Limitation on Escrow Agent's Responsibilities. The Escrow Agent's sole responsibilities under this Section 2 shall be (A) to retain, or cause its agent in the State of New York to retain, possession of certificated Eligible Cash Equivalents (except, however, that the Escrow Agent may surrender possession to the issuer of any such Eligible Cash Equivalent for the purpose of effecting assignment, crediting interest, or reinvesting such security or reducing such security to cash) and to be the registered or designated owner of Eligible Cash Equivalents which are not certificated, (B) to follow the Leasing Company's or the applicable Trustee's written instructions, as applicable, given in accordance with Section 2(e)(i), (C) to invest and reinvest funds pursuant to this Section 2(e) and (D) to use reasonable efforts to reduce to cash such Eligible Cash Equivalents as may be required to fund any disbursement or payment in accordance with Section 3. In connection with clause (i) above, the Escrow Agent will maintain, or cause its agent in the State of New York to maintain, continuous possession in the State of New York of certificated Eligible Cash Equivalents and cash included in the Collateral and will cause uncertificated Eligible Cash Equivalents to be registered in the book-entry system of, and transferred to an account of the Escrow Agent or a sub-agent of the Escrow Agent at, the Federal Reserve Bank of New York. Except as provided in Section 6, the Escrow Agent shall have no other responsibilities with respect to perfecting or maintaining the perfection of both Trustees' Liens and security interest in the Collateral and shall not be required to file any instrument, document or notice in any public office at any time or times. In connection with clause (D) above, the Escrow Agent shall not be required to reduce to cash any Eligible Cash Equivalents to fund any disbursement or payment in accordance with Section 3 in the absence of written instructions signed by an officer of the Leasing Company specifying the particular investment to liquidate unless a Default or Event of Default has occurred and is continuing, in which case such written instructions shall be signed by a Trust Officer of the Senior Note Trustee or, after the Senior Note Discharge Date, of the Convertible Note Trustee. If no such written instructions are received, the Escrow Agent shall liquidate those Eligible Cash Equivalents having the lowest interest rate per annum, regardless of maturity, or if none such exist, those having the nea...
Limitation on Escrow Agent's Responsibilities. 1. Escrow Agent's duties and responsibilities shall be limited to those expressly set forth in this Agreement and are purely ministerial in nature. Escrow Agent shall not be subject to, or obligated to recognize, any other agreement to which the Company, the Trustee, or either of them may be a party. References in this Agreement to any such agreement are for identification and definitional purposes only.
Limitation on Escrow Agent's Responsibilities. The Escrow --------------------------------------------- Agent's sole responsibilities under this Section 2 shall be (A) to retain possession of certificated Marketable Securities (except, however, that the Escrow Agent may surrender possession to the issuer of any such Marketable Security for the purposes of affecting assignment, crediting interest, or reinvesting such security or reducing such security to cash) and to be the registered or designated owner of Marketable Securities which are not cer tificated, (B) to follow the Company's written instructions given in accordance with Section 2(d)(i) hereof, (C) to invest and reinvest funds pursuant to and in accordance with this Section 2(d) and (D) to use reasonable efforts to reduce to cash such Marketable Securities as may be required to fund any disbursement in accordance with Section 3 hereof. In connection with clause (A) above, the Escrow Agent will maintain continuous possession in the State of New York of certificated Marketable Securities and cash included in the Collateral and will cause uncertificated Marketable Securities to be registered in the book-entry system of, and transferred to an account in the name of The Bank of New York for the benefit of the Escrow Agent, to be held by the Escrow Agent for the exclusive benefit of the Indenture Trustee, at the Federal Reserve Bank.
