Investment of Funds Deposited in Collateral Account. The Collateral Agent may, but is under no obligation to, invest and reinvest moneys on deposit in the Collateral Account at any time in Permitted Investments. All such investments and the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in the Collateral Account and constitute Collateral. The Collateral Agent shall not be responsible for any diminution in funds resulting from such investments or any liquidation prior to maturity.
Investment of Funds Deposited in Collateral Account. The Corporate Trustee shall invest and reinvest moneys on deposit in the Collateral Account at any time in:
(a) marketable obligations of the United States having a maturity of not more than one year from the date of acquis- tion;
(b) marketable obligations directly and fully guaranteed by the United States having a maturity of not more than one year from the date of acquisition;
(c) bankers' acceptances and certificates of deposit and other interest-bearing obligations issued by any bank organized under the laws of the United States or any state thereof with capital, surplus and undivided profits aggregating at least $500,000,000, in each case having a maturity of not more than one year from the date of acquisition;
(d) repurchase obligations with a term of not more than one day for underlying securities of the types described in clauses (a), (b) and (c) above entered into with any bank meeting the qualifications specified in clause (c) above;
(e) commercial paper rated at least A-2 or the equivalent thereof by Standard & Poor's Ratings Group or at least P-2 or the equivalent thereof by Xxxxx'x Investors Service, Inc. and matur- ing within six months after the date of acquisition; and
(f) shares of open end money market mutual or similar funds which invest exclusively in assets satisfying the re- quirements of clause (a) through (e) above; provided that the (i) aggregate amount invested in obligations of the types described in clauses (c), (d) and (e) above of any one issuer shall not exceed $50,000,000 at any time and (ii) the Borrower may (so long as no Notice of Enforcement shall be in effect) specify the category or categories of investments specified above in which funds on deposit in the Asset Sale Proceeds Sub-Account shall be invested and may specify the maturities (not in any event longer than the maturities specified above) of such investments; provided that the Borrower or the Corporate Trustee, as applicable, shall, to the extent that the timing of distributions to be made from the Collateral Account is known or can be reasonably anticipated, select investments for amounts equal to such distributions that mature prior to the anticipated dates of such distributions. All such investments of funds in any Sub-Account, the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in such Sub-Account as part of the Trust Estate.
Investment of Funds Deposited in Collateral Account. The Trustee shall, in accordance with Requisite Instructions delivered to the Trustee, invest and reinvest moneys on deposit in the Collateral Account at any time in Cash Equivalent Investments. All such investments and the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in the Collateral Account as part of the Trust Estate. The Trustee shall not be responsible for any diminution in funds resulting from such investments. In the absence of any Requisite Instructions, the Trustee shall have no obligation to invest or reinvest moneys.
Investment of Funds Deposited in Collateral Account. The Collateral Trustee shall, following an Event of Default and at the direction of the Controlling Party (who, if a Holder Representative, shall be entitled to receive direction pursuant to any mechanisms provided for in the relevant Secured Instruments), invest and reinvest moneys on deposit in the Collateral Account at any time in Cash Equivalents (as defined in the Collateral Agreement). The Collateral Trustee shall have no obligation to invest or reinvest the funds held in the Collateral Account if deposited after 11:00 a.m. (E.S.T.) on such day of deposit. Instructions received after 11:00 a.m. (E.S.T.) will be treated as if received on the following Business Day. The Collateral Trustee shall have no responsibility for any investment losses resulting from the investment, reinvestment or liquidation of the funds. Any interest or other income received on such investment and reinvestment of the funds shall become part of the Collateral Account and any losses incurred on such investment and reinvestment of the funds shall be debited against the Collateral Account. All such investments and the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in the Collateral Account as part of the Trust Estate. Neither the Collateral Trustee nor any other Secured Party shall be responsible for any diminution in funds resulting from such investments or any liquidation prior to maturity. In the absence of such directions, the Collateral Trustee shall have no obligation to invest or reinvest any moneys. It is understood and agreed that the Collateral Trustee or its affiliates are permitted to receive fees and compensation associated with investments that could be deemed to be in the Collateral Trustee’s economic self-interest for (1) serving as investment adviser, administrator, shareholder servicing agent, custodian or sub custodian with respect to certain of the investments, (2) using affiliates to effect transactions in certain investments and (3) effecting transactions in investments. In no event shall the Collateral Trustee be deemed an investment manager or adviser in respect of any selection of investments hereunder.
Investment of Funds Deposited in Collateral Account. Except as otherwise provided in Section 5.2(b), the Collateral Agent shall invest and reinvest moneys on deposit in the Collateral Account at any time in Cash Equivalents but only in accordance with the written instructions of the Applicable Representative specifying the particular investment. In the absence of the receipt of any such instructions, the moneys on deposit in the Collateral Account shall not be invested. All such investments and the interest and income received thereon and therefrom and the net proceeds realized on the sale thereof shall be held in the Collateral Account as part of the Secured Debt Collateral.
Investment of Funds Deposited in Collateral Account. At the written direction of the Applicable Authorized Representative, the Collateral Agent shall invest and reinvest moneys on deposit in the Collateral Account at any time in money market funds investing in Permitted Investments (with the particular fund to be specified in writing by the Applicable Authorized Representative). All such investments and the interest and income received thereon and therefrom and the net proceeds realized on the sale thereof shall be held in the Collateral Account, as applicable, as part of the Trust Estate. In the absence of the written investment direction of the Applicable Authorized Representative, all moneys on deposit in the Collateral Account shall remain uninvested and the Collateral Agent shall have no obligation for interest thereon.
Investment of Funds Deposited in Collateral Account. The Collateral Agent shall use reasonable efforts to invest and reinvest moneys on deposit in the