Common use of Investment of Escrow Property Clause in Contracts

Investment of Escrow Property. Escrow Agent shall invest or reinvest Escrow Property, without distinction between principal and income, in accordance with written instructions delivered to the Escrow Agent specifying any one or more of the following investments from the Depositors designated herein. Initially, until otherwise directed in writing the Escrow Property shall be invested in Fidelity Institutional Prime Money Market Fund III (691). The permitted investments shall be limited to money market funds having a rating in the highest investment category granted thereby by a recognized credit rating agency at the time of acquisition, including any fund for which the Escrow Agent or an Affiliate of the Escrow Agent serves as an investment advisor, administrator, shareholder servicing agent, custodian or sub-custodian, notwithstanding that (A) the Escrow Agent or an Affiliate of the Escrow Agent charges and collects fees and expenses from such funds for services rendered (provided that such charges, fees and expenses are on terms consistent with terms negotiates at arm's length) and (B) the Escrow Agent charges and collects fees and expenses for services rendered, pursuant to this Escrow Agreement. The Escrow Agent shall have no obligation to invest or reinvest the Escrow Funds if all or a portion of the Escrow Funds is deposited with the Escrow Agent after 12:00 noon (E.S.T.) on the day of deposit. Instructions to invest or reinvest that are received after 12:00 noon (E.S.T.) will be treated as if received on the following business day in New York. The Escrow Agent shall have the power to sell or liquidate the foregoing investments or any Escrow Property whenever the Escrow Agent shall be required to release the Escrow Property pursuant to the terms hereof. The Escrow Agent shall have no responsibility for the sale of any Escrow Property or for any investment losses resulting from the investment, reinvestment or liquidation of the Escrow Property so long as invested, reinvested or liquidated in accordance with the terms hereof. Any interest or other income received on such investment and reinvestment of the Escrow Property shall become part of the Escrow Property. If a selection is not made, the Escrow Property shall remain uninvested with no liability for interest therein. Any investment direction contained herein may be executed through an affiliated broker dealer of the Escrow Agent and shall be entitled to such usual and customary fee. Neither Citigroup nor any of its affiliates assume any duty or liability for monitoring the investment rating.

Investment of Escrow Property. (a) Escrow Agent shall invest or reinvest Escrow Property, without distinction between principal and income, in accordance with written instructions delivered by NEW to the Escrow Agent specifying any one or more of the following investments from the Depositors designated herein. InitiallyFor each security listed below exact name of security, until otherwise directed in writing the CUSIP number, trade and settlement dates, rate, par amount, proceeds and interest amount, maturity date and broker must be included. (1) Any U.S. Government or U.S. Government security; (2) Any commercial paper rated A1/P1 or better having the best yield or price available at the time the trade is executed. Be advised that due to the potential conflict of interest, Escrow Agent will not purchase Citigroup or any affiliate commercial paper (collectively "Citigroup Paper" unless the Depositor(s) specifically authorizes the Escrow Property shall Agent, in writing, that it is authorized to purchase Citigroup Paper. Authorization for the purchase of Citigroup Paper must be invested in Fidelity Institutional Prime given by the Depositor(s) on a transaction by transaction basis; (3) Money Market Fund III (691). The permitted investments shall be limited to money market funds having a rating in the highest investment category granted thereby by a recognized credit rating agency at the time of acquisition, including any fund for which the Escrow Agent or an Affiliate of the Escrow Agent serves as an investment advisor, administrator, shareholder servicing agent, custodian or sub-custodian, notwithstanding that (A) the Escrow Agent or an Affiliate of the Escrow Agent charges and collects fees and expenses from such funds for services rendered (provided that such charges, fees and expenses are on terms consistent with terms negotiates at arm's length) and (B) the Escrow Agent charges and collects fees and expenses for services rendered, pursuant to this Escrow Agreement. . (b) The Escrow Agent shall have no obligation to invest or reinvest the Escrow Funds if all or a portion of the Escrow Funds is deposited with the Escrow Agent after 12:00 noon 11:00 a.m. (E.S.T.) on the day of deposit. Instructions to invest or reinvest that are received after 12:00 noon 11:00 (E.S.T.E.S.T) will be treated as if received on the following business day in New York. . (c) The Escrow Agent shall have the power to sell or liquidate the foregoing investments or any Escrow Property whenever the Escrow Agent shall be required to release the Escrow Property pursuant to the terms hereof. The Escrow Agent shall have no responsibility for the sale of any Escrow Property or for any investment losses resulting from the investment, reinvestment or liquidation of the Escrow Property so long as invested, reinvested or liquidated in accordance with the terms hereof. Any interest or other income received on such investment and reinvestment of the Escrow Property shall become part of the Escrow Property. If a selection is not made, the Escrow Property shall remain uninvested with no liability for interest therein. It is agreed and understood that the Escrow Agent may earn fees associated with the investments outlined above. (d) Any investment direction contained herein may be executed through an affiliated broker dealer of the Escrow Agent and shall be entitled to such usual and customary fee. Neither Citigroup nor any of its affiliates assume any duty or liability for monitoring the investment rating. (e) Escrow Agent shall have no liability for any loss arising from or related to any such investment other than in accordance with paragraph 4 of the Terms and Conditions.

