Common use of Eligible Investments Clause in Contracts

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (h) Investments in money market or common trust funds rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteedStates, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (dc) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (ed) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bankbank (which may include the Trustee or its affiliate), the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (fe) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (gf) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (hg) Investments in money market funds (including those of the Trustee or common trust funds its affiliates (for which separate compensation may be received)) rated at least AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (ih) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided provide a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturitypar. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates. The Trustee or its affiliates may act as sponsor, manager, depository or advisor with regard to any Eligible Investment.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which that has combined capital, surplus and undivided profits of at least $50,000,000 50,000,000, which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (h) Investments in money market or common trust funds (including money market funds advised by the Trustee or any of its affiliates) rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct direct general obligations of, or obligations fully and unconditionally guaranteed as to the timely payment of principal and interest by, the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteedthereof, provided the timely payment or of such obligations are backed by the guarantee of which constitutes a full faith and credit obligation of the United States.; (b) Federal Housing Administration debentures; FHLMC senior debt obligations, and FNMA senior debt obligations, but excluding any of such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; and consolidated senior debt obligations of any Federal Home Loan Banks; provided, that any such investment shall be rated in one of the two highest ratings categories by Moody's, S&P and Fitch; (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of depositdxxxxxx, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 F-1+ or better by Fitch, A-1+ or better by S&P and P-1 by Xxxxx'x.Moody's; (fd) Deposits of any bank or savings and loan association associxxxxx (the long-term deposit rating of which is Baa3 or better by Moody's, BBB or better by S&P and BBB by Fitch) which has combined capitalxxxxxxl, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of insured by the applicable FDIC and held up to the limits insured by the Bank Insurance Fund FDIC; (e) Investment agreements provided: 1. The agreement is with a bank or insurance company which has unsecured, uninsured and unguaranteed senior debt obligations rated Aa2 or better by Moody's, AA or better by S&P and AA or better by Fitch, and 0. Xxxeys invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at any time prior to the Savings Association Insurance Fund withdrawal date), and 3. The agreement is not subordinated to any other obligations of such insurance company or bank, and 4. The same guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Trustee receives an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank; (f) Repurchase agreements collateralized by securities described in (a) above with any registered broker/dealer subject to the FDICSecurities Investors Protection Corporation's jurisdiction and subject to applicable limits therein promulgated by Securities Investors Protection Corporation or any commercial bank, provided that the if such broker/dealer or bank has an uninsured, unsecured and unguaranteed short-term or long-term deposits of such bank obligation rated P-1 or savings and loan association are rated at least "BBB" Aa2, respectively, or better by Moody's, A-1+ or AA, respectively, or better by S&P and "Baa3" F-1+ or AA, xxxxxctively, or better by Xxxxx'xFitch, provided: 1. A master repurchase agreement or specific written repurchase agreement governs the transaction, and 2. The securities are held free and clear of any lien by the Trustee or an independent third party acting solely as agent for the Trustee, and such third party is (i) a Federal Reserve Bank or (ii) a bank which is a member of the FDIC and which has combined capital, surplus and undivided profits of not less than $125 million and the Trustee shall have received written confirmation from such third party that it holds such securities, free and clear of any lien, as agent for the Trustee, and 3. A perfected first security interest under the Uniform Commercial Code, or book entry procedures prescribed at 31 C.F.R. 306.1 et seq. or 31 C.F.R. 350.0 et seq., in such securities is created for the benefit of the Trustee, and 4. The repurchase agreement has a term of thirty days or less and the Trustee will value the collateral securities no less frequently than weekly and will liquidate the collateral securities if any deficiency in the required collateral percentage is not restored within two business days of such valuation, and 5. The fair market value of the collateral securities in relation to the amount of the repurchase obligation, including principal and interest, is equal to at least 106% and such collateral securities must be valued weekly and marked-to-market at current market price plus accrued interest (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by in the highest short-term rating categories of Fitch, S&P and P-1 or better by Xxxxx'x.Moody's; (h) Investments in no load money market funds regisxxxxx xnder the Investment Company Act of 1940 whose shares are registered under the Securities Act or common trust funds in each case rated AAAm or AAAm-G Aaa by Moody's, AAA by S&P and Aaa AAA by Xxxxx'x.Fitch if rated by Fitch; and (ix) Such xxx other investments as have been investment approved in writing by S&P, Xxxxx'x and the Certificate Insurereach Rating Agency; provided that no instrument described above is permitted to shall