Investment of Cash Collateral Account. (a) All or a portion of the Cash Collateral Account shall be invested and reinvested, as directed in writing by the Depositor, in one or more Eligible Investments bearing interest or sold at a discount. If the Depositor does not provide investment directions, the Owner Trustee shall cause the investment in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. [No such investment shall mature later than the Business Day immediately preceding the next Payment Date.]
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Delta Financial Corp), Pledge Agreement (Delta Financial Corp)
Investment of Cash Collateral Account. (a) All or a portion of the Cash Collateral Account shall be invested and reinvested, as directed in writing by the Depositor, in one or more Eligible Investments bearing interest or sold at a discount. If the Depositor does not provide investment directions, the Owner Trustee shall cause the investment in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. [No such investment shall mature later than the Business Day immediately preceding the next Payment Date.]
Appears in 2 contracts
Samples: Deposit Trust Agreement (Delta Financial Corp), Deposit Trust Agreement (Delta Financial Corp)
