Common use of Investment of Funds by Escrow Agent Clause in Contracts

Investment of Funds by Escrow Agent. Escrow Agent shall invest and reinvest all amounts from time to time credited to the Escrow Account in (a) Escrow Agent’s U.S. Treasury money market fund; (b) direct obligations of, or obligations of the principal and interest on which are unconditionally guaranteed by, the United States of America; (c) repurchase agreements fully collateralized by securities described in clause (b) above; (d) money market accounts maturing within 30 days of the acquisition thereof and issued by a bank or trust company organized under the laws of the United States of America or of any of the 50 states thereof(a “United States Bank”) and having combined capital, surplus and undistributed profits in excess of $50,000,000; (e) demand deposits with any United States Bank having combined capital, surplus and undistributed profits in excess of $50,000,000; or (f) as directed in joint written instructions received from IdleAire and Petro.

Investment of Funds by Escrow Agent. Escrow Agent shall invest and reinvest all amounts from time to time credited to the Escrow Account in (a) Escrow Agent’s U.S. Treasury money market fund; (b) direct obligations of, or obligations of the principal and interest on which are unconditionally guaranteed by, the United States of America; (c) repurchase agreements fully collateralized by securities described in clause (b) above; (d) money market accounts maturing within 30 days of the acquisition thereof and issued by a bank or trust company organized under the laws of the United States of America or of any of the 50 states thereof(a thereof (a “United States Bank”) and having combined capital, surplus and undistributed profits in excess of $50,000,000; (e) demand deposits with any United States Bank having combined capital, surplus and undistributed profits in excess of $50,000,000; or (f) as directed in joint written instructions received from IdleAire and PetroTA. Escrow Agent shall provide quarterly statements to both IdleAire and TA showing account balance, investment holdings, income, expenses and any disbursements occurring during the quarter.