evidence either the right to receive (ai) only interest with respect to the obligations underlying such instrument or (bii) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that all instruments described hereunder shall mature at par on or prior to the next succeeding Distribution Date unless otherwise provided in this Agreement and that no instrument described above hereunder may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct direct general obligations of, or obligations fully and unconditionally guaranteed as to the timely payment of principal and interest by, the United States or the obligations of any agency or instrumentality of thereof, provided such obligations are backed by the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States.; (b) Federal Housing Administration debentures; FHLMC senior debt obligations, and FNMA senior debt obligations, but excluding any of such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; and consolidated senior debt obligations of any Federal Home Loan Banks; provided, that any such investment shall be rated in one of the two highest ratings categories by Xxxxx'x and Fitch; (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 F-1+ or better by S&P Fitch and P-1 by Xxxxx'x.; (fd) Deposits of any bank or savings and loan association (the long-term deposit rating of which is Baa3 or better by Xxxxx'x and BBB by Fitch) which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of insured by the applicable FDIC and held up to the limits insured by the Bank Insurance Fund FDIC; (e) Investment agreements provided: 1. The agreement is with a bank or insurance company which has unsecured, uninsured and unguaranteed senior debt obligations rated Aa2 or better by Xxxxx'x and AA or better by Fitch, and 2. Moneys invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at any time prior to the Savings Association Insurance Fund withdrawal date), and 3. The agreement is not subordinated to any other obligations of such insurance company or bank, and 4. The sa me guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Trustee receives an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank; (f) Repurchase agreements collateralized by securities described in (a) above with any registered broker/dealer subject to the FDICSecurities Investors Protection Corporation's jurisdiction and subject to applicable limits therein promulgated by Securities Investors Protection Corporation or any commercial bank, provided that the if such broker/dealer or bank has an uninsured, unsecured and unguaranteed short-term or long-term deposits obligation rated P-1 or Aa2, respectively, or better by Xxxxx'x and F-1+ or AA, respectively, or better by Fitch, provided: a. A master repurchase agreement or specific written repurchase agreement governs the transaction, and b. The securities are held free and clear of any lien by the Trustee or an independent third party acting solely as agent for the Trustee, and such third party is (a) a Federal Reserve Bank or (b) a bank which is a member of the FDIC and which has combined capital, surplus and undivided profits of not less than $125 million and the Trustee shall have received written confirmation from such third party that it holds such securities, free and clear of any lien, as agent for the Trustee, and c. A perfected first security interest under the Uniform Commercial Code, or book entry procedures prescribed at 31 CFR 306.1 et seq. or 31 CFR 350.0 et seq., in such securities is created for the benefit of the Trustee, and d. The repurchase agreement has a term of thirty days or less and the Trustee will value the collateral securities no less frequently than weekly and will liquidate the collateral securities if any deficiency in the required collateral percentage is not restored within two business days of such bank or savings valuation, and e. The fair market value of the collateral securities in relation to the amount of the repurchase obligation, including principal and loan association are rated interest, is equal to at least "BBB" by S&P 106% and "Baa3" by Xxxxx'xsuch collateral securities must be valued weekly and market-to-market at current market price plus accrued interest. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P in the highest short-term rating categories of Fitch and P-1 or better by Xxxxx'x.; and (h) Investments in no load money market or common trust funds registered under the Investment Company Act of 1940 whose shares are registered under the Securities Act and rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing , and AAA, if rated by S&P, Xxxxx'x and the Certificate InsurerFitch; provided that no instrument described above is permitted to shall evidence either the right to receive (a) only interest with respect to the obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that all instruments described hereunder shall mature at par on or prior to the next succeeding Payment Date unless otherwise provided in this Agreement and that no instrument described above hereunder may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteedStates, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (dc) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (ed) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bankbank (which may include the Trustee or its affiliate), the short-term debt obligations of which have been rated A-1 or better by S&P ____ and P-1 by Xxxxx'x____. (fe) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P ____ and "Baa3" by Xxxxx'x____. (gf) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P ____ and P-1 or better by Xxxxx'x____. (hg) Investments in money market funds (including those of the Trustee or common trust funds its affiliates (for which separate compensation may be received)) rated at least AAAm or AAAm-G by S&P ____ and Aaa by Xxxxx'x____. (ih) Such other investments as have been approved in writing by S&P____, Xxxxx'x ____ and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided provide a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturitypar. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates. The Trustee or its affiliates may act as sponsor, manager, depository or advisor with regard to any Eligible Investment.