Limitation on Escrow Agent's Responsibilities. The Escrow Agent's sole responsibilities under this Section 2 shall be (A) to retain, or cause its agent in the State of New York to retain, possession of certificated Eligible Cash Equivalents (except, however, that the Escrow Agent may surrender possession to the issuer of any such Eligible Cash Equivalent for the purpose of effecting assignment, crediting
Limitation on Escrow Agent's Responsibilities. The Escrow Agent's sole responsibilities under this Section 2 shall be (A) to retain, or cause its agent in the State of New York to retain, possession of certificated Eligible Cash Equivalents (except, however, that the Escrow Agent may surrender possession to the issuer of any such Eligible Cash Equivalent for the purpose of effecting assignment, crediting interest, or reinvesting such security or reducing such security to cash) and to be the registered or designated owner of Eligible Cash Equivalents which are not certificated, (B) to follow the Company's or the applicable Trustee's written instructions, as applicable, given in accordance with Section 2(e)(i), (C) to invest and reinvest funds pursuant to this Section 2(e) and (D) to use reasonable efforts to reduce to cash such Eligible Cash Equivalents as may be required to fund any disbursement or payment in accordance with Section 3. In connection with clause (i) above, the Escrow Agent will maintain, or cause its agent in the State of New York to maintain, continuous possession in the State of New York of certificated Eligible Cash Equivalents and cash included in the Collateral and will cause uncertificated Eligible Cash Equivalents to be registered in the book-entry system of, and transferred to an account of the Escrow Agent or a sub-agent of the Escrow Agent at, the Federal Reserve Bank of New York. Except as provided in Section 6, the Escrow Agent shall have no other responsibilities with respect to perfecting or maintaining the perfection of the both Trustees' Liens and security interest in the Collateral and shall not be required
Limitation on Escrow Agent's Responsibilities. The Escrow --------------------------------------------- Agent's sole responsibilities under this Agreement shall be (1) to retain possession of any funds in the Escrow Account, (2) to retain possession of the Releases, and (3) to disburse such funds and release the Releases in accordance with the provisions of this Agreement.
Limitation on Escrow Agent's Responsibilities. The Escrow Agent's sole responsibilities under this Section 2 shall be (a) to follow the Note Issuers' written instructions given in accordance with Section 2(d)(i) hereof, (B) to invest and reinvest funds pursuant to this Section 2(d) and (C) to use reasonable efforts to reduce to cash such Cash Equivalents as may be required to fund any disbursement in accordance with Section 3 hereof. Except as provided in Section 6, the Escrow Agent shall have no other responsibilities with respect to performing or maintaining the perfection of the Trustee's security interest in the Collateral and shall not be required to file any instrument, document or notice in any public office at any time or times. In connection with clause (C) above and subject to the following sentence, the Escrow Agent shall not be required to reduce to cash any Cash Equivalents to fund any disbursement or payment in accordance with Section 3 in the absence of written instructions signed by an Officer of each Note Issuer specifying the particular investment to liquidate. If no such written instructions are received, the Escrow Agent may liquidate those Cash Equivalents having the lowest interest rate per annum or if none such exist, those having the nearest maturity.
Limitation on Escrow Agent's Responsibilities. The Escrow Agent's sole responsibilities under this Section 2 shall be (A) to retain, or cause its agent in the State of New York to retain, possession of certificated Eligible Cash Equivalents (except, however, that the Escrow Agent may surrender possession of any such Eligible Cash Equivalent to the issuer thereof for the purpose of effecting assignment, crediting interest, or reinvesting such security or reducing such security to cash) and to be the registered or designated owner of Eligible Cash Equivalents which are not certificated, (B) to follow the Issuer's or
Limitation on Escrow Agent's Responsibilities. The Escrow --------------------------------------------- Agent's sole responsibilities under this Section 2 shall be (A) to retain possession of certificated U.S. Government Securities and to be the registered or designated owner of U.S. Government Securities which are not certificated, if any, (B) to follow the Company's written instructions given in accordance with Section 2(d)(i), (C) to invest and reinvest funds pursuant to this Section 2(d), (D) to maintain possession of, and dominion and control over, the Escrow Account and the funds and U.S. Government Securities therein, unless and until such funds are permitted to be released or disbursed in accordance with the terms of this Agreement and (E) to use reasonable efforts to reduce to cash such U.S. Government Securities as may be required to fund any disbursement or payment in
Limitation on Escrow Agent's Responsibilities. Escrow --------------------------------------------- Agent's sole responsibilities under this Section 2 shall be (A) to retain possession of funds and to be the registered or designated owner of the Pledged Securities, (B) to follow the Company's written instructions given in accordance with Section 2(d)(i), and (C) to invest and reinvest funds pursuant to this Section 2(d). In connection with clause (A) above, Escrow Agent will maintain continuous possession in the jurisdiction of its principal place of business of funds included in the Escrow Collateral and will cause the Pledged Securities to be registered in the book-entry system of, and transferred to an account of Escrow Agent or a sub-agent of Escrow Agent at, any Federal Reserve Bank. Except as provided in Section 6, Escrow Agent shall have no other responsibilities with respect to perfecting or maintaining the perfection of the security interest in the Escrow Collateral and shall not be required to file any instrument, document or notice in any public office at any time or times. The provisions of this Section 2(d)(iv) shall be without prejudice to the Escrow Agent's obligations as Securities Intermediary under this Agreement.
