Investment of Escrow Deposit. Following the delivery of the Escrow Deposit to Escrow Agent, Escrow Agent shall cause any cash in the Escrow Deposit to be deposited in an interest bearing account, designated as the "PPLUS Trust Series RRD-1 Warrant Escrow Account," and shall advise the Trust by telephone by 5:00 p.m., New York City time, on the date hereof of the amount so deposited in its account. The Escrow Agent will promptly confirm such telephone advice in writing to the Trust. The Escrow Agent is hereby directed to invest any cash in the Escrow Deposit in (i) U.S. Treasury Securities or (ii) money market accounts in banks having combined capital, surplus and undivided profits of $50,000,000 or more. All investments shall [have a maturity of ________ days or less during the _______ days immediately after deposit of the Escrow Deposit, and thereafter shall] be available on demand without penalty unless Escrow Agent is otherwise directed in writing by both the Holder and the Trust.
Investment of Escrow Deposit. Following the delivery of the Escrow Deposit to Escrow Agent, Escrow Agent shall cause the Escrow Deposit to be deposited in an interest bearing account, designated as the "PreferredPlus Trust Series BLC-1 Warrant Escrow Account," and shall advise the Trust by telephone by 5:00 p.m., New York City time, on the date hereof of the amount so deposited in its account. The Escrow Agent will promptly confirm such telephone advice in writing to the Trust. The Escrow Agent is hereby directed to invest the Escrow Deposit in (i) U.S. Treasury Securities or (ii) money market accounts in banks having combined capital, surplus and undivided profits of $50,000,000 or more. All investments shall [have a maturity of ________ days or less during the _______ days immediately after deposit of the Escrow Deposit, and thereafter shall] be available on demand without penalty unless Escrow Agent is otherwise directed in writing by both the Holder and the Trust.
Investment of Escrow Deposit. Until the termination of this Agreement, the Escrow Deposit, together with any interest earned thereon, shall be invested pursuant to the written instructions of HWG, LLC, which may be sent to the Escrow Agent from time to time, solely in one or more of the investments referred to below:
Investment of Escrow Deposit. The Escrow Agent shall cause the Escrow Deposit from time to time to be invested and reinvested in such short-term, high-grade securities, interest-bearing bank accounts, bank certificates of deposit or bank repurchase agreements as Company, in its discretion, deems suitable, and all interest thereon shall be added to the Escrow Deposit.
Investment of Escrow Deposit. All funds received by the Escrow Agent pursuant to this Agreement shall be invested, to the extent practicable, in deposit accounts or certificates of deposit which are insured by the Federal Deposit Insurance Corporation or another agency of the United States government, short-term securities issued or fully guaranteed by the United States government, federal funds, or such other investments as the Escrow Agent and the Company shall agree. All investments shall comply with applicable laws, rules, and regulations, including Rule 15c2-4 under the Securities Exchange Act of 1934. The Company shall provide the Escrow Agent with instructions from time to time concerning in which of the specific investment instruments described above the Escrowed Funds shall be invested, and the Escrow Agent shall adhere to such instructions. Unless and until otherwise instructed by the Company, the Escrow Agent shall invest the Escrowed Funds in Escrow Agent’s Business Money Market Account. Interest will begin accruing no later than the next business day after receipt.
Investment of Escrow Deposit. All funds received by the Escrow Agent pursuant to this Restated Agreement shall be invested in compliance with applicable laws, rules and regulations, including Rule 15(c)(2-4) under the Securities Exchange Act of 1934 and applicable requirements of regulatory agencies. To the extent permissible thereunder, such funds may be invested in deposit accounts or certificates of deposit which are insured by the Federal Deposit Insurance Corporation or another agency of the United States government, short-term securities issued or fully guaranteed by the United States government, federal funds, or such other investments as the Escrow Agent and the Company shall agree, provided such investments may be liquidated without penalty within one business day. The Company shall provide the Escrow Agent with instructions from time to time concerning in which of the specific investment instruments described above the Escrowed Funds shall be invested, and the Escrow Agent shall adhere to such instructions. Unless and until otherwise instructed by the Company, the Escrow Agent shall invest the Escrowed Funds in an interest bearing account that complies with such laws, rules, regulations and requirements. Interest will begin accruing no later than the next business day after receipt. Incoming wire transfers received by 6:00 P.M. (ET) will be posted as soon as feasible. Incoming wire transfers received without a Subscription Agreement will be posted, but returned after five business days if a Subscription Agreement has not been received by the Company. Interest and other earnings shall start accruing on such funds as soon as such funds would be deemed to be available for access under applicable banking laws and pursuant to the Escrow Agent’s own banking policies.
Investment of Escrow Deposit. The Escrow Agent shall, upon receipt of the checks remitted to it, deposit all Escrow Deposits in federally insured interest-bearing savings or money market accounts.
Investment of Escrow Deposit. Any cash held as Escrowed Property shall be invested by the Escrow Agent in an interest bearing trust account or in such other investments as Fundtech and the Representative may agree in a writing delivered to the Escrow Agent. All interest and other income earned on the Escrowed Property shall be added to, and become part of, the Escrowed Property, and the distribution thereof shall be subject to the terms of this Agreement.
Investment of Escrow Deposit. All cash held in the Escrow Deposit shall be ----------------------------- invested by the Escrow Agent in Crestfunds US Treasury Money Funds, so long as such fund is rated in the highest investment category by Standard & Poor's Rating Group or Xxxxx'x Investors Service, Inc., or in such other investments as MLC and the Representative may agree in a writing delivered to the Escrow Agent. In the event that the Crestfunds US Treasury Money Funds shall cease to be rated in the highest investment category by Standard & Poors Rating Group or Xxxxx'x Investment Service, Inc., the Escrow Agent shall notify MLC and the Representative in writing and promptly deposit all cash held in the Escrow Deposit in a fund that has such rating until such time as MLC and the Representative shall direct the Escrow Agent in writing to deposit such funds 6
Investment of Escrow Deposit. (a) The Escrow Agent shall hold the Escrow Amount subject to the terms and conditions of this Agreement. The Escrow Agent shall invest all cash held in the Escrow Deposit in any Permitted Investment (as defined below). The Escrow Agent shall not be liable to any party for any Losses incurred in connection with any investments made by it pursuant to this Section 4.
