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 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. The Escrow Agent shall, as soon as possible upon receipt of the Escrow Amount, invest the Escrow Amount in (i) term deposits or guaranteed investment certificates with a Schedule I Canadian Chartered Bank or (ii) such other investment as the Seller and the Buyer shall jointly instruct from time to time in writing on reasonable notice to the Escrow Agent, in each case denominated in US dollars. The Escrow Agent (i) makes no representation as to the nature or quality of the investment, including as to return of capital, income, profit, yield or return available or to be earned upon the Escrow Amount and (ii) shall bear no liability for any failure to achieve the maximum possible or desired yield or return from the Escrow Amount or for diminution of value of the amounts invested by it in accordance with the terms hereof. The ultimate beneficiary or beneficiaries of the Escrow Amount shall be responsible for and shall pay any and all tax liabilities with respect to income generated by the Escrow Amount. All interest and other income earned on the Escrow Amount shall be considered currently reportable income of such beneficiary or beneficiaries for income tax purposes. The Escrow Agent shall annually file information returns with the Canada Revenue Agency and payee statements with the Buyer and the Seller documenting such interest payments, provided that the Buyer and the Seller shall have promptly following the date hereof provided the Escrow Agent with the forms necessary to complete such information returns and payee statements. All interest accruing from the date of this Agreement on the Escrow Amount or any part thereof held by the Escrow Agent shall accrue to the benefit of the party to which the portion of the Escrow Amount to which the interest relates is paid.
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.
