Common use of Administration of the Class B Reserve Account Clause in Contracts

Administration of the Class B Reserve Account. HVF may instruct (by standing instructions or otherwise) the institution maintaining the Class B Reserve Account to invest funds on deposit in the Class B Reserve Account from time to time in Permitted Investments; provided, however, that any such investment shall mature not later than the Business Day prior to the first Payment Date following the date on which such funds were received (including funds received upon a payment in respect of a Permitted Investment made with funds on deposit in the Class B Reserve Account), unless any Permitted Investment held in the Class B Reserve Account is held with the Trustee, then such investment may mature on such Payment Date so long as such funds shall be available for withdrawal on or prior to such Payment Date. HVF shall not direct the Trustee to dispose of (or permit the disposal of) any Permitted Investments prior to the maturity thereof to the extent such disposal would result in a loss of the initial purchase price of such Permitted Investment. In the absence of written investment instructions hereunder, funds on deposit in the Class B Reserve Account shall remain uninvested.