Common use of Investment of Accounts Clause in Contracts

Investment of Accounts. (a) Consistent with any requirements of the Code, all or a portion of any Account held by the Trustee for the benefit of the Owners may (i) remain uninvested or (ii) be invested and reinvested by the Trustee as directed in writing by the Servicer in the name of the Trustee for the benefit of the Owners in one or more Eligible Investments bearing interest or sold at a discount. The bank serving as Trustee or any Affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date. Amounts held in the Certificate Account shall be invested in Eligible Investments, which Eligible Investments shall mature no later than the Business Day preceding the immediately following Distribution Date or, if such Eligible Investments are an obligation of the Trustee or are money market funds for which the Trustee or any Affiliate is the manager or the adviser, such Eligible Investments shall mature no later than the following Distribution Date.

Appears in 21 contracts

Samples: Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2002 B), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2002-A), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2002-C)

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Investment of Accounts. (a) Consistent with any requirements of the Code, all or a portion of any Account held by the Trustee for the benefit of the Owners may (i) remain uninvested or (ii) be invested and reinvested by the Trustee as directed in writing by the Servicer in the name of the Trustee for the benefit of the Owners and the Certificate Insurer in one or more Eligible Investments bearing interest or sold at a discount. The bank serving as Trustee or any Affiliate affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date. Amounts held in the Certificate Account shall be invested in Eligible Investments, which Eligible Investments shall mature no later than the Business Day preceding the immediately following Distribution Payment Date or, if such Eligible Investments are an obligation of the Trustee or are money market funds for which the Trustee or any Affiliate affiliate is the manager or the adviser, such Eligible Investments shall mature no later than the following Distribution Payment Date.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Chec Asset Receivables Corp), Pooling and Servicing Agreement (Chec Asset Receivables Corp), Pooling and Servicing Agreement (Chec Asset Receivables Corp)

Investment of Accounts. (a) Consistent with any requirements of the Code, all or a portion of any Account held by the Trustee for the benefit of the Owners may (i) remain uninvested or (ii) be invested and reinvested by the Trustee as directed in writing by the Servicer in the name of the Trustee for the benefit of the Owners and the Certificate Insurer in one or more Eligible Investments bearing interest or sold at a discount. The bank serving as Trustee or any Affiliate affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date. Amounts held in the Certificate Account shall be invested in Eligible Investments, which Eligible Investments shall mature no later than the Business Day preceding the immediately following Distribution Date or, if such Eligible Investments are an obligation of the Trustee or are money market funds for which the Trustee or any Affiliate affiliate is the manager or the adviser, such Eligible Investments shall mature no later than the following Distribution Date.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Chec Asset Receivables Corp), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 1999-2), Pooling and Servicing Agreement (Centex Home Equity Ln Asset Bk Cert Ser 1999-3)

Investment of Accounts. (a) Consistent with any requirements of the Code, all or a portion of any Account held by the Trustee for the benefit of the Owners may (i) remain uninvested or (ii) be invested and reinvested by the Trustee as directed in writing by the Servicer in the name of the Trustee for the benefit of the Owners and the Certificate Insurer in one or more Eligible Investments bearing interest or sold at a discount. The bank serving as Trustee or any Affiliate affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date. Amounts held in the Certificate Account shall be invested in Eligible Investments, which Eligible Investments shall mature no later than the Business Day preceding the immediately following Distribution Date or, if such Eligible Investments are an obligation of the Trustee or are money market funds for which the Trustee or any Affiliate affiliate is the manager or the adviser, such Eligible Investments shall mature no later than the following Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2000-A), Pooling and Servicing Agreement (Chec Funding LLC)

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Investment of Accounts. (a) Consistent with any requirements of the Code, all or a portion of any Account held by the Trustee for the benefit of the Owners may (i) remain uninvested or (ii) be invested and reinvested by the Trustee as directed in writing by the Servicer in the name of the Trustee for the benefit of the Owners and the Certificate Insurer in one or more Eligible Investments bearing interest or sold at a discount. The bank serving as Trustee or any Affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date. Amounts held in the Certificate Account shall be invested in Eligible Investments, which Eligible Investments shall mature no later than the Business Day preceding the immediately following Distribution Date or, if such Eligible Investments are an obligation of the Trustee or are money market funds for which the Trustee or any Affiliate is the manager or the adviser, such Eligible Investments shall mature no later than the following Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Centex Credit Corp Home Eq Ln Asset Backed Cert Ser 2000 B), Pooling and Servicing Agreement (Centex Home Equity Loan Asset Backed Certs Series 2001 A)

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