Common use of Investor Funds in the Escrow Account Clause in Contracts

Investor Funds in the Escrow Account. Upon receipt of Investor Funds, the Escrow Agent shall hold such Investor Funds in escrow pursuant to the terms of this Agreement. All Investor Funds held in the Escrow Account shall at all times be placed in an interest-bearing account or as may otherwise be instructed by the Company and in accordance with applicable rules and regulations (except for the funds from Pennsylvania Subscribers in the Escrow Account which must be maintained in an interest-bearing account following the Initial Escrow Period). Interest and any other income resulting from the investment of the funds in the Escrow Account shall be retained by the Escrow Agent and distributed according to this Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company which includes, without limitation, if such amounts are not available to the Company at least daily via UMB’s “Web Exchange” program) on the account balance in the Escrow Account and the activity in such accounts since the last report, including without limitation as specifically relates to Pennsylvania Subscribers. The Escrow Agent will provide access to its Web Exchange program to allow the Company to view account balances for the Escrow Account at any time, including without limitation as specifically relates to Pennsylvania Subscribers.

Investor Funds in the Escrow Account. Upon receipt of Investor Funds, the Escrow Agent shall hold such Investor Funds in escrow pursuant to the terms of this Agreement. All Investor Funds held in the Escrow Account shall at all times be placed invested in UMB Money Market Special, an interest-bearing account or as may otherwise be instructed by the Company account, and in accordance with applicable rules and regulations (except for the funds from Pennsylvania Subscribers and Washington Subscribers in the Escrow Account which must be maintained in an interest-bearing account following the Initial Escrow Period). Interest and any other income resulting from the investment of the funds in the Escrow Account shall be retained by the Escrow Agent and distributed according to this Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company which includes, without limitation, if such amounts are not available to the Company at least daily via UMB’s “Web Exchange” program) on the account balance in the Escrow Account and the activity in such accounts since the last report, including without limitation as specifically relates to Pennsylvania Subscribers and Washington Subscribers (and any Other Subscribers). The Escrow Agent will provide access to its Web Exchange program to allow the Company to view account balances for the Escrow Account at any time, including without limitation as specifically relates to Pennsylvania Subscribers and Washington Subscribers (and any Other Subscribers).