Investment of Escrow Property. The Escrow Agent shall initially invest the Cash Deposit in “Citi Institutional Cash Reserves (234)”, an onshore money market fund having a Standard & Poor’s Ratings Services rating of not less than “AAAm” and thereafter the Escrow Agent shall invest or reinvest Escrow Property, without distinction between principal and income, in accordance with joint written instructions delivered by the Payors to the Escrow Agent specifying any one or more of the following investments from the Depositors designated herein. Initiallylisted on Exhibit F hereto, until otherwise directed in writing the Escrow Property shall be invested in Fidelity Institutional Prime Money Market Fund III (691). The permitted provided such investments shall be limited to money market funds having maintain a rating in the highest investment category granted thereby of at least “AAAm” by a recognized credit rating agency at the time of acquisitionStandard & Poor’s Ratings Services or “Aaa” by Xxxxx’x Investors Service, including any fund for which the Escrow Agent or an Affiliate of the Escrow Agent serves as an investment advisor, administrator, shareholder servicing agent, custodian or sub-custodian, notwithstanding that (A) the Escrow Agent or an Affiliate of the Escrow Agent charges and collects fees and expenses from such funds for services rendered (provided that such charges, fees and expenses are on terms consistent with terms negotiates at arm's length) and (B) the Escrow Agent charges and collects fees and expenses for services rendered, pursuant to this Escrow Agreement. Inc. The Escrow Agent shall have no obligation to invest or reinvest the Escrow Funds Property if all or a portion of the Escrow Funds Property is deposited with the Escrow Agent after 12:00 noon 11:00 a.m. (E.S.T.) on the day of deposit. Instructions to invest or reinvest that are received after 12:00 noon 11:00 a.m. (E.S.T.) will be treated as if received on the following business day Business Day in New York. The Escrow Agent shall have the power to sell or liquidate the foregoing investments or any Escrow Property whenever the Escrow Agent shall be required to release the Escrow Property pursuant to the terms hereof. The Escrow Agent shall have no responsibility for the sale of any Escrow Property or for any investment losses resulting from the investment, reinvestment or liquidation of the Escrow Property so long as investedProperty, reinvested provided that the Escrow Agent has made such investment, reinvestment or liquidated liquidation in accordance with the terms hereofof this Agreement. Any interest or other income received on such investment and reinvestment of the Escrow Property shall become part of the Escrow Property. If a selection It is not made, agreed and understood that the Escrow Property shall remain uninvested Agent may earn fees associated with no liability for interest thereinthe investments outlined above. Any investment direction contained herein may be executed through an affiliated broker dealer of the Escrow Agent and shall be entitled to such usual and customary fee. Neither Citigroup nor any of its affiliates assume any duty or liability for monitoring the investment rating. The Escrow Agent shall have no liability for any loss arising from or related to any such investment other than in accordance with Section 5 hereof.

Investment of Escrow Property. (a) Escrow Agent shall invest or reinvest Escrow Property, without distinction between principal and income, in accordance with written instructions delivered by NEW to the Escrow Agent specifying any one or more of the following investments from the Depositors designated herein. InitiallyFor each security listed below exact name of security, until otherwise directed in writing the CUSIP number, trade and settlement dates, rate, par amount, proceeds and interest amount, maturity date and broker must be included. (1) Any U.S. Government or U.S. Government security; (2) Any commercial paper rated A1/P1 or better having the best yield or price available at the time the trade is executed. Be advised that due to the potential conflict of interest, Escrow Agent will not purchase Citigroup or any affiliate commercial paper (collectively "Citigroup Paper") unless the Depositor(s) specifically authorizes the Escrow Property shall Agent, in writing, that it is authorized to purchase Citigroup Paper. Authorization for the purchase of Citigroup Paper must be invested in Fidelity Institutional Prime given by the Depositor(s) on a transaction by transaction basis; (3) Money Market Fund III (691). The permitted investments shall be limited to money market funds having a rating in the highest investment category granted thereby by a recognized credit rating agency at the time of acquisition, including any fund for which the Escrow Agent or an Affiliate of the Escrow Agent serves as an investment advisor, administrator, shareholder servicing agent, custodian or sub-custodian, notwithstanding that (A) the Escrow Agent or an Affiliate of the Escrow Agent charges and collects fees and expenses from such funds for services rendered (provided that such charges, fees and expenses are on terms consistent with terms negotiates at arm's length) and (B) the Escrow Agent charges and collects fees and expenses for services rendered, pursuant to this Escrow Agreement. . (b) The Escrow Agent shall have no obligation to invest or reinvest the Escrow Funds if all or a portion of the Escrow Funds is deposited with the Escrow Agent after 12:00 noon 11:00 a.m. (E.S.T.) on the day of deposit. Instructions to invest or reinvest that are received after 12:00 noon 11:00 a.m. (E.S.T.) will be treated as if received on the following business day in New York. . (c) The Escrow Agent shall have the power to sell or liquidate the foregoing investments or any Escrow Property whenever the Escrow Agent shall be required to release the Escrow Property pursuant to the terms hereof. The Escrow Agent shall have no responsibility for the sale of any Escrow Property or for any investment losses resulting from the investment, reinvestment or liquidation of the Escrow Property so long as invested, reinvested or liquidated in accordance with the terms hereof. Any interest or other income received on such investment and reinvestment of the Escrow Property shall become part of the Escrow Property. If a selection is not made, the Escrow Property shall remain uninvested with no liability for interest therein. It is agreed and understood that the Escrow Agent may earn fees associated with the investments outlined above. (d) Any investment direction contained herein may be executed through an affiliated broker dealer of the Escrow Agent and shall be entitled to such usual and customary fee. Neither Citigroup nor any of its affiliates assume any duty or liability for monitoring the investment rating. (e) Escrow Agent shall have no liability for any loss arising from or related to any such investment other than in accordance with paragraph 4 of the Terms and Conditions.