Common use of Investment of Funds and Accounts Held by the Trustee Clause in Contracts

Investment of Funds and Accounts Held by the Trustee. (a) Money held hereunder 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; provided that no investment of money in the Debt Service Reserve Fund shall mature more than 5 years after the date such investment is purchased or made unless such investment may be liquidated (including via put or tender) at the direction of the Corporation not later than one Business Day prior to each Interest Payment Date prior to the investment’s stated maturity date for: (i) purchase at a price not less than 100% of the stated principal amount of such investment; or (ii) redemption by the issuer at a price not less than 100% of the stated principal amount thereof. Each investment shall permit the money so deposited or invested to be available for use at the times at, and in the amounts in, which the Corporation reasonably believes such money will be required for the purposes hereof. The Corporation acknowledges that money in the Debt Service (b) The Trustee may conclusively rely upon the Corporation’s written instructions as to both the suitability and legality of the directed investments and such written direction shall be deemed to be a certification that such directed investments constitute Eligible Investments. Ratings of Permitted Investments shall be determined at the time of purchase of such Permitted Investments and without regard to Ratings subcategories. The Trustee may make any and all such investments through its own investment department or that of any affiliates or subsidiaries, and may charge its ordinary and customary fees for such trades, including investment maintenance fees. The Trustee shall be fully protected in reinvesting the earnings of any such investments in the same investments. (c) Obligations purchased or other investments made as an investment of money in any fund or account held under the provisions hereof shall be deemed at all times to be a part of such fund or account and the income or interest earned, profits realized or losses suffered by a fund or account due to the investment thereof shall be credited or charged, as the case may be, to such fund or account. (d) In computing the amount in any fund or account held by the Trustee under the provisions hereof, obligations purchased as an investment of money therein or held therein shall be valued at the market value thereof, inclusive of accrued interest to the date of valuation. (e) Notwithstanding anything to the contrary herein, the Corporation, in its discretion, may, and the Trustee at the direction of an Authorized Officer of the Corporation, shall sell, present for redemption or exchange any investment held pursuant hereto and the proceeds thereof may be reinvested as provided in this Section. Except as otherwise provided herein, such investments shall be sold at the best price reasonably obtainable by it, or presented for redemption or exchange, whenever it shall be necessary in order to provide money to meet any payment or transfer from the fund or account in which such investment is held. (f) Although the Corporation recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Corporation hereby agrees that confirmations of investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. Unless otherwise requested by the Corporation, no statement need be rendered for any fund or account if no activity occurred in such fund or account during such month. (g) The Trustee may elect, but shall not be obligated, to credit the funds and accounts held by it with moneys representing income or principal payments due on, or sales proceeds due in respect of, Eligible Investments in such funds and accounts, or to credit to Eligible Investments intended to be purchased with such moneys, in each case before actually receiving the requisite moneys from the payment source, or to otherwise advance funds for account transactions. The Corporation acknowledges that the legal obligation to pay the purchase price of any Eligible Investments arises immediately at the time of the purchase. Notwithstanding anything else in this Indenture, (i) any such crediting of funds or assets shall be provisional in nature, and the Trustee shall be authorized to reverse any such transactions or advances of funds in the event that it does not receive good funds with respect thereto, and (ii) nothing in this Indenture shall constitute a waiver of any of Trustee’s rights as a securities intermediary under Uniform Commercial Code §9-206.

