Interest on Cash on Hand Sample Clauses

Interest on Cash on Hand. Cash being held by the Trustee as a reserve for liabilities (other than cash being held for the payment of administrative costs payable pursuant to Article VII and other than cash being held for distribution at the next Distribution Date, all of which may be held in one or more non-interest bearing account(s) with the Bank or any other financial institution selected by the Trustee) shall be placed by the Trustee with one or more banks or financial institutions (which may be, or may include, any bank serving as Trustee) and invested (in the Trustee’s discretion) in: (a) a money market or similar account payable on demand without penalty; (b) obligations issued (or unconditionally guaranteed) by the United States of America or any agency or instrumentality thereof (provided such agency or instrumentality obligations are secured by the full faith and credit of the United States of America); (c) repurchase agreements secured by obligations qualifying under subparagraph (b) above; (d) certificates of deposit of any bank having capital, surplus and undivided profits in excess of $100,000,000; or (e) money market mutual funds comprised solely of securities described in clauses (b) and (c). The interest rate on reserves placed with any bank or financial institution serving as Trustee shall be the interest rate that such bank or financial institution pays in the normal course of business on amounts placed with it, taking into account the amounts involved, the period held and other factors deemed relevant by the Trustee. Any such government obligations, repurchase agreements or certificates of deposit representing funds to be distributed at the next Distribution Date must mature on or before the next succeeding Distribution Date and must be held to maturity. To the extent not prohibited by the Delaware Trust Act, any such cash may be placed with the Bank or any successor bank serving as Trustee. In lieu of exercising discretion over the selection of the investment of cash pursuant to this Section 3.4, the Trustee may request instructions from Depositor regarding the investment of any such amounts, and Depositor shall provide such instructions to the Trustee. The Trustee shall be fully protected and shall incur no liability for acting in accordance with any such instructions. Notwithstanding any other provision hereof, the Trustee shall not be liable for its selection of permitted investments or for any investment losses result from such investments. Notwithstanding ...
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Interest on Cash on Hand. Cash being held by the Trustee as a reserve for liabilities or for distribution at the next Distribution Date shall be invested (in the Trustee's discretion) in: (a) obligations issued (or unconditionally guaranteed) by the United States of America or any agency or instrumentality thereof (provided such agency or instrumentality obligations are secured by the full faith and credit of the United States of America), (b) repurchase agreements secured by obligations qualifying under subparagraph (a) above, or (c) certificates of deposit of any bank having capital, surplus and undivided profits in excess of $100,000,000; provided such repurchase agreements or certificates of deposit shall bear interest at a rate that is not less than the greater of (i) the interest rate that the Bank or its successor pays in the normal course of business on amounts placed with it, taking into account the amounts involved, the period held and other relevant factors, or (ii) the rate of interest paid on obligations qualifying under subparagraph (a) above. Any such obligations, repurchase agreements or certificates representing funds to be distributed at the next Distribution Date must mature on or before such Distribution Date and must be held to maturity. To the extent not prohibited by Section 113.057 of the Texas Trust Code, any such cash may be placed with the Bank or any successor bank serving as Trustee.
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Interest on Cash on Hand. Cash being held by the Trustee as a reserve for liabilities (other than current routine administrative costs payable pursuant to Article VII) or for distribution at the next Distribution Date shall be invested (in the Trustee's discretion) in: (a) a money market or similar account payable on demand without penalty, (b) obligations issued (or unconditionally guaranteed) by the United States of America or any agency or instrumentality thereof (provided such agency or instrumentality obligations are secured by the full faith and credit of the United States of America), (c) repurchase agreements secured by obligations qualifying under subparagraph (b) above, (d) certificates of deposit of any bank having capital, surplus and undivided profits in excess of $100,000,000, or (e) money market mutual funds comprised solely of securities described in clauses (b) and (c). The interest rate on reserves placed with any bank or financial institution serving as Trustee shall be the interest rate that such bank or financial institution pays in the normal course of business on amounts placed with it, taking into account the amounts involved, the period held and other relevant factors and (ii) the rate of interest paid on obligations qualifying under subparagraph (a) above. Any such government obligations, repurchase agreements or certificates of deposit representing funds to be distributed at the next Distribution Date must mature on or before the next succeeding Distribution Date and must be held to maturity. To the extent not prohibited by Section 113.057 of the Texas Trust Code, any such cash may be placed with the Bank or any successor bank serving as Trustee.
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Interest on Cash on Hand. Cash being held by the Trustee as a reserve for the distribution of a Quarterly Distribution Amount or for the payment of any liabilities of the Trust, other than current routine administrative costs shall be placed by the Trustee with one or more banks or financial institutions (which, to the extent to which authorized pursuant to the Business Act and other applicable law, may be or may include any bank serving as the Trustee or the Delaware Trustee) and invested in (i) obligations issued by (or unconditionally guaranteed by) the United States of America or any agency or instrumentality thereof (provided such agency or instrumentality obligations are guaranteed by the full faith and credit of the United States of America), (ii) repurchase agreements secured by obligations qualifying under (i) above, (iii) money market mutual funds (including One Group U.S. Treasury Securities Money Market Fund and other such funds of the Trustee and its affiliates) registered under the Investment Company Act of 1940, as amended, that have been rated AAAmg or AAAm by S&P and Aaa by Moodx'x; xxovided that the portfolio of such money market mutual fund is limited to obligations described in (i) above and to agreements to repurchase such obligations, or (iv) a certificate of deposit of any bank having capital, surplus and undivided profits in excess of $100,000,000 which, in the case of (ii), (iii) and (iv) above, matures prior to the date on which such Quarterly Distribution Amount is to be distributed or any such liability is to be paid. Any government obligation, repurchase agreement or certificate of deposit held by the Trustee shall be held until maturity. The interest rate on reserves placed with any bank serving as the Trustee or the Delaware Trustee shall be the interest rate that such bank pays in the normal course of business on amounts placed with it, taking into account the amount involved, the period held and other relevant factors.
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Interest on Cash on Hand. Cash being held by the Trustee as a reserve for liabilities or for distribution at the next Payment Date shall, to the extent not prohibited by law, be placed in accounts or certificates of the Trustee bank and shall bear interest at a rate which is equal to the greater of: (1) the average rate realized by the Trustee bank on master notes utilized by it during the period the cash is held by said bank, or, (2) the interest rate which the Trustee bank pays in the normal course of business on amounts placed with it, taking into account the amounts involved, the period held and other relevant factors. Any amount which may not by law be so placed shall be placed in accounts or certificates of a bank which is not an affiliate of the Trustee on terms and conditions substantially similar to those described above with respect to the Trustee bank. Any certificates must mature on or before the next succeeding Payment Date and must be held until maturity.
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Interest on Cash on Hand. Cash being held by the Trustee as a reserve for liabilities or for distribution at the next Distribution Date shall be placed (in the Trustee's discretion) in:
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Related to Interest on Cash on Hand

