Common use of Investment of Escrow Fund Clause in Contracts

Investment of Escrow Fund. The Escrow Agent shall invest and reinvest moneys on deposit in the Escrow Fund, unless joint written notice to the contrary is received from the Sellers and the Buyer, in any combination of the following: (a) readily marketable direct obligations of the government of the United States or any agency or instrumentality thereof or readily marketable obligations unconditionally guaranteed by the full faith and credit of the government of the United States, (b) insured certificates of deposit of, or time deposits with, any commercial bank that is a member of the Federal Reserve System and which issues (or the parent of which issues) commercial paper rated as described in clause (c), is organized under the laws of the United States or any state thereof and has combined capital and surplus of at least $1 billion or (c) commercial paper in an aggregate amount of no more than $500,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any state of the United States, rated at least "Prime-1" (or the then equivalent grade) by Xxxxx'x Investors Services, Inc. or "A-1" (or the then equivalent grade) by Standard & Poor's, a division of The XxXxxx-Xxxx Companies, Inc. 8.

Investment of Escrow Fund. (a) The Escrow Agent shall invest and reinvest moneys on deposit in the Escrow Fund, unless joint written notice to the contrary is received from the Sellers and the BuyerCompany, in any combination of the following: (ai) readily marketable direct obligations of the government Government of the United States or any agency or instrumentality thereof or readily marketable obligations unconditionally guaranteed by the full faith and credit of the government Government of the United States, ; (bii) insured certificates of deposit of, or time deposits with, any commercial bank that is a member of the Federal Reserve System and which issues (or the parent of which issues) commercial paper rated as described in clause (ciii), is organized under the laws of the United States or any state State thereof and has combined capital and surplus of at least $1 billion billion; or (ciii) commercial paper in an aggregate amount of no more than $500,000 1,000,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any state State of the United States, rated at least "“Prime-1" ” (or the then equivalent grade) by Xxxxx'x Xxxxx’x Investors Services, Inc. or "“A-1" ” (or the then equivalent grade) by Standard & Poor'sPoors, a division of The XxXxxx-Xxxx Companies, Inc. 8.Inc.

Investment of Escrow Fund. (a) The Escrow Agent shall invest and reinvest moneys on deposit in the Escrow Fund, unless joint written notice to the contrary is received from the Sellers and the BuyerCompany, in any combination of the following: (ai) readily marketable direct obligations of the government Government of the United States or any agency or instrumentality thereof or readily marketable obligations unconditionally guaranteed by the full faith and credit of the government Government of the United States, ; (bii) insured certificates of deposit of, or time deposits with, any commercial bank that is a member of the Federal Reserve System and which issues (or the parent of which issues) commercial paper rated as described in clause (ciii), is organized under the laws of the United States or any state State thereof and has combined capital and surplus of at least $1 billion billion; or (ciii) commercial paper in an aggregate amount of no more than $500,000 1,000,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any state State of the United States, rated at least "“Prime-1" ” (or the then equivalent grade) by Xxxxx'x Xxxxx’x Investors ServicesService, Inc. or "“A-1" ” (or the then equivalent grade) by Standard & Poor'sPoors, a division of The XxXxxx-Xxxx Companies, Inc. 8.Inc.

Investment of Escrow Fund. The Escrow Agent shall invest and reinvest moneys on deposit in the Escrow Fund, unless joint written notice to the contrary is received from the Sellers and the Buyer, in any combination of the following: (a) readily marketable direct obligations of the government of the United States or any agency or instrumentality thereof or readily marketable obligations unconditionally guaranteed by the full faith and credit of the government of the United States, (b) insured certificates of deposit of, or time deposits with, any commercial bank that is a member of the Federal Reserve System and which issues (or the parent of which issues) commercial paper rated as described in clause (c), is organized under the laws of the United States or any state thereof and has combined capital and surplus of at least $1 billion or (c) commercial paper in an aggregate amount of no more than $500,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any state of the United States, rated at least "Prime-1" (or the then equivalent grade) by Xxxxx'x Moody's Investors Services, Inc. or "A-1" (or the then equivalent gradegxxxx) by xy Standard & Poor's, a division of The XxXxxxMcGraw-Xxxx Hill Companies, Inc. 8.Inc.

Investment of Escrow Fund. (a) The Escrow Lock Box Agent shall invest and reinvest moneys on deposit in the Escrow Fund, unless joint written notice to the contrary is received from the Sellers Company and the BuyerShareholders, in any combination of the following: (ai) readily marketable direct obligations of the government Government of the United States or any agency or instrumentality thereof or readily marketable obligations unconditionally guaranteed by the full faith and credit of the government Government of the United States, (bii) insured certificates of deposit of, or time deposits with, any commercial bank that is a member of the Federal Reserve System and which issues (or the parent of which issues) commercial paper rated as described in clause (ciii), is organized under the laws of the United States or any state State thereof and has combined capital and surplus of at least $1 billion billion, or (ciii) commercial paper in an aggregate amount of no more than $500,000 1,000,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any state State of the United States, rated at least "“Prime-1" ” (or the then equivalent grade) by Xxxxx'x Xxxxx’x Investors Services, Inc. or "“A-1" ” (or the then equivalent grade) by Standard & Poor'sPoors, a division of The XxXxxx-Xxxx Companies, Inc. 8.Inc.