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.
Appears in 5 contracts
Samples: Escrow Services Agreement (Teraphysics Corp), Escrow Services Agreement (Golden Pacific Homes, LLC), Escrow Services Agreement (Teraphysics Corp)
