Investment of the Deposit. Escrow Agent shall invest and reinvest the Deposit in the United States Treasury Bills with a maturity of thirty days or less unless otherwise instructed in writing by Party B. Such written instructions, if any, referred to in the foregoing sentence shall specify the type and identity of the investments to be purchased and/or sold and shall also include the name of the broker-dealer, if any, which Party B directs the Escrow Agent to use in respect of such investment, any particular settlement procedures required, if any (which settlement procedures shall be consistent with industry standards and practices), and such other information as Escrow Agent may require. Escrow Agent shall not be liable for failure to invest or reinvest funds absent sufficient written direction. Unless Escrow Agent is otherwise directed in such written instructions, Escrow Agent may use a broker-dealer of its own selection, including a broker-dealer owned by or affiliated with Escrow Agent or any of its affiliates. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder. It is expressly agreed and understood by the parties hereto that Escrow Agent shall not in any way whatsoever be liable for losses on any investments, including, but not limited to, losses from market risks due to premature liquidation or resulting from other actions taken pursuant to this Escrow Agreement.
Investment of the Deposit. Bedford may instruct the Escrow Holder to invest the Deposit in short-term, high-grade securities, interest bearing bank accounts, bank certificates of deposit, or bank repurchase agreements. All interest or other income thereon shall belong to Bedford and shall be remitted to Bedford as and when received by Escrow Holder, irrespective of the disposition of the Deposit itself.
Investment of the Deposit. The parties hereby authorise the Vendor’s Solicitors to:
(a) invest the Deposit with Vendor’s Solicitors’ bank, in an interest bearing account at call in trust for the Vendor and the Purchaser;
(b) withdraw the Deposit and interest earned on Completion, rescission or termination of this agreement (whichever occurs);
(c) pay the Deposit as required by clause 5.5; and
(d) pay the interest earned on the Deposit as required by clause 5.7.
Investment of the Deposit. Assets maintained in the Escrow Account and investments and reinvestments thereof shall consist only of NAIC 1 or 2 rated securities, provided that such investments are issued by an institution that is not the parent, subsidiary or affiliate of either Seller or Buyer (“Authorized Investments”). If the rating on any securities so invested is downgraded below NAIC 2, then such securities shall be promptly replaced with other NAIC 1 or 2 rated securities having the same face amount as the securities so replaced. The responsibility for directing the Escrow Agent to invest and reinvest the assets in the Escrow Account shall be that of Seller or its affiliates, and the Escrow Agent shall invest and reinvest the assets in the Escrow Account, or any part thereof, in such Authorized Investments as Seller or its affiliates shall direct in writing. Any investment direction by Seller or its affiliates shall constitute certification by Seller to the Escrow Agent that the assets so deposited or to be purchased pursuant to such investment direction or so substituted are Authorized Investments. The Escrow Agent shall not be responsible for determining whether any assets in the Escrow Account are or continue to be Authorized Investments.
Investment of the Deposit. The Escrow Agent shall invest and reinvest the Deposit pursuant to the written instructions of the Company; provided, however, such investments shall be limited to cash and Cash Equivalents (as defined in the Stage I Indenture, together with interest bearing or non-interest bearing bank deposits) (collectively, the “Permitted Escrow Investments”); provided, further, that if the Stage I Trustee or the Company notifies the Escrow Agent that an event has occurred that constitutes an Event of Default under the Stage I Indenture and said event shall be continuing, the Company’s right to instruct the Escrow Agent regarding the investment of the Deposit shall cease and the Escrow Agent shall no longer take direction from the Company, except that the last direction received from the Company prior to the Stage I Trustee’s knowledge of an Event of Default shall remain valid, and the Stage I Trustee and Escrow Agent shall be fully protected in maintaining such investment or in holding all funds uninvested. The Escrow Agent shall not be liable for failure to invest or reinvest funds absent sufficient written direction. Unless the Escrow Agent is otherwise directed in such written instructions, the Deposit shall remain uninvested. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder. It is expressly agreed and understood by the parties hereto that the Escrow Agent shall not in any way whatsoever be liable for losses on any investments, including, but not limited to, losses from market risks due to premature liquidation or resulting from other actions taken pursuant to this Escrow Agreement.
