Common use of Funding of Indenture Funds; Investments Clause in Contracts

Funding of Indenture Funds; Investments. The Issuer shall deposit with the Trustee proceeds from the sale of the Series 2020 Bonds in the manner specified in Article III of the Indenture, and the Trustee shall deposit such proceeds in the manner specified in such Article. The Borrower and the Issuer agree that all moneys in any Fund established by the Indenture may, at the written direction of the Borrower, be invested in Qualified Investments. Provided, however, that if the Issuer fails to provide written direction to the Trustee, the Trustee may invest and reinvest money in the funds held by the Trustee in subsection (iv) of the definition of Qualified Investments. The Trustee is hereby authorized to trade with itself in the purchase and sale of securities for such investments, and may charge its ordinary and customary fees for such trades, including cash sweep account fees. The Trustee shall not be liable or responsible for any loss resulting from any such investment properly obtained in accordance with the Borrower’s direction. All such investments shall be held by or under the control of the Trustee and any income resulting therefrom shall be applied in the manner specified in the Indenture. Although the Issuer and the Borrower each recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Issuer and the Borrower hereby agree that confirmations of permitted investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. No statement need be rendered for any fund or account if no activity occurred in such fund or account during such month.

Funding of Indenture Funds; Investments. The Issuer shall deposit with the Trustee proceeds from the sale of the Series 2020 2013 Bonds in the manner specified in Article III 3 of the Indenture, and the Trustee shall deposit such proceeds in the manner specified in such Article. The Borrower Company and the Issuer agree that all moneys in any Fund established by the Indenture mayshall, at the written direction of the BorrowerCompany, be invested in Qualified Investments. Provided, however, that if the Issuer fails to provide written direction to the Trustee, the Trustee may invest and reinvest money in the funds held by the Trustee in subsection (iv) of the definition of Qualified Investments. The Trustee is hereby authorized to trade with itself in the purchase and sale of securities for such investments, and may charge its ordinary and customary fees for such trades, including cash sweep account fees. The Trustee shall not be liable or responsible for any loss resulting from any such investment properly obtained in accordance with the Borrower’s Company's direction. All such investments shall be held by or under the control of the Trustee and any income resulting therefrom shall be applied in the manner specified in the Indenture. Although the Issuer and the Borrower Company each recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Issuer and the Borrower Company hereby agree that confirmations of permitted investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. No statement need be rendered for any fund or account if no activity occurred in such fund or account during such month.

Funding of Indenture Funds; Investments. The Issuer shall deposit with the Trustee proceeds from the sale of the Series 2020 2019 Bonds in the manner specified in Article III of the Indenture, and the Trustee shall deposit such proceeds in the manner specified in such Article. The Borrower Company and the Issuer agree that all moneys in any Fund established by the Indenture mayshall, at the written direction of the BorrowerCompany, be invested in Qualified Investments. Provided, however, that if the Issuer fails to provide written direction to the Trustee, the Trustee may invest and reinvest money in the funds held by the Trustee in subsection (iv) of the definition of Qualified Investments. The Trustee is hereby authorized to trade with itself in the purchase and sale of securities for such investments, and may charge its ordinary and customary fees for such trades, including cash sweep account fees. The Trustee shall not be liable or responsible for any loss resulting from any such investment properly obtained in accordance with the Borrower’s Company's direction. All such investments shall be held by or under the control of the Trustee and any income resulting therefrom shall be applied in the manner specified in the Indenture. Ratings of permitted investments shall be determined at the time of purchase of such permitted investments and without regard to ratings subcategories. In the absence of investment instructions from the Company, the Trustee shall not be responsible or liable for keeping the moneys held by it hereunder fully invested in permitted investments. The Trustee may conclusively rely upon the Company’s written instructions as to both the suitability and legality of the directed investments. Although the Issuer and the Borrower Company each recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Issuer and the Borrower Company hereby agree that confirmations of permitted investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. No statement need be rendered for any fund or account if no activity occurred in such fund or account during such month.

Funding of Indenture Funds; Investments. The Issuer City shall deposit with the Trustee proceeds from the sale of the Series 2020 20 B Bonds in the manner specified in Article III of the Indenture, and the Trustee shall deposit such proceeds in the manner specified in such Article. The Borrower and the Issuer City agree that all moneys in any Fund established by the Indenture may, at the written direction of the Borrower, be invested in Qualified Investments. Provided, however, that if the Issuer City fails to provide written direction to the Trustee, the Trustee may invest and reinvest money in the funds held by the Trustee in subsection (iv) of the definition of Qualified Investments. The Trustee is hereby authorized to trade with itself in the purchase and sale of securities for such investments, investments and may charge its ordinary and customary fees for such trades, including cash sweep account fees. The Trustee shall not be liable or responsible for any loss resulting from any such investment properly obtained in accordance with the Borrower’s direction. All such investments shall be held by or under the control of the Trustee and any income resulting therefrom shall be applied in the manner specified in the Indenture. Although the Issuer City and the Borrower each recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Issuer City and the Borrower hereby agree that confirmations of permitted investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. No statement need be rendered for any fund or account if no activity occurred in such fund or account during such month.