Investment of Funds and Accounts Held by the Trustee. (a) Money Subject to the limitations set forth in this paragraph, money held hereunder hereunder, if permitted 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; provided that . Money in the Debt Service Fund shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) or (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereof and such investments shall mature no later than the date on which such moneys are required to be used to pay principal or Sinking Fund Installments of and interest on Bonds when due. Money in the Capitalized Interest Account shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) and (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereto and such investments shall mature no later than the date on which such moneys are required to be used to pay interest on Bonds when due. No investment of money in the Debt Service Reserve Fund shall mature more than 5 five years after the date such investment is purchased or made unless the Corporation shall direct the Trustee to put or tender such investment may be liquidated (including via put or tender) at the direction of the Corporation not later than one Business Day prior to each Interest Payment Date December 15 and June 15 prior to the investment’s stated maturity date for: for (ix) purchase at a price not less than one hundred percent (100% %) of the stated principal amount of such investment; investment by the issuer or an entity whose senior unenhanced long–term debt obligations are rated by at least two Rating Services at least as high as the rating assigned by such Rating Services on the Corporation’s Outstanding unenhanced Bonds without regard to qualification of such rating by symbols such as "+" or "–" or numerical notation or (iiy) redemption by the issuer at a price not less than one hundred percent (100% %) of the stated principal amount thereof. Each investment shall permit the money so deposited or invested to be available for use at the times at, and in the amounts in, which the Corporation reasonably believes such money will be required for the purposes hereof. The Corporation acknowledges that money in the Debt Service. (b) The Trustee may conclusively rely upon the Corporation’s written instructions as to both the suitability and legality of the directed investments and such written direction shall be deemed to be a certification that such directed investments constitute Eligible Investmentsinvestments. Ratings of Permitted Investments permitted investments shall be determined at the time of purchase of such Permitted Investments permitted investments and without regard to Ratings ratings subcategories. The Trustee may make any and all such investments through its own investment department or that of any its affiliates or subsidiaries, and may charge its ordinary and customary fees for such trades, including investment maintenance fees. The Trustee shall be fully protected in reinvesting the earnings of any such investments in the same investments. (c) Obligations purchased or other investments made as an investment of money in any fund or account held under the provisions hereof shall be deemed at all times to be a part of such fund or account and the income or interest earned, profits realized or losses suffered by a fund or account due to the investment thereof shall be credited or charged, as the case may be, to such fund or account. (d) In computing the amount in any fund or account held by the Trustee under the provisions hereof, obligations purchased as an investment of money therein or held therein shall be valued at the market value thereof, inclusive of accrued interest to the date of valuation.. DRAFT (e) Notwithstanding anything to the contrary herein, the Corporation, in its discretion, may, and the Trustee at the direction of an Authorized Officer of the Corporation, shall sell, present for redemption or exchange any investment held pursuant hereto and the proceeds thereof may be reinvested as provided in this Section. Except as otherwise provided herein, such investments shall be sold at the best price reasonably obtainable by it, or presented for redemption or exchange, whenever it shall be necessary in order to provide money to meet any payment or transfer from the fund or account in which such investment is held. The Trustee shall advise the Corporation in writing, on or before the fifteenth (15th) day of each calendar month, of the amounts required to be on deposit in each fund and account hereunder and of the details of all investments held for the credit of each fund and account in its custody under the provisions hereof as of the end of the preceding month and as to whether such investments comply with the provisions of paragraphs (a) and (b) of this Section. The details of such investments shall include the par value, if any, the cost and the current market value of such investments as of the end of the preceding month. The Trustee shall also describe all withdrawals, substitutions and other transactions occurring in each such fund and account in the previous month. (f) Although the Corporation recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Corporation hereby agrees that confirmations of investments Eligible Investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. Unless otherwise requested by the Corporation, no statement need be rendered for any fund or account if no activity occurred in such fund or account during such month. (g) The Trustee may elect, but shall not be obligated, to credit the funds and accounts held by it with moneys representing income or principal payments due on, or sales proceeds due in respect of, Eligible Investments in such funds and accounts, or to credit to Eligible Investments intended to be purchased with such moneys, in each case before actually receiving the requisite moneys from the payment source, or to otherwise advance funds for account transactions. The Corporation acknowledges that the legal obligation to pay the purchase price of any Eligible Investments arises immediately at the time of the purchase. Notwithstanding anything else in this Indenture, (i) any such crediting of funds or assets shall be provisional in nature, and the Trustee shall be authorized to reverse any such transactions or advances of funds in the event that it does not receive good funds with respect thereto, and (ii) nothing in this Indenture shall constitute a waiver of any of Trustee’s rights as a securities intermediary under Uniform Commercial Code §9-206.

