Common use of Security for Cash Balances Clause in Contracts

Security for Cash Balances. Cash balances from time to time on deposit in the Escrow Fund shall, to the extent not insured by the Federal Deposit Insurance Corporation or its successor, be continuously secured by a pledge of direct obligations of, or obligations unconditionally guaranteed by, the United States of America, having a market value at least equal to such cash balances.

Security for Cash Balances. Cash balances from time to time on deposit in the Escrow Fund shallFund, to the extent not insured by the Federal Deposit Insurance Corporation or its successor, shall be continuously secured by a pledge of direct obligations obligation of, or obligations unconditionally guaranteed by, the United States of America, having a market value at least equal to such cash balances.

Security for Cash Balances. Cash balances from time to time on deposit in the Escrow Fund shall, to the extent not insured by the Federal Deposit Insurance Corporation or its successor, be continuously secured by a pledge of direct noncallable obligations of, or noncallable obligations unconditionally guaranteed by, the United States of America, having a market value at least equal to such cash balances.

Security for Cash Balances. Cash balances from time to time on deposit in the Escrow Fund shallFund, to the extent not insured by the Bank Insurance Fund, maintained and administered by the Federal Deposit Insurance Corporation Corporation, or its successorany successor insurance fund, shall be continuously secured by a pledge of direct obligations of, or obligations unconditionally guaranteed by, the United States of America, having a market value at least equal to such cash balances, or such higher amount as may be required by the District's policies governing investment of funds.