  • Interest on Payments Any payment by the Receiver pursuant to Section 2.6(d) shall be made together with interest on the amount thereof that accrues with effect from five (5) Business Days after the date on which payment was agreed or determined to be due until such amount is paid. The annual interest rate shall be determined by the Receiver based on the coupon equivalent of the three (3)-month U.S. Treasury Xxxx Rate in effect as of the first Business Day of each Calendar Quarter during which such interest accrues as reported in the Federal Reserve Board Statistical Release for Selected Interest Rates H.15 opposite the caption “Treasury bills (secondary market), 3-Month” or, if not so reported for such day, for the next preceding Business Day for which such rate was so reported.

  • Interest on Late Payments With respect to any payment between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under Section 6621 of the Code from such due date to and including the payment date.

  • Interest on Late Payment 20.1 Where a sum is required to be paid under this agreement (other than under the Tax Covenant) but is not paid before or on the date the parties agreed, the party due to pay the sum shall also pay an amount equal to interest on that sum for the period beginning with that date and ending with the date the sum is paid (and the period shall continue after as well as before judgment).

  • Interest on Arrears 5.19.1 If the Tenant shall fail to pay the Rents or any other sum due under this Lease within 14 days of the date due whether formally demanded or not (save for Rent or any other sum the amount of which was tote notified by the Landlord who has failed to do so) the Tenant shall pay to the Landlord Interest (compounded on each quarter day) on the Rents or other sum from the date when they were due to the date on which they are paid and such Interest shall be deemed to be rents due to the Landlord

  • Interest on Overdue Payments Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.

  • Interest on Past Due Amounts In addition to the late charge described in Article 14 below, if any installment of Annual Basic Rent or Additional Rent is not paid promptly when due, it shall bear interest at the Default Rate; provided, however, this provision shall not relieve Tenant from any default in the making of any payment at the time and in the manner required by this Lease; and provided, further, in no event shall the Default Rate exceed the maximum rate (if any) permitted by applicable law.

  • Interest on Overdue Amounts (a) If an Obligor fails to pay any amount payable by it under the Finance Documents, it must immediately on demand by the Facility Agent pay interest on the overdue amount from its due date up to the date of actual payment, both before, on and after judgment.

  • Interest on Loans (a) Subject to the provisions of Section 2.08, each ABR Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 days or 366 days in a leap year) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.

  • Interest on Unpaid Amounts Any amount which has become payable pursuant to the terms of this Agreement or any decision by arbitrators or judgment by a court of law pursuant to this Section 11 but which has not been timely paid shall bear interest at the prime rate in effect at the time such amount first becomes payable, as quoted by the Bank, except as otherwise provided in Sections 5(g), 6(d) and 7(g) of this Agreement (concerning interest payable with respect to certain delayed payments that are subject to Section 409A of the Code).

  • Interest on Advances Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower by each Bank from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

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