Investment of the Deposit. The Escrow Agent shall invest the Escrow Amount only in Fidelity Treasury Money Market Fund #77, unless otherwise instructed by Entity. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder. Receipt, investment and reinvestment of the Deposit shall be confirmed by Escrow Agent as soon as practical by account statement, and any discrepancies in any such account statement shall be noted by the Entity to Escrow Agent within 30 calendar days after receipt thereof. Failure to inform Escrow Agent in writing of any discrepancies in any such account statement within said 30day period shall conclusively be deemed confirmation of such account statement in its entirety. For purposes of this paragraph, (a) each account statement shall be deemed to have been received by the party to whom directed on the earlier to occur of (1) actual receipt thereof and (11) three "Business Days" (hereinafter defined) after the deposit thereof in the United States Mail, postage prepaid and (b) the term "Business Day" shall mean any day of the year, excluding Saturday, Sunday and any other day on which national banks are required or authorized to close in Houston, Texas. 6. Disbursement of the Deposit. Escrow Agent is hereby authorized to make disbursements from the Deposit as follows: A. In the event the Escrow Agent does not receive funds totaling at least the Minimum Amount in collected funds prior to the termination of the Escrow Period, the Escrow Agent shall refund to each subscriber the amount received from the subscriber, without deduction, penalty, or expense to the subscriber, together with the subscriber's pro rata share of earnings held in the Escrow Account, and the Escrow Agent shall notify the Entity of such disbursement of the funds. The pro rata share of earnings for each subscriber shall be calculated based on the amount of the subscribers collected funds (as defined below) and the actual number of days such funds are in the Escrow Account based on a 360-day year. The funds so returned to each subscriber shall be free and clear of any and all claims of the Entity or any of its creditors. Escrow Agent will not be responsible for determining the amount to be returned to each Subscriber if applicable. B. In the event (i) the Escrow Agent does receive the Minimum Amount in collected funds and (ii) the Entity confirms that all other conditions and contingencies, if any, pursuant to the Memorandum have been met p...
Investment of the Deposit. Escrow Holder shall cause the Deposit to be held, or invested and reinvested after receipt of same in short-term interest bearing investments, such as bank certificates of deposit, money market funds, overnight repurchase accounts and treasury bills. Receipt or investment of the Deposit shall be confirmed by Escrow Holder as soon as practicable by account statement unless otherwise indicated; and any discrepancies therewith shall be noted by Party A to Escrow Holder within a reasonable time prior to the next account statement. Unless otherwise directed, Escrow Holder may use a broker-dealer of its own selection, including a broker-dealer owned by or affiliated with Escrow Holder or any of its affiliates. Party A shall be liable for all brokerage costs and related expenses incurred hereunder. Escrow Holder shall not be liable for and shall be indemnified by Party A from all liability for losses on any investments, market risk due to premature liquidation, or other actions taken in compliance with this Agreement. Notwithstanding the foregoing, Escrow Holder may, in its sole and absolute discretion, accept written directions or instructions from Party A, which Escrow Holder believes to be genuine, but Escrow Holder shall not be liable for executing, failing to execute or for any mistake in the execution of such orders except in case of willful misconduct.
Investment of the Deposit. Buyer may instruct the Escrow Holder to invest the Deposit in short-term, high-grade securities, interest bearing bank account, bank certificates of deposit or bank repurchase agreements. All income thereon shall be released to the party entitled to receive the Deposit.
Investment of the Deposit. 17.1 If the Deposit is provided by cheque or in clear funds and the parties so require in writing, pending Settlement the Deposit Holder must invest the Deposit in the joint names of the parties with an ADI at 14-day call at a current rate of interest.
17.2 If the Deposit is to be invested pending Settlement, on or as soon as practicable after the Execution Date each party must provide its Australian tax file number or Australian business number to the Deposit Holder.
17.3 If a party fails to comply with clause 17.2 and the other party becomes entitled to the Deposit, the first party must compensate the other party for any tax deducted from interest earned on the Deposit.
17.4 The Deposit Holder must pay the interest accrued on the Deposit (net of any proper costs or expenses in investing the Deposit):
17.4.1 if a party terminates the Sale under clause 6 - to that party;
17.4.2 if the Deposit is repaid to the Purchaser - to the Purchaser; or
Investment of the Deposit. The Escrow Agent shall invest and reinvest the Deposit in the JPMorgan Money Market Account, or in Permitted Investments (as defined below). The Escrow Agent may use a broker-dealer of its own selection, including a broker-dealer owned by or affiliated with the Escrow Agent or any of its affiliates. The Escrow Agent or any of its affiliates may receive compensation with respect to any investment directed hereunder (provided that such compensation shall be disclosed in writing to the Other Parties prior to such investment). The Escrow Agent shall have the right to liquidate any investment held in order to release the Deposit from time to time as provided by this Escrow Agreement. It is expressly agreed and understood by the parties hereto that the Escrow Agent shall not in any way whatsoever be liable for losses on any investments, including, but not limited to, losses from market risks due to premature liquidation or resulting from other actions taken pursuant to and consistent with this Escrow Agreement. For purposes of this Escrow Agreement, “Permitted Investments” shall mean direct obligations of the U.S. government, obligations guaranteed by the U.S. government and money market funds that invest solely in direct obligations of the U.S. government or in obligations guaranteed by the U.S. government. Unless otherwise instructed in writing by Buyer and First Reserve, the Escrow Agent will invest the Deposit in a JPMorgan Money Market Account.