Eligible Investments. The following are Eligible Investments: (a) Direct direct general obligations of, or obligations fully and unconditionally guaranteed as to the timely payment of principal and interest by, the United States or the obligations of any agency or instrumentality of thereof, provided that such obligations are backed by the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States.; (b) Federal Housing Administration debentures; FHLMC senior debt obligations, and FNMA senior debt obligations, but excluding any of such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; and consolidated senior debt obligations of any Federal Home Loan Banks; provided, that any such investment shall be rated in one of the two highest ratings categories by Xxxxx'x, S&P and Fitch; (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 F-1+ or better by Fitch, A-1+ or better by S&P and P-1 by Xxxxx'x.; (fd) Deposits of any bank or savings and loan association (the long-term deposit rating of which is Baa3 or better by Xxxxx'x, BBB or better by S&P and BBB by Fitch) which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of insured by the applicable FDIC and held up to the limits insured by the Bank Insurance Fund FDIC; (e) Investment agreements provided: 1. The agreement is with a bank or insurance company which has unsecured, uninsured and unguaranteed senior debt obligations rated Aa2 or better by Xxxxx'x, XX or better by S&P and AA or better by Fitch, and 2. Moneys invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at any time prior to the Savings Association Insurance Fund withdrawal date), and 3. The agreement is not subordinated to any other obligations of such insurance company or bank, and 4. The same guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Trustee receives an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank; (f) Repurchase agreements collateralized by securities described in (a) above with any registered broker/dealer subject to the FDICSecurities Investors Protection Corporation's jurisdiction and subject to applicable limits therein promulgated by Securities Investors Protection Corporation or any commercial bank, provided that the if such broker/dealer or bank has an uninsured, unsecured and unguaranteed short-term or long-term deposits of such bank obligation rated P-1 or savings and loan association are rated at least "BBB" Aa2, respectively, or better by Xxxxx'x, A-1+ or AA, respectively, or better by S&P and "Baa3" F-1+ or AA, respectively, or better by Xxxxx'xFitch, provided: 1. A master repurchase agreement or specific written repurchase agreement governs the transaction, and 2. The securities are held free and clear of any lien by the Trustee or an independent third party acting solely as agent for the Trustee, and such third party is (i) a Federal Reserve Bank or (ii) a bank which is a member of the FDIC and which has combined capital, surplus and undivided profits of not less than $125 million and the Trustee shall have received written confirmation from such third party that it holds such securities, free and clear of any lien, as agent for the Trustee, and 3. A perfected first security interest under the Uniform Commercial Code, or book entry procedures prescribed at 31 C.F.R. 306.1 et seq. or 31 C.F.R. 350.0 et seq., in such securities is created for the benefit of the Trustee, and 4. The repurchase agreement has a term of thirty days or less and the Trustee will value the collateral securities no less frequently than weekly and will liquidate the collateral securities if any deficiency in the required collateral percentage is not restored within two business days of such valuation, and 5. The fair market value of the collateral securities in relation to the amount of the repurchase obligation, including principal and interest, is equal to at least 106% and such collateral securities must be valued weekly and marked-to- market at current market price plus accrued interest (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by in the highest short-term rating categories of Fitch, S&P and P-1 or better by Xxxxx'x.; (h) Investments in no load money market funds registered under the Investment Company Act of 1940 whose shares are registered under the Securities Act or common trust funds in each case rated AAAm or AAAm-G Aaa by Xxxxx'x, AAA by S&P and Aaa AAA by Xxxxx'x.Fitch if rated by Fitch; and (i) Such any other investments as have been investment approved in writing by S&P, Xxxxx'x and the Certificate Insurereach Rating Agency; provided that no instrument described above is permitted to shall evidence either the right to receive (ai) only interest with respect to the obligations underlying such instrument or (bii) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and providedPROVIDED, furtherFURTHER, that all instruments described hereunder shall mature at par on or prior to the next succeeding Distribution Date unless otherwise provided in this Agreement and that no instrument described above hereunder may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States.; (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 F-1 or better by S&P Fitch and P-1 or better by Xxxxx'x.; (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBBBBB-" by S&P Fitch and "Baa3" by Xxxxx'x.; (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 F-1 or better by S&P Fitch and P-1 or better by Xxxxx'x.; (h) Investments in money market or common trust funds rated AAAm or AAAm-G in the highest rating category by S&P and Aaa Xxxxx'x and, if rated, by Xxxxx'x.Fitch; (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate InsurerRating Agencies; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates on the same terms applicable to commercial clients of the Trustee or its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which that has combined capital, surplus and undivided