Investment of Escrow Amount. Escrow Agent may, at its’ discretion, invest any or all of the Escrow Account balance as permitted by banking or trust company regulations. No interest shall be paid to Issuer or Subscribers on balances in the Escrow Account or in Issuers custodial account.
Investment of Escrow Amount. The Trustee may, at its discretion, invest any or all of the Escrow Account balance as permitted under SEC Rule 15c2-4. This generally means short-term investments in: (1) Bank Accounts, (2) Bank Money Market Accounts, (3) Short Term Certificates of Deposit issued by a Bank, and/or (4) Short-term Securities issued or guaranteed by the U.S. Government. Interest accumulated on the balances is the property of the Trustee as part of its Escrow Administration Fee.
Investment of Escrow Amount. The Escrow Amount shall be credited by Escrow Agent and recorded in an escrow account. Escrow Agent shall be permitted, and is hereby authorized to deposit, transfer, hold and invest all funds received under this Escrow Agreement, including principal and interest or other investment income in Xxxxx Fargo Funds Money Market Deposit Account as set forth in Exhibit A, during the period of this escrow. Escrow Agent may invest the Escrow Amount in alternative investments in accordance with written instructions as may from time to time be provided to Escrow Agent and signed by both Buyer and Seller. Any interest or other investment income received by Escrow Agent with respect to the Escrow Amount, including reinvested interest or other investment income shall become part of the Escrow Amount and shall be released in accordance with the provisions of this Escrow Agreement. The parties agree that, for tax reporting purposes, all interest or other taxable investment income earned on the Escrow Amount in any tax year shall be taxable to Buyer. The parties hereto shall on or prior to the date hereof, provide Escrow Agent with certified tax identification numbers by furnishing appropriate IRS forms W-9 or W-8 and other forms and documents that Escrow Agent may reasonably request. The parties hereto understand that if such tax reporting documentation is not so provided to Escrow Agent, Escrow Agent may be required by the Internal Revenue Code of 1986, as amended, to withhold a portion of any interest or other investment income earned on the Escrow Fund pursuant to this Escrow Agreement. To the extent that Escrow Agent becomes liable for the payment of any taxes in respect of income derived from the investment of funds held or payments made hereunder, Escrow Agent shall satisfy such liability to the extent possible from the Escrow Amount. The parties agree to indemnify and hold Escrow Agent harmless from and against any taxes, additions for late payment, interest, penalties and other expenses that may be assessed against Escrow Agent on or with respect to any payment or other activities under this Escrow Agreement unless any such tax, addition for late payment, interest, penalties and other expenses shall arise out of or be caused by the actions of, or failure to act, by Escrow Agent.
Investment of Escrow Amount. The Escrow Amount shall be deposited in the Escrow Account in accordance with Section 3 and held uninvested in the Escrow account, which shall be non-interest bearing
Investment of Escrow Amount. Escrow Agent may, at its discretion, invest any or all of the Escrow account balance as permitted under SEC Rule 15c2-4. This generally means short term investments in: (1) bank accounts, (2) bank money-market accounts, (3) short term certificates of deposit issued by a bank, and/or (4) short-term securities issued or guaranteed by the U S Government. Interest accumulated on the balance is the property of Escrow Agent as part of its Escrow Administration Fee.
Investment of Escrow Amount. The Escrow Agent may invest the Escrow Amount only in such accounts or investments as the Company may specify by written notice. The Company may only specify investment in money market instruments.
Investment of Escrow Amount. The Escrow Agent may invest the Escrow Amount only in such accounts or investments as the Company may specify by written notice. The Company may only specify by written notice. The Company may only specify investment in (1) Federal Deposit Investment Corporation insured bank accounts, (2) bank money-market accounts, (3) short-term certificates of deposit issued by a bank, or (4) short term securities issued or guaranteed by the U.S. government. The Escrow Agent shall keep accurate records of such funds, and upon request, provide the Company, the Securities and Exchange Commission or any State Securities Administrator, an account with respect thereto.
Investment of Escrow Amount. Escrow Agent may, at its discretion, invest any or all of the Escrow account balance as permitted under SEC Rule 15c2-4. This generally means short term investments in: (1) bank accounts, (2) bank money-market accounts, (3) short term certificates of deposit issued by a bank, and/or (4) short-term securities issued or guaranteed by the U S Government. Up to $5,000 in interest accumulated on the balance (the “Maximum Retained Interest”) is the property of Escrow Agent as part of its compensation. Any interest over and above the Maximum Retained Interest will be distributed to each Subscriber in the same proportion as such Subscriber’s investment bears to the gross proceeds of the Offering.
Investment of Escrow Amount. The Escrow Agent may invest the Escrow Amount only in such accounts or investments as the Company may specify by written notice. The Company may only specify investment in (1) bank accounts, (2) bank money-market accounts, (3) short-term certificates of deposit issued by a bank, or (4) short-term securities issued or guaranteed by the U.S. Government.
Investment of Escrow Amount. During the entire term of the Escrow Period, the full Escrow Amount shall be held by the Escrow Agent in a non-interest-bearing bank account as described in Section 1.1 hereof at Escrow Agent's office located at 000 Xxxx Xxxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000.
