve Fund and disbursed in accordance with the provisions of this Agreement. Lender shall not be responsible for any losses resulting from investment of moneys in the Replacement Reserve Fund or for obtaining any specific level or percentage of earnings on such investment. Lender shall be entitled to deduct from the Replacement Reserve Fund a one time fee for establishing the Replacement Reserve Fund in an amount not to exceed $ .
Investment of Deposits. The Authority may place amounts on deposit in the Loan Repayment Fund (including investment earnings thereon) in time deposits or invest the same as authorized by applicable law and the Authority’s Investment Policy.
Investment of Deposits. Borrower acknowledges that the Replacement Reserve Fund will be deposited in an Eligible Account at an Eligible Institution or invested in “permitted investments” as then defined and required by the Rating Agencies, and, unless applicable law requires, Lender will not be required to pay Borrower any interest, earnings, or profits on the Replacement Reserve Fund. Lender will be entitled to deduct the Investment Fee from the Replacement Reserve Fund for establishing the Replacement Reserve.
Investment of Deposits. Unless otherwise instructed by the Purchaser, the parties agree that the Vendor’s Solicitors shall invest the Deposits in short term deposits with a Canadian chartered bank and that the interest earned shall be added to and form part of the Deposits and shall be paid to the Purchaser forthwith after Closing.
Investment of Deposits. Borrower and Lender agree that all monies deposited into the Replacement Reserve Fund shall be held by Lender in an interest bearing account, and any interest earned on such monies shall be added to the principal balance of the Replacement Reserve Fund and disbursed in accordance with the provisions of this Agreement. Lender shall be entitled to deduct from the Replacement Reserve Fund a one time fee for establishing the Replacement Reserve Fund in an amount not to exceed $_N/A .
Investment of Deposits. Except as to deposits of funds for which Escrowee has received express written direction concerning investment or other handling as set forth herein, the parties hereto agree that Escrowee will be under no duty to invest or reinvest any deposits at any time held by it hereunder; and further, that Escrowee may commingle those deposits with other deposits or with its own funds in the manner provided for the administration of funds under Section 2-8 of the Corporate Fiduciary Act (205 ILCS 620/2-8) and may use any part or all such funds for its own benefit without obligation to any party for interest or earnings derived thereby, if any; provided, however, nothing herein will diminish Escrowee’s obligation to apply the full amount of the deposits in accordance with the terms of this Escrow Agreement.
Investment of Deposits. The Deposits shall be invested by Escrow Agent, as directed pursuant to the joint written instruction of Acquiror and the Holder Representative, in interest bearing bank accounts or certificates of deposit of federally insured financial institutions or in treasury bills or such other investments as are mutually acceptable to the Holder Representative and Acquiror in specified accounts (the "Accounts"). All interest earned on the Deposits shall become part of the respective Deposits.
Investment of Deposits. Any sums deposited into Escrow by Buyer ---------------------- prior to Closing, and any interest thereon, shall be placed in an interest-bearing account or invested in interest-bearing securities by Escrow Holder.
Investment of Deposits. Buyer, and Seller agree that all sums deposited by Buyer pursuant hereto shall be invested in treasury bills, certificates of deposit, short term money market instruments or bank repurchase contracts approved by Buyer and Seller, in such manner as to make all such sums (and the interest earned thereon) available on the date for Closing. Buyer and Seller hereby instruct Deposit Holder to so invest such sums and to return to Buyer, upon Closing, all sums in excess of those needed to satisfy Buyer's obligations hereunder to Seller. Interest earned thereon shall be for the account of Buyer, and Buyer shall provide Deposit Holder with Buyer's taxpayer identification number for use in opening the Escrow.