profits of at least $50,000,000 50,000,000, which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term -------- deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (h) Investments in money market or common trust funds (including money market funds advised by the Trustee or any of its affiliates) rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the -------- right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, ----------------- that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity debentures and rated Aa2 or call for redemptionhigher by Xxxxx'x. (c) FHLMC Xxxxxxx Mac senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity obligations and rated Aa2 or call for redemptionhigher by Xxxxx'x. (d) FNMA Federal Home Loan Banks' consolidated senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity obligations and rated Aa2 or call for redemptionhigher by Xxxxx'x. (e) FNMA senior debt obligations and rated Aa2 or higher by Xxxxx'x. (f) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P Standard & Poor's and P-1 by Xxxxx'x. (fg) Deposits of any Investment agreements approved by the Certificate Insurer provided: 1. The agreement is with a bank or savings and loan association insurance company which has combined capitalan unsecured, surplus uninsured and undivided profits of unguaranteed obligation (or claims-paying ability) rated Aa2 or better by Xxxxx'x and AA or better by Standard & Poor's and 2. Monies invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at least $50,000,000 which deposits are any time prior to the withdrawal date), and 3. The agreement is not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits subordinated to any other obligations of such bank insurance company or savings bank, and 4. The same guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Trustee and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'xthe Certificate Insurer receive an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank. (gh) Commercial paper (having original maturities of not more than 270 365 days) rated A-1 or better by S&P Standard & Poor's and P-1 or better by Xxxxx'x. (hi) Investments in money market or common trust funds rated AAAm or AAAm-G by S&P Standard & Poor's and Aaa or P-1 by Xxxxx'x. (ij) Such other investments as have been Investments approved in writing by S&P, the Certificate Insurer and acceptable to Xxxxx'x and the Certificate InsurerStandard & Poor's; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteedStates, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) Federal Home Loan Banks' consolidated senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (ef) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (fg) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 3,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (gh) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (hi) Investments in money market or common trust funds rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; . provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct direct general obligations of, or obligations fully and unconditionally guaranteed as to the timely payment of principal and interest by, the United States or the obligations of any agency or instrumentality of thereof, provided such obligations are backed by the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States.; (b) Federal Housing Administration debentures; FHLMC senior debt obligations, and FNMA senior debt obligations, but excluding any of such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption.; and consolidated senior debt obligations of any Federal Home Loan Banks; provided, that any such investment shall be rated in one of the two highest ratings categories by Xxxxx'x and Fitch; (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 F-1+ or better by S&P Fitch and P-1 by Xxxxx'x.; (fd) Deposits of any bank or savings and loan association (the long-term deposit rating of which is Baa3 or better by Xxxxx'x and BBB by Fitch) which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of insured by the applicable FDIC and held up to the limits insured by the Bank Insurance Fund FDIC; (e) Investment agreements provided: 1. The agreement is with a bank or insurance company which has unsecured, uninsured and unguaranteed senior debt obligations rated Aa2 or better by Xxxxx'x and AA or better by Fitch, and 2. Moneys invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at any time prior to the Savings Association Insurance Fund withdrawal date), and 3. The agreement is not subordinated to any other obligations of such insurance company or bank, and 4. The same guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Trustee receives an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank; (f) Repurchase agreements collateralized by securities described in (a) above with any registered broker/dealer subject to the FDICSecurities Investors Protection Corporation's jurisdiction and subject to applicable limits therein promulgated by Securities Investors Protection Corporation or any commercial bank, provided that the if such broker/dealer or bank has an uninsured, unsecured and unguaranteed short-term or long-term deposits obligation rated P-1 or Aa2, respectively, or better by Xxxxx'x and F-1+ or AA, respectively, or better by Fitch, provided: a. A master repurchase agreement or specific written repurchase agreement governs the transaction, and b. The securities are held free and clear of any lien by the Trustee or an independent third party acting solely as agent for the Trustee, and such third party is (a) a Federal Reserve Bank or (b) a bank which is a member of the FDIC and which has combined capital, surplus and undivided profits of not less than $125 million and the Trustee shall have received written confirmation from such third party that it holds such securities, free and clear of any