Common use of Money and Other Property Deposited with the Warrant Agent Clause in Contracts

Money and Other Property Deposited with the Warrant Agent. Any money, securities and other property which at any time shall be deposited by the Company or on its behalf with the Warrant Agent pursuant to this Agreement shall be and are hereby assigned, transferred and set over to the Warrant Agent in trust for the purpose for which such moneys, securities or other property shall have been deposited, which such purpose shall be stated in writing in reasonable detail and delivered to the Warrant Agent; but such moneys, securities or other property need not be segregated from other funds, securities or other property of the Warrant Agent except to the extent required by law. The Warrant Agent shall distribute any money deposited with it for payment and distribution to any Holder by mailing by first-class mail a check in such amount as is appropriate to such Holder at the address shown on the Register, or as it may be otherwise directed in writing by such Holder, upon surrender of such Holder's Warrants. Any money or other property deposited with the Warrant Agent for payment and distribution to any Holder that remains unclaimed for two years, less one day after the date the money was deposited with the Warrant Agent, shall be paid to the Company upon its request therefor.