Investment of Funds and Accounts Held by the Trustee. (a) Money Subject to the limitations set forth in this paragraph, money held hereunder hereunder, if permitted 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; provided that . Money in the Debt Service Fund shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) or (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereof and such investments shall mature no later than the date on which such moneys are required to be used to pay principal or Sinking Fund Installments of and interest on Bonds when due. Money in the Capitalized Interest Account shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) and (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereto and such investments shall mature no later than the date on which such moneys are required to be used to pay interest on Bonds when due. No investment of money in the Debt Service Reserve Fund shall mature more than 5 five years after the date such investment is purchased or made unless the Corporation shall direct the Trustee to put or tender such investment may be liquidated (including via put or tender) at the direction of the Corporation not later than one Business Day prior to each Interest Payment Date December 15 and June 15 prior to the investment’s stated maturity date for: for (ix) purchase at a price not less than one hundred percent (100% %) of the stated principal amount of such investment; investment by the issuer or an entity whose senior unenhanced long–term debt obligations are rated by at least two Rating Services at least as high as the rating assigned by such Rating Services on the Corporation’s Outstanding unenhanced Bonds without regard to qualification of such rating by symbols such as "+" or "–" or numerical notation or (iiy) redemption by the issuer at a price not less than one hundred percent (100% %) of the stated principal amount thereof. Each investment shall permit the money so deposited or invested to be available for use at the times at, and in the amounts in, which the Corporation reasonably believes such money will be required for the purposes hereof. The Corporation acknowledges that money in the Debt Service. (b) The Trustee may conclusively rely upon the Corporation’s written instructions as to both the suitability and legality of the directed investments and such written direction shall be deemed to be a certification that such directed investments constitute Eligible Investmentsinvestments. Ratings of Permitted Investments permitted investments shall be determined at the time of purchase of such Permitted Investments permitted investments and without regard to Ratings ratings subcategories. The Trustee may make any and all such investments through its own investment department or that of any its affiliates or subsidiaries, and may charge its ordinary and customary fees for such trades, including investment maintenance fees. The Trustee shall be fully protected in reinvesting the earnings of any such investments in the same investments. (c) Obligations purchased or other investments made as an investment of money in any fund or account held under the provisions hereof shall be deemed at all times to be a part of such fund or account and the income or interest earned, profits realized or losses suffered by a fund or account due to the investment thereof shall be credited or charged, as the case may be, to such fund or account. (d) In computing the amount in any fund or account held by the Trustee under the provisions hereof, obligations purchased as an investment of money therein or held therein shall be valued at the market value thereof, inclusive of accrued interest to the date of valuation. (e) Notwithstanding anything to the contrary herein, the Corporation, in its discretion, may, and the Trustee at the direction of an Authorized Officer of the Corporation, shall sell, present for redemption or exchange any investment held pursuant hereto and the proceeds thereof may be reinvested as provided in this Section. Except as otherwise provided herein, such investments shall be sold at the best price reasonably obtainable by it, or presented for redemption or exchange, whenever it shall be necessary in order to provide money to meet any payment or transfer from the fund or account in which such investment is held. The Trustee shall advise the Corporation in writing, on or before the fifteenth (15th) day of each calendar month, of the amounts required to be on deposit in each fund and account hereunder and of the details of all investments held for the credit of each fund and account in its custody under the provisions hereof as of the end of the preceding month and as to whether such investments comply with the provisions of paragraphs (a) and (b) of this Section. The details of such investments shall include the par value, if any, the cost and the current market value of such investments as of the end of the preceding month. The Trustee shall also describe all withdrawals, substitutions and other transactions occurring in each such fund and account in the previous month. (f) Although the Corporation recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Corporation hereby agrees that confirmations of investments Eligible Investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. Unless otherwise requested by the Corporation, no statement need be rendered for any fund or account if no activity occurred in such fund or account during such month. (g) The Trustee may elect, but shall not be obligated, to credit the funds and accounts held by it with moneys representing income or principal payments due on, or sales proceeds due in respect of, Eligible Investments in such funds and accounts, or to credit to Eligible Investments intended to be purchased with such moneys, in each case before actually receiving the requisite moneys from the payment source, or to otherwise advance funds for account transactions. The Corporation acknowledges that the legal obligation to pay the purchase price of any Eligible Investments arises immediately at the time of the purchase. Notwithstanding anything else in this Indenture, (i) any such crediting of funds or assets shall be provisional in nature, and the Trustee shall be authorized to reverse any such transactions or advances of funds in the event that it does not receive good funds with respect thereto, and (ii) nothing in this Indenture shall constitute a waiver of any of Trustee’s rights as a securities intermediary under Uniform Commercial Code §9-206.