lien, as agent for the Trustee, and c. A perfected first security interest under the Uniform Commercial Code, or book entry procedures prescribed at 31 CFR 306.1 et seq. or 31 CFR 350.0 et seq., in such securities is created for the benefit of the Trustee, and d. The repurchase agreement has a term of thirty days or less and the Trustee will value the collateral securities no less frequently than weekly and will liquidate the collateral securities if any deficiency in the required collateral percentage is not restored within two business days of such bank or savings valuation, and e. The fair market value of the collateral securities in relation to the amount of the repurchase obligation, including principal and loan association are rated interest, is equal to at least "BBB" by S&P 106% and "Baa3" by Xxxxx'xsuch collateral securities must be valued weekly and market-to-market at current market price plus accrued interest. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P in the highest short-term rating categories of Fitch and P-1 or better by Xxxxx'x.; and (h) Investments in no load money market or common trust funds registered under the Investment Company Act of 1940 whose shares are registered under the Securities Act and rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing , and AAA, if rated by S&P, Xxxxx'x and the Certificate InsurerFitch; provided that no instrument described above is permitted to shall evidence either the right to receive (a) only interest with respect to the obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that all instruments described hereunder shall mature at par on or prior to the next succeeding Payment Date unless otherwise provided in this Agreement and that no instrument described above hereunder may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteedStates, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bankbank (which may include the Trustee or its affiliate), the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (h) Investments in money market funds (including those of the Trustee or common trust funds its affiliate) rated at least AAAm or AAAm-G by S&P and Aaa or P-1 by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided provide a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates. The Trustee or its affiliates may act as sponsor, manager, depository or advisor with regard to any Eligible Investment.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (h) Investments in money market or common trust funds rated AAAm or AAAm-G by S&P and Aaa by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; . provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are "Eligible Investments:": -------------------- -------------------- (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC participation certificates and senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA Federal Home Loan Banks' consolidated senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) FNMA mortgage-backed securities (other than stripped mortgage securities which are valued greater than par on the portion of unpaid principal) and senior debt obligations. (f) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'xMoody's. (g) Investment agreements approved by the Insurer pxxxxxxx: 1. The agreement is with a bank or insurance company which has an unsecured, uninsured and unguaranteed obligation (or claims-paying ability) rated Aa2 or better by Moody's and AA or better by S&P, or is the lead bank of a parxxx xxxk holding company with an uninsured, unsecured and unguaranteed obligation meeting such rating requirements, and 2. Monies invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at any time prior to the withdrawal date), and 3. The agreement is not subordinated to any other obligations of such insurance company or bank, and 4. The same guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Indenture Trustee and the Insurer receive an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank. (h) Commercial paper (having original maturities of not more than 270 365 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'xMoody's. (hi) Investments in money market or common trust funds rated AAAm or AAAmXXXx-G X by S&P and Aaa AAA or P-1 by Xxxxx'xMoody's, including those managed or advised by the Indenture Trustxx xx xts affiliates. (ij) Such other investments as have been Investments approved in writing by S&P, Xxxxx'x the Insurer and the Certificate Insurer; acceptable to Moody's and S&P. provided that no instrument described above is xxxxx xs permitted to evidence -------- either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be -------- ------- purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteedStates, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (c) FHLMC senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (d) FNMA senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity or call for redemption. (e) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bankbank (which may include the Trustee or its affiliate), the short-term debt obligations of which have been rated A-1 or better by S&P and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'x. (g) Commercial paper (having original maturities of not more than 270 days) rated A-1 or better by S&P and P-1 or better by Xxxxx'x. (h) Investments in money market funds (including those of the Trustee or common trust funds its affiliates (for which separate compensation may be received)) rated at least AAAm or AAAm-G by S&P and Aaa or P-1 by Xxxxx'x. (i) Such other investments as have been approved in writing by S&P, Xxxxx'x and the Certificate Insurer; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided provide a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates. The Trustee or its affiliates may act as sponsor, manager, depository or advisor with regard to any Eligible Investment.

