Investment of Escrow Cash. Upon receipt of any cash, including upon the sale or liquidation of, or the declaration of any cash dividend or distribution in respect of, any Escrow Shares (any such cash, the "Escrow Cash"), the Escrow Agent shall invest and re-invest such cash (i) solely at the risk of the beneficiaries of the Escrow Account; (ii) in the name of the Escrow Agent or its nominee; and (iii) in such amounts and in such Permitted Investments (as defined below) as DGSE may designate in writing from time to time. Income, if any, resulting from the investment of the Escrow Cash or the liquidation of Permitted Investments shall be retained by the Escrow Agent and will be considered, for all purposes of this Agreement, to be part of the Escrow Cash deposited in the Escrow Account. "Permitted Investments" means an investment in any of the following accounts, securities and instruments: (i) demand deposits, certificates of deposit, bankers acceptances, time deposits and other deposit accounts with commercial banks organized under the laws of the United States of American, or any State thereof, having an aggregate capital and surplus in excess of $100,000,000 and, to the extent applicable, having a maturity of not more than 180 days from the date of investment therein; (ii) investments in marketable direct obligations of, or obligations unconditionally and fully guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America) and maturing not more than one year from the date of investment therein; (iii) open market commercial paper rated at least "A1" or "P1" or better by a nationally recognized statistical rating organization and maturing not more than one year from the issuance thereof; (iv) money market and other mutual funds invested solely in (A) the types of Permitted Investments described in clauses (i) through (iii), inclusive, of this definition of Permitted Investments, and (B) investments pursuant to or arising under currency agreements or interest rate agreements entered into in the ordinary course of business. Any interest earnings from any Permitted Investment shall be credited upon receipt by the Escrow Agent to the Escrow Fund. [ DGSE and the Stockholder Agent each hereby acknowledges that pursuant to national banking regulations, it has been informed that it is entitled to receive separate written notification of every security transaction effected for the E...
Investment of Escrow Cash. (a) The Escrow Agent shall hold the Escrow Cash in escrow and shall invest the Escrow Cash and any interest or income thereon only in Permitted Investments. “
Investment of Escrow Cash. (a) If the Escrow Agent will have received specific written investment instruction from MHRx (which instructions will include instruction as to term to maturity, if applicable), on a timely basis, the Escrow Agent will invest the Merger Consideration Cash and the SPA Cash in any combination of the following investments; provided, however, that the Escrow Agent will not invest the Merger Consideration Cash or the SPA Cash in any way in which either the Merger Consideration Cash or the SPA Cash would not be available for distribution upon the Escrow Release Date:
Investment of Escrow Cash. The Escrow Agent shall maintain the Escrow Cash in one or more interest-bearing accounts. During the term of this Agreement, the Escrow Cash shall be invested and reinvested by the Escrow Agent, in one or more of the investments set forth on Exhibit 1.5 to the extent permitted by law and as directed in writing by the Sellers’ Committee. The Escrow Agent shall have the right to liquidate any such investments in order to provide funds necessary to make required payments under this Agreement. Neither the Escrow Agent, Parent nor Buyer shall have any liability for any loss sustained as a result of any investment made pursuant to the written direction of the Sellers’ Committee or as a result of any liquidation of any such investment prior to its maturity, or for the failure of the Sellers’ Committee to give the Escrow Agent written directions to invest or reinvest the Escrow Cash. All interest and other income earned by the investment, reinvestment and/or deposit of the Escrow Cash in accordance with this Section 1.5 shall be deemed to be part of the Escrow Cash.
Investment of Escrow Cash. (i) The Escrow Cash shall be invested in U.S. Treasury Notes or Bills or certificates of deposit or “money market” accounts of banks or trust companies organized in the United States having a minimum net worth of $1 billion, in each case with maturity dates not later than the earlier of (i) 30 days after the date of investment and (ii) the Expiration Date, as shall be set forth in a written direction from Acquiror to the Escrow Agent. In the absence of written direction from Acquiror to the Escrow Agent, the Escrow Cash shall be invested in a U.S. Bank Money Market Account, which is insured by the FDIC (refer to attached Appendix III for account description and terms). The Escrow Agent shall pay to the party or parties entitled to delivery of all or any portion of the Escrow Cash when, as and if such Escrow Cash is required to be delivered to such party or parties pursuant to the terms of this Agreement, the amount of income actually received, if any, from the investment of the cash comprising such Escrow Cash in accordance with the terms of this Agreement. The Escrow Agent may make any investments through its own investment department or that of its affiliates. The Escrow Agent shall not be liable for any loss from such investments, including upon the sale or disposition of any investments. The Escrow Agent will act upon investment instructions the day that such instructions are received, provided the requests are communicated within a sufficient amount of time to allow the Escrow Agent to make the specified investment. Instructions received after an applicable investment cutoff deadline will be treated as being received by the Escrow Agent on the next business day, and the Escrow Agent shall not be liable for any loss arising directly or indirectly, in whole or in part, from the inability to invest funds on the day the instructions are received. The Escrow Agent shall not be liable for any loss incurred by the actions of third parties or by any loss arising by error, failure, or delay in making an investment which is caused by circumstances beyond the Escrow Agent’s reasonable control.
Investment of Escrow Cash. The Escrow Agent shall invest cash, if any, in the Escrow Fund in the SSgA U.S. Treasury Money Market Fund, which is a money market mutual fund registered under the Investment Company Act of 1940, the principal of which is invested solely in obligations issued or guaranteed by the United States Government. All interest or any other income earned with respect to such investment shall be retained by the Escrow Agent as part of the Escrow Fund until distributed in accordance with other provisions of this Agreement. For tax reporting purposes, all such income shall be allocated to the Sellers in
Investment of Escrow Cash. The Escrow Agent shall invest Escrow Cash in the SSgA U.S. Treasury Money Market Fund or, with the prior written consent of Buyer, in another money market mutual fund registered under the Investment Company Act of 1940, the principal of which is invested solely in obligations issued or guaranteed by the United States Government. All interest or any other income earned with respect to such investment shall be retained by the Escrow Agent until distributed in accordance with the other provisions of this Agreement, at which time it will be distributed to Seller and Buyer in the same proportions as the Contract Holdback Amount is released pursuant to Section 1(b) or the Escrow Cash is released in accordance with Section 2(b) and 2(c) hereof, as applicable.
Investment of Escrow Cash. The Escrow Agent shall invest the Escrow Cash, from time to time, in the Xxxxx Fargo Government Money Market Fund #743, or such similar or successor fund offered by the Escrow Agent, or such other investments designated in writing jointly by the Buyer and the Sellers’ Representative. Such investments of the Escrow Cash may be executed by the Escrow Agent’s own bond department. The proceeds of all investments made hereunder (the “Escrow Proceeds”) shall be distributed in accordance with this Agreement. The Escrow Agent shall deliver monthly statements to the Buyer and the Sellers’ Representative in accordance with the Escrow Agent’s regular practice. The parties hereby agree that, except for the foregoing, the Escrow Agent shall have no obligations to monitor, or advise the parties with respect to, such investments.
Investment of Escrow Cash. Escrow Agent shall invest Escrow Cash ------------------------- as directed in writing by Shareholder's Agents in any of the following:
Investment of Escrow Cash. Until the termination of this Agreement, the Escrow Cash shall be fully invested (as directed by the Company by written instruction to the Escrow Agent) solely in one or more of the investments referred to below:
