Investment of Acquisition Fund. Monies held by Xxxxxx Agent hereunder shall be invested and reinvested by Escrow Agent upon written instructions from Xxxxxx, signed by an authorized individual substantially in the form attached hereto as Exhibit B, which is incorporated by reference herein, in an investment which is a permitted investment for Lessee under the laws of the state in which Lessee is organized. Escrow Agent shall have no responsibility for advising Lessee or Lessor as to the permissibility of any investment of monies in the Acquisition Fund. If Escrow Agent does not receive a written direction from Lessee as to the investment or reinvestment of monies in the Acquisition Fund, Escrow Agent may hold such monies uninvested until such direction is received. Escrow Agent shall have no responsibility for any losses suffered from any investment of monies on deposit in the Acquisition Fund authorized by Xxxxxx.
Investment of Acquisition Fund. TRANSFER OF PROCEEDS IN ACQUISITION FUND. Pending application of moneys in the Acquisition Fund (or any Account therein) to the foregoing purposes, such moneys shall be invested in Eligible Investments as provided in Section 5.7 hereof. Any portion of the moneys in the Acquisition Fund which is not, or which the Issuer at any time determines cannot for any reason be, used to Finance Student Loans prior to the date specified in the Terms Supplement shall, at the written direction of the Issuer and subject to any requirements set forth in the Terms Supplement, be transferred by the Indenture Trustee to the Collection Account for the payment of the principal of and interest on the Notes as provided in the Terms Supplement.
Investment of Acquisition Fund. Monies held by Xxxxxx Agent hereunder shall be invested and reinvested by Escrow Agent upon written instructions from Lessee in an investment which is a permitted investment for Lessee under the laws of the state in which Lessee is organized. Escrow Agent shall have no responsibility for advising Lessee or Lessor as to the permissibility of any investment of monies in the Acquisition Fund. If Escrow Agent does not receive a written direction from Lessee as to the investment or reinvestment of monies in the Acquisition Fund, Escrow Agent shall invest such monies in the Dreyfus Treasury Security Cash Management Investor Class #674 until subsequent written direction is received. Escrow Agent shall have no responsibility for any losses suffered from any investment of monies on deposit in the Acquisition Fund authorized by Xxxxxx.
Investment of Acquisition Fund. Transfer of --------------------------------------------------------- Proceeds in Acquisition Fund. ----------------------------- Pending application of moneys in the Acquisition Fund (or any Account therein) to the foregoing purposes, such moneys shall be invested in Eligible Investments as provided in Section 5.7 hereof. Any portion of the moneys in the Acquisition Fund which is not, or which the Issuer at any time determines cannot for any reason be, used to Finance Student Loans prior to the date specified in the Terms Supplement shall, at the written direction of the Issuer and subject to any requirements set forth in the Terms Supplement, be transferred by the Indenture Trustee to the Collection Account for the payment of the principal of and interest on the Notes as provided in the Terms Supplement.
