Investment of Escrowed Property. The Escrow Agent on the second business day ("business day" defined for purposes of this Escrow Agreement as any day which is not a Saturday, a Sunday or a day on which banks or trust companies in the City and State of New York are authorized or obligated by law, regulation or executive order to remain closed) succeeding (unless such deposit is made in federal or other immediately available or "same day" funds, in which case, on the business day next succeeding) the credit of any subscription proceeds to the Escrow Account pursuant to Section 2 and until release of such proceeds in accordance with the terms hereof, shall deposit such proceeds in a Citibank Money Market Deposit Account, pursuant to Rule 15c2-4 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, in accordance with the terms set forth on Exhibit A hereto (made a part of this Escrow Agreement as if herein set forth). The Escrow Agent shall in no event be liable for any loss resulting from any change in interest rates applicable to proceeds invested pursuant to this Section. Interest on proceeds invested pursuant to this Section shall accrue from the date of investment of such proceeds until the termination of such investment pursuant to the terms hereof and shall be paid as set forth in Section 5.
Investment of Escrowed Property. The Escrow Agent, on the second business day ("business day" ----------------------------------------- defined for purposes of this Escrow Agreement as any day which is not a Saturday, a Sunday or a day on which banks or trust companies in The City and State of New York are authorized or obligated by law, regulation or executive order to remain closed) succeeding (unless such deposit is made in federal or other immediately available or "same day" funds, in which case, on the same business day) the credit of any subscription proceeds to the Escrow Account pursuant to Section 2 and until release of such proceeds in accordance with the terms hereof, shall invest such proceeds in any Money Market governed under the 1940 Act and 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 subcustodian, 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 Agreement. (made a part of this Escrow Agreement as if herein set forth on Exhibit A). The Escrow Agent shall in no event be liable for any loss resulting from any change in interest rates applicable to proceeds invested pursuant to this section. Interest on proceeds invested pursuant to this Section shall accrue from the date of investment of such proceeds until the termination of such investment pursuant to the terms hereof and shall be paid as set forth in Section 5. The Escrow Agent shall have no obligation to invest or reinvest the Escrow Property if deposited with the Escrow Agent after 11:00 a.m. (E.S.T.) on such day of deposit instructions received after 11:00 a.m. (E.S.T.) will be treated as if received on the following business day. Neither Citigroup nor any of its affiliates assume any duty or liability for monitoring the investment rating. 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.
Investment of Escrowed Property. Upon written directions from the Grantor, the Escrow Agent shall invest or reinvest the Escrowed Property, without distinction between principal and income, in Escrow Eligible Investments selected by the Grantor. “
Investment of Escrowed Property. The Escrow Agent shall, from time to time invest and reinvest the Escrowed Property, if any, in such of the following investments as the Buyer and the Seller may from time to time elect by joint notice in writing ("Permitted Investments"):
(i) Any U.S. Government or U.S. Government Agency security;
(ii) Any commercial paper rated A1/P1 or better;
(iii) Any certificate of deposit or time deposit in any bank with a long-term debt rating of A or better from Xxxxx'x Investors Services Inc. or Standard & Poor's Corporation;
(iv) The Xxxxx Fargo 100% Treasury Fund; or
(v) The following institutional money market funds:
(1) Dreyfus Treasury Cash Management Fund (2) Federated Treasury Obligations Fund (3) AIM Treasury Portfolio In the absence of joint written instructions to the contrary from the Buyer and the Seller, the Escrow Agent shall invest the Escrowed Property in Permitted Investments set forth in clause (iv) of this Section 4(a).
Investment of Escrowed Property. Other than the deposit of the above- ------------------------------- described funds into the Account, Escrow Agent shall be under no obligation to invest the Escrowed Property.
Investment of Escrowed Property. The Escrow Agent is authorized and directed, and agrees promptly to deposit the Escrowed Property including without limitation the Initial Deposit in the Escrow Account and hereby agrees to treat any such investment as a “Financial Asset” within the meaning of Section 8-102(a)(9) of the NY UCC. The Escrowed Property shall be invested by the Escrow Agent in U.S. Bank Money Market Account – CUSIP 0XXXX00X0. The Grantor and Trustee acknowledge receipt of the prospectus for such fund at the time of execution of this Agreement.
Investment of Escrowed Property. The Escrow Agent on or before 12:00 p.m., Eastern Daylight Time, on the second business day succeeding (unless such deposit is made in federal or other immediately available or "same day" funds, in which case, by 12:00 p.m., Eastern Daylight Time, on the business day next succeeding) the credit of any Subscription Payments to the Escrow Account pursuant to Section 2 hereof and until release of such proceeds in accordance with the terms hereof, shall deposit such Subscription Payments in the Escrow Account. The Escrow Agent shall in no event be liable for any investment loss, resulting from any change in interest rates applicable to proceeds invested pursuant to this Section. Interest on proceeds invested pursuant to this Section 3 shall accrue from the date of investment of such proceeds until the termination of such investment pursuant to the terms hereof and shall be paid as set forth in Section 5 hereof.
Investment of Escrowed Property. The Escrow Agent on or before 12:00 p.m., Eastern Daylight Time, on the second business day succeeding (unless such deposit is made in federal or other immediately available or "same day" funds, in which case, by 12:00 p.m., Eastern Daylight Time, on the business day next succeeding) the credit of any Subscription Payments to the Escrow Account pursuant to Section 2 hereof and until release of such proceeds in accordance with the terms hereof, shall deposit such Subscription Payments in the non-interest bearing Escrow Account.
Investment of Escrowed Property. The Escrow Agent on or before the second business day ("business day" defined for purposes of this Escrow Agreement as any day which is not a Saturday, a Sunday or a day on which banks or trust companies in the City and State of New York are authorized or obligated by law, regulation or executive order to remain closed) succeeding (unless such deposit is made in federal or other immediately available or "same day" funds, in which case, on the business day next succeeding) the credit of any subscription proceeds to the Escrow Account pursuant to Section 2 and until release of such proceeds in accordance with the terms hereof, shall deposit such proceeds in a non-interest bearing account, pursuant to Rule 15c2-4 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended.
Investment of Escrowed Property. The Escrow Agent shall, from time to time invest and reinvest the Escrowed Property, if any, in such of the following investments as the Buyer and the Seller may from time to time elect by joint notice in writing ("Permitted Investments"):
(i) Any U.S. Government or U.S. Government Agency security;
(ii) Any commercial paper rated A1/P1 or better;
(iii) Any certificate of deposit or time deposit in any bank with a long-term debt rating of A or better from Xxxxx'x Investors Services Inc. or Standard & Poor's Corporation;
(iv) The Xxxxx Fargo 100% Treasury Fund; or
(v) The following institutional money market funds: