Common use of Investment of Proceeds Clause in Contracts

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of deposit. The Escrow Agent shall hold such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “Fund”). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of deposit. The Escrow Agent shall hold such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “"Fund”"). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings interest earned thereon), and until such time as all Proceeds and earnings interest earned thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in such obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or in such national or state bank or trust company certificates of deposit. The Escrow Agent , and with such maturities, as shall hold be designated in writing from time to time by the Company, such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred writing to herein as specify the “Fund”)particular investment. Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Deposit Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner Company as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner Company to confirm in writing an instruction given by telephone shall affect effect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been bee disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in such obligations issued or guaranteed by the United States Government or any agency thereof, or in such commercial paper, or in such bank or trust company certificates of deposit. The Escrow Agent , and with such maturities, as shall hold be designated in writing fro time to time by the Company, such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred writing to herein as specify the “Fund”)particular investment. Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash ReserveDeposit reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust intrust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner Company as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner Company to confirm in writing an instruction or failure by the Company to confirm in writing an instruction given by telephone shall affect effect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of deposit. The Escrow Agent shall hold such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “Fund”). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested All funds held by the Escrow Agent without unreasonable delay and only in pursuant to this Agreement shall constitute trust property for the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in obligations issued or guaranteed by the United States Government or any agency thereof, commercial paper, or bank or trust company certificates of depositpurposes for which they are held. The Escrow Agent shall hold invest all Escrow Funds in a money market account. The earnings on the Escrow Funds shall (i) be the property of the investors (pro rata to each investor based on the Escrow Funds wired by such subscription fundsinvestor to the Escrow Agent) until the Escrow Funds are released to the Company in accordance with the terms hereof and (ii) become the property of the Company when the Escrow Funds are released to the Company in accordance with the terms hereof, together and reported in accordance with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred to herein as the “Fund”). Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Reservethis Section 7. The Escrow Agent shall not be responsible have no liability or responsibility whatsoever for interest losses, taxes or other charges on investments. Interest actually earned any loss resulting from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held any investment made in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance compliance with the terms and provisions set forth in Section 5 hereof, if, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in of this Section 2, the Agreement. The Escrow Agent shall, in anticipation of such disbursementwithout further direction from any person, sell or otherwise liquidate such investmentsdeposit as and when required pursuant to Section 3 of this Agreement. Instructions from The Company understands and acknowledges that FDIC insurance coverage will not be available for the General Partner as entire amount of the Escrow Funds deposited in the Escrow Agent's demand deposits or money market deposit accounts and that such funds not covered by FDIC insurance will not otherwise be collateralized. Earnings on the Escrow Funds will be reported to any such investments the appropriate tax authorities for the account of the investors or the sale Company, as the case may be (Company's Federal Tax I.D. No. 00-0000000) on IRS Form 1099 or such other disposition thereof substitute form as applicable. The investors or Company, as applicable, shall be confirmed in writing (but no delay or failure by provide the General Partner to confirm in writing an instruction given by telephone shall affect the validity of such instruction or result in any liability appropriate tax form W9 to the Escrow Agent for acting on or such instruction)other substitute tax form as applicable.

Investment of Proceeds. Proceeds (and any earnings thereon), and until such time as all Proceeds and earnings thereon have been disbursed from the Escrow Account as provided in Section 4 and Section 5, shall be invested and reinvested by the Escrow Agent without unreasonable delay and only in the Bank of New York Cash Reserve deposit account or, as may be designated in writing from time to time by the General Partner, in such obligations issued or guaranteed by the United States Government or any agency thereof, or in such commercial paper, or in such bank or trust company certificates of deposit. The Escrow Agent , and with such maturities, as shall hold be designated in writing from time to time by the Company, such subscription funds, together with any additions, substitutions, or other financial instruments in which such funds may be invested or for which such funds may be exchanged (collectively referred writing to herein as specify the “Fund”)particular investment. Temporarily uninvested funds held hereunder shall be deposited in The Bank of New York Cash Deposit Reserve. The Escrow Agent shall not be responsible for interest losses, taxes or other charges on investments. Interest actually earned from the time the Proceeds are deposited into the Escrow Account until the close of business on the date preceding the date the Proceeds are disbursed by the Escrow Agent as provided herein shall be held in trust for the Subscribers and, upon the occurrence of the conditions set forth in Section 4 and Section 5 hereof, shall be payable in accordance with the provisions set forth in Section 5 hereof, if. If, at the time the Escrow Agent is required to make a disbursement pursuant to Section 5, the Proceeds are invested as provided in this Section 2, the Escrow Agent shall, in anticipation of such disbursement, sell or otherwise liquidate such investments. Instructions from the General Partner Company as to any such investments or the sale or other disposition thereof shall be confirmed in writing (but no delay or failure by the General Partner Company to confirm in writing an instruction given by telephone shall affect effect the validity of such instruction or result in any liability to the Escrow Agent for acting on such instruction).