Common use of Investment of Subscription Proceeds Clause in Contracts

Investment of Subscription Proceeds. The Subscription Proceeds shall be deposited in an interest bearing account maintained by the Escrow Agent. Subscription Proceeds may be temporarily invested by the Escrow Agent only in income producing short-term, highly liquid investments secured by the United States government where there is appropriate safety of principal, such as U.S. Treasury Bills. The interest earned shall be added to the Subscription Proceeds and disbursed in accordance with the provisions of Paragraph 4 or 5 of this Agreement, as the case may be.

Investment of Subscription Proceeds. The Subscription Proceeds shall be deposited in an interest bearing account maintained by the Escrow Agent. Subscription Proceeds may be temporarily invested by the Escrow Agent only in income producing short-term, highly liquid investments secured by the United States government where there is appropriate safety of principal, such as U.S. Treasury Bills. The interest earned shall be added to the Subscription Proceeds and disbursed in accordance with the provisions of Paragraph paragraph 4 or 5 of this Agreement, as the case may be.

Investment of Subscription Proceeds. The Subject to Section 6, the Subscription Proceeds shall be deposited in an interest bearing account maintained by the Escrow Agent. Subscription Proceeds may be temporarily invested by the Escrow Agent only in income producing short-term, highly liquid investments secured issued or guaranteed by the United States government or any agency or instrumentality thereof where there is appropriate safety of principal, such as U.S. Treasury Bills. The interest earned shall be added to the Subscription Proceeds and disbursed in accordance with the provisions of Paragraph 4 or 5 of this Agreement, as the case may be.U.S.