Nautilus 2006 Annual Report Download - page 180
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has been delivered pursuant to Section 3(a) of this Agreement at any time prior to the expiration of the Term and the Claim in respect of
such Notice is still outstanding or subject to a Counter Notice, the Escrow Agent shall continue to hold Escrow Property in accordance
with the terms hereof until final resolution of such Claim.
43
5. Investment of Funds . Except as Nautilus and the Representative may from time to time jointly otherwise instruct the Escrow Agent in
writing, funds comprising the Escrow Property deposited with the Escrow Agent shall be invested from time to time, to the extent
possible, in United States Treasury bills having a remaining maturity of ninety (90) days or less and repurchase obligations secured by
such United States Treasury bills, with any remainder being deposited and maintained in a money market deposit account with the
Escrow Agent until release by the Escrow Agent of the entire Escrow Property. The Escrow Agent is authorized to liquidate in
accordance with its customary procedures any portion of the Escrow Property consisting of investments to provide for payments required
to be made under this Agreement.
6.
Duties of the Escrow Agent.
(a) The Escrow Agent shall not be under any duty to give the Escrow Property held by it hereunder any greater degree of care than it
gives its own similar property and shall not be required to invest any funds held hereunder except as directed in this Agreement.
Uninvested funds held hereunder shall not earn or accrue interest.
(b) The Escrow Agent shall not be liable for actions or omissions hereunder, except for its own gross negligence or willful misconduct
and, except with respect to claims based upon such gross negligence or willful misconduct that are successfully asserted against the
Escrow Agent, the other parties hereto shall jointly and severally indemnify and hold harmless the Escrow Agent (and any
successor Escrow Agent) from and against any and all losses, liabilities, claims, actions, damages and expenses, including
reasonable attorneys' fees and disbursements, arising out of and in connection with this Agreement. Without limiting the foregoing,
the Escrow Agent shall in no event be liable in connection with its investment or reinvestment of any cash held by it hereunder in
good faith, in accordance with the terms hereof, including, without limitation, any liability for any delays (not resulting from its
gross negligence or willful misconduct) in the investment or reinvestment of the funds comprising part of the Escrow Property or
any loss of interest incident to any such delays.