Investment of Funds and Accounts Held by the Trustee. (a) Money Subject to the limitations set forth in this paragraph, money held hereunder hereunder, if permitted 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; provided that . Money in the Debt Service Fund shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) or (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereof and such investments shall mature no later than the date on which such moneys are required to be used to pay principal or Sinking Fund Installments of and interest on Bonds when due. Money in the Capitalized Interest Account shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) and (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereto and such investments shall mature no later than the date on which such moneys are required to be used to pay interest on Bonds when due. No investment of money in the Debt Service Reserve Fund shall mature more than 5 five years after the date such investment is purchased or made unless the Corporation shall direct the Trustee to put or tender such investment may be liquidated (including via put or tender) at the direction of the Corporation not later than one Business Day prior to each Interest Payment Date 15 and 15 prior to the investment’s stated maturity date for: for (ix) purchase at a price not less than one hundred percent (100% %) of the stated principal amount of such investment; investment by the issuer or an entity whose senior unenhanced long–term debt obligations are rated by at least two Rating Services at least as high as the rating assigned by such Rating Services on the Corporation’s Outstanding unenhanced Bonds without regard to qualification of such rating by symbols such as “+” or “– ” or numerical notation or (iiy) redemption by the issuer at a price not less than one hundred percent (100% %) of the stated principal amount thereof. Each investment shall permit the money so deposited or invested to be available for use at the times at, and in the amounts in, which the Corporation reasonably believes such money will be required for the purposes hereof. The Corporation acknowledges that money in the Debt Service (b) The Trustee may conclusively rely upon the Corporation’s written instructions as to both the suitability and legality of the directed investments and such written direction shall be deemed to be a certification that such directed investments constitute Eligible Investmentsinvestments. Ratings of Permitted Investments permitted investments shall be determined at the time of purchase of such Permitted Investments permitted investments and without regard to Ratings ratings subcategories. The Trustee may make any and all such investments through its own investment department or that of any its affiliates or subsidiaries, and may charge its ordinary and customary fees for such trades, including investment maintenance fees. The Trustee shall be fully protected Except as set forth in reinvesting the earnings of any such investments in the same investments. (c) Obligations Article V, obligations purchased or other investments made as an investment of money in any fund or account held under the provisions hereof shall be deemed at all times to be a part of such fund or account and the income or interest earned, profits realized or losses suffered by a fund or account due to the investment thereof shall be credited or charged, as the case may be, to such fund or account. (d) . In computing the amount in any fund or account held by the Trustee under the provisions hereof, obligations purchased as an investment of money therein or held therein shall be valued at the market value thereof, inclusive of accrued interest to the date of valuation. (e) . Notwithstanding anything to the contrary herein, the Corporation, in its discretion, may, and the Trustee at the direction of an Authorized Officer of the Corporation, shall sell, present for redemption or exchange any investment held pursuant hereto and the proceeds thereof may be reinvested as provided in this Section. Except as otherwise provided herein, such investments shall be sold at the best price reasonably obtainable by it, or presented for redemption or exchange, whenever it shall be necessary in order to provide money to meet any payment or transfer from the fund or account in which such investment is held. . The Trustee shall advise the Corporation in writing, on or before the fifteenth (f15th) day of each calendar month, of the amounts required to be on deposit in each fund and account hereunder and of the details of all investments held for the credit of each fund and account in its custody under the provisions hereof as of the end of the preceding month and as to whether such investments comply with the provisions of paragraphs (a) and (b) of this Section. The details of such investments shall include the par value, if any, the cost and the current market value of such investments as of the end of the preceding month. The Trustee shall also describe all withdrawals, substitutions and other transactions occurring in each such fund and account in the previous month. Although the Corporation recognizes that it may obtain a broker confirmation or written statement containing comparable information at no additional cost, the Corporation hereby agrees that confirmations of investments Eligible Investments are not required to be issued by the Trustee for each month in which a monthly statement is rendered. Unless otherwise requested by the Corporation, no statement need be rendered for any fund or account if no activity occurred in such fund or account during such month. (g) The Trustee may elect, but shall not be obligated, to credit the funds and accounts held by it with moneys representing income or principal payments due on, or sales proceeds due in respect of, Eligible Investments in such funds and accounts, or to credit to Eligible Investments intended to be purchased with such moneys, in each case before actually receiving the requisite moneys from the payment source, or to otherwise advance funds for account transactions. The Corporation acknowledges that the legal obligation to pay the purchase price of any Eligible Investments arises immediately at the time of the purchase. Notwithstanding anything else in this Indenture, (i) any such crediting of funds or assets shall be provisional in nature, and the Trustee shall be authorized to reverse any such transactions or advances of funds in the event that it does not receive good funds with respect thereto, and (ii) nothing in this Indenture shall constitute a waiver of any of Trustee’s rights as a securities intermediary under Uniform Commercial Code §9-206.