Eligible Investments. The following are Eligible Investments: (a) Direct general obligations of the United States or the obligations of any agency or instrumentality of the United States fully and unconditionally guaranteed, the timely payment or the guarantee of which constitutes a full faith and credit obligation of the United States. (b) Federal Housing Administration debentures, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity debentures and rated Aa2 or call for redemptionhigher by Xxxxx'x. (c) FHLMC Xxxxxxx Mac senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity obligations and rated Aa2 or call for redemptionhigher by Moody's. (d) FNMA Federal Home Loan Banks' consolidated senior debt obligations, but excluding any such securities whose terms do not provide for payment of a fixed dollar amount upon maturity obligations and rated Aa2 or call for redemptionhigher by Moody's. (e) FNMA senior debt obligations and rated Aa2 or higher by Moody's. (f) Federal funds, certificates of deposit, time and demand deposits, and bankers' acceptances (having original maturities of not more than 365 days) of any domestic bank, the short-term debt obligations of which have been rated A-1 or better by S&P Standard & Poor's and P-1 by Xxxxx'x. (f) Deposits of any bank or savings and loan association which has combined capital, surplus and undivided profits of at least $50,000,000 which deposits are not in excess of the applicable limits insured by the Bank Insurance Fund or the Savings Association Insurance Fund of the FDIC, provided that the long-term deposits of such bank or savings and loan association are rated at least "BBB" by S&P and "Baa3" by Xxxxx'xMoody's. (g) Investment agreements approved by the Certificate Insurer provided: 1. The agreement is with a bank or insurance company which has an unsecured, uninsured and unguaranteed obligation (or claims-paying ability) rated Aa2 or better by Moody's and AA or better by Standard & Poor's and 2. Monies invested thereunder may be withdrawn without any penalty, premium or charge upon not more than one day's notice (provided such notice may be amended or canceled at any time prior to the withdrawal date), and 3. The agreement is not subordinated to any other obligations of such insurance company or bank, and 4. The same guaranteed interest rate will be paid on any future deposits made pursuant to such agreement, and 5. The Trustee and the Certificate Insurer receive an opinion of counsel that such agreement is an enforceable obligation of such insurance company or bank. (h) Commercial paper (having original maturities of not more than 270 365 days) rated A-1 or better by S&P Standard & Poor's and P-1 or better by Xxxxx'xMoody's. (hi) Investments in money market or common trust funds rated AAAm or AAAm-G by S&P Standard & Poor's and Aaa or P-1 by Xxxxx'xMoody's. (ij) Such other investments as have been Investments approved in writing by S&P, Xxxxx'x and the Certificate InsurerInsurer and acceptable to Moody's and Standard & Poor's; provided that no instrument described above is permitted to evidence either the right to receive (a) only interest with respect to obligations underlying such instrument or (b) both principal and interest payments derived from obligations underlying such instrument and the interest and principal payments with respect to such instrument provided a yield to maturity at par greater than 120% of the yield to maturity at par of the underlying obligations; and provided, further, that no instrument described above may be purchased at a price greater than par if such instrument may be prepaid or called at a price less than its purchase price prior to stated maturity. Any Eligible Investment may be purchased by or through the Trustee or any of its affiliates.