Common use of Investment of Escrow Account Clause in Contracts

Investment of Escrow Account. As soon as possible after its receipt of the Escrow Account, the Escrow Agent shall invest any cash deposited in the Escrow Account (the "Cash Investment") as set forth on Exhibit "A" attached hereto, or as otherwise directed in writing from time to time by the Seller. All income earned on the Cash Investment will be owned by the Seller and shall be distributed at least once every 365 days. The Escrow Agent will not be liable or responsible for any loss resulting from any investment or reinvestment made as provided in this Agreement at the written direction of the Seller.

Appears in 9 contracts

Samples: Agreement and Plan of Reorganization (Imagemax Inc), Stock Purchase Agreement (Imagemax Inc), Agreement and Plan of Reorganization (Imagemax Inc)

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Investment of Escrow Account. As soon as possible after its receipt of the Escrow Account, the Escrow Agent shall invest any cash deposited in the Escrow Account (the "Cash Investment") as set forth on Exhibit "A" attached hereto, or as otherwise directed in writing from time to time by the SellerSellers. All income earned on the Cash Investment will be owned by the Seller Sellers and shall be distributed at least once every 365 days. The Escrow Agent will not be liable or responsible for any loss resulting from any investment or reinvestment made as provided in this Agreement at the written direction of the SellerSellers.

Appears in 6 contracts

Samples: Agreement and Plan of Reorganization (Imagemax Inc), Agreement and Plan of Reorganization (Imagemax Inc), Agreement and Plan of Reorganization (Imagemax Inc)

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Investment of Escrow Account. As soon as possible after its receipt of the Escrow Account, the Escrow Agent shall invest any cash deposited in the Escrow Account (the "Cash Investment") as set forth on Exhibit "A" attached hereto, or as otherwise directed in writing from time to time by the SellerSellers. All income earned on the Cash Investment will be owned by the Seller and shall be distributed at least once every 365 days. The Escrow Agent will not be liable or responsible for any loss resulting from any investment or reinvestment made as provided in this Agreement at the written direction of the SellerSellers.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Imagemax Inc)

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