Common use of Earned Interest Clause in Contracts

Earned Interest. Depositor hereby specifically acknowledges that cash in the Depositor’s ▇▇▇▇ ▇▇▇, which the Depositor has not yet directed to be invested, will be placed temporarily in an interest-bearing account of Custodian’s choosing. Depositor further acknowledges that, until such time as Depositor provides instruction as to how funds are to be invested, Depositor funds not yet invested will earn interest at the market interest rate currently offered by the Custodian. Depositor acknowledges that such rate is not fixed and may be subject to fluctuation. Depositor’s cash account will be credited at the end of each month for interest earned during the month at the current rate in effect. Interest earned on invested cash that exceeds the rate currently offered by the Custodian will be retained by Preferred Trust Company, LLC as income. The Custodian shall be entitled to retain this income net of related service fees.

Earned Interest. Depositor hereby specifically acknowledges that cash in the Depositor’s ▇▇▇▇ ▇▇▇'s IRA, which the Depositor has not yet directed to be invested, will be placed temporarily in an interest-bearing account of Custodian’s ▇▇▇▇▇▇▇▇▇'s choosing. Depositor further acknowledges that, until such time as Depositor provides instruction as to how funds are to be invested, Depositor funds not yet invested will earn interest at the market interest rate currently offered by the Custodian. Depositor acknowledges that such rate is not fixed and may be subject to fluctuation. Depositor’s 's cash account will be credited at the end of each month for interest earned during the month at the current rate in effect. Interest earned on invested cash that exceeds the rate currently offered by the Custodian will be retained by Preferred Trust Company, LLC as income. The Custodian shall be entitled to retain this income net of related service fees.

Earned Interest. Depositor hereby specifically acknowledges that cash in the Depositordepositor’s ▇▇▇▇ ▇▇▇, which the Depositor depositor has not yet directed to be invested, will be placed temporarily in an interest-bearing account of Custodian’s choosing. Depositor further acknowledges that, until such time as Depositor depositor provides instruction as to how funds are to be invested, Depositor depositor funds not yet invested will earn interest at the market interest rate currently offered by the Custodian. Depositor acknowledges that such rate is not fixed and may be subject to fluctuation. Depositor’s cash account will be credited at the end of each month for interest earned during the month at the current rate in effect. Interest earned on invested cash that exceeds the rate currently offered by the Custodian will be retained by Preferred Trust Company, LLC as income. The Custodian shall be entitled to retain this income net of related service fees.