Investment of Funds and Accounts Sample Clauses
Investment of Funds and Accounts i) Amounts in any Fund or Account established under this Indenture may, if and to the extent then permitted by law, be invested only in Qualified Investments provided that any Qualified Investment shall not have a maturity date greater than five (5) years from the date of the making of such investment unless such Qualified Investment may be put at par at any time at the option of the owner thereof. Any investment herein authorized is subject to the condition that no portion of the proceeds derived from the sale of the Bonds shall be used, directly or indirectly, in such manner as to cause any Bond to be an “arbitrage bond” within the meaning of Section 148 of the Code. In particular, unexpended Bond proceeds transferred from the Project Fund (or from the Earnings Fund with respect to amounts deposited therein from the Project Fund) to the Redemption Account of the Bond Fund pursuant to Section 5.02(f) may not be invested at a Yield which is greater than the Yield on the applicable Series of Bonds. Such investments shall be made by the Trustee only at the written request of an Authorized Representative of the Company; and if such investment is to be in one or more certificates of deposit, investment agreements or guaranteed investment contracts, then such written request shall include written assurance to the effect that such investment complies with the Tax Regulatory Agreement. Any investment hereunder shall be made in accordance with the Tax Regulatory Agreement, and the Company shall so certify to the Trustee with each such investment direction as referred to below. Such investments shall mature in such amounts and at such times as may be necessary to provide funds when needed to make payments from the applicable Fund. Net income or gain received and collected from such investments shall be credited and losses charged to (i) the Rebate Fund with respect to the investment of amounts held in the Rebate Fund, (ii) the Bond Fund with respect to the investment of amounts held in the Bond Fund, and (iii) the Earnings Fund with respect to the investment of amounts held in any other Fund.
Investment of Funds and Accounts. Subject to Section 4.7 of the Bond Resolution and Section 4.11 hereof, any moneys held as a part of the Sinking Fund, the Project Fund, or any other special trust account shall be invested or reinvested by the Sinking Fund Custodian or the Project Fund Depository, as the case may be, at the written direction of the Authorized Purchaser Representative in such Permitted Investments as may be designated by the Purchaser. The Sinking Fund Custodian or the Project Fund Depository, as the case may be, may make any and all such investments through its own bond or investment department or through its broker-dealer affiliate. The investments so purchased shall be held by the Sinking Fund Custodian or the Project Fund Depository, as the case may be, and shall be deemed at all times a part of the Sinking Fund, the Project Fund, or the trust account described in the preceding paragraph, as the case may be, and the interest accruing thereon and any profit realized therefrom shall be credited to such fund or account, and any losses resulting from such investments shall be charged to such fund or account therein and paid by the Purchaser.
Investment of Funds and Accounts. 54 Section 6.01 Investment of Bond Fund, Project Fund, and Collateral Fund. 54 Section 6.02 Investment of Rebate Fund 56 Section 6.03 Accounting for Termination of Investments; No Arbitrage 56 Section 6.04 Trustee’s Own Bond or Investment Department 56 Section 6.05 Moneys to be Held in Trust 56 ARTICLE VII GENERAL COVENANTS 57 Section 7.01 Payment of Bonds 57 Section 7.02 Performance of Covenants 57 Section 7.03 Maintenance of Existence; Compliance with Laws 57 Section 7.04 Enforcement of ▇▇▇▇▇▇▇▇’s Obligations 57 Section 7.05 Further Assurances, Instruments and Actions 58 Section 7.06 Priority of Pledge 58 Section 7.07 Books and Documents Open to Inspection 58
Investment of Funds and Accounts. Subject to Section 4.7 of the Bond Resolution and Section 4.11 hereof, any moneys held as a part of the Sinking Fund, the Project Fund, or any other special trust account shall be invested or reinvested by the Sinking Fund Custodian or the Project Fund Depository, as the case may be, at the written direction of the Authorized Purchaser Representative in such Permitted Investments as may be designated by the Purchaser. The Sinking Fund Custodian or the Project Fund Depository, as the case may be, may make any and all such investments through its own bond or investment department or through its broker-dealer affiliate. 20
Investment of Funds and Accounts. Subject to Section 5.3 of the Bond Purchase Agreement, any moneys held as a part of the Project Fund, or any other special trust funds shall be invested or reinvested by the Depositary at the written direction of the Authorized Lessee Representative, to the extent permitted by State law, in such Permitted Investments as may be designated by the Lessee. The Depositary may make any and all such investments through its own bond or investment department. The investments so purchased shall be held by the Depositary and shall be deemed at all times a part of the Project Fund or the trust account described in the preceding paragraph, as the case may be, and the interest accruing thereon and any profit realized therefrom shall be credited as provided in Section 5.3 of the Bond Purchase Agreement to such fund or account, and any losses resulting from such investments shall be charged to such fund or account therein and paid by the Lessee.
Investment of Funds and Accounts. (a) Money held herelU1der, if pennitted by law, shall, as nearly as may be practicable, be invested by the Trustee in any Eligible Investments in accordance with the direction of an Authorized Officer of the Corporation given in writing, which direction shall specifY the particular investment to be made; provided, however, that money in the Debt Service FlU1d shall only be invested in Eligible Investments of the type described in clause (ii), (iii), (vi) or (viii) of the definition of the term "Eligible Investments" set forth in Section 1 .0 I hereof, but, with res t to Eligible Investments described in said clause (viii), only if at the time such investment is made such securities are rated in the highest rating category of each Rating Service. Each investment shall permit the money so deposited or invested to be available for use at the times at, and in the amolU1ts in, which the Corporation reasonably believes such money will be required for the purposes hereof.
(b) Obligations purchased or other investments made as an investment of money in any fund or accolU1t held lU1der the provisions hereof shall be deemed at all times to be a part of such fund or accolU1t and the income or interest earned, profits realized or losses suffered by a fund or accolU1t due to the investment thereof shall be credited or charged, as the case may be, to such fund.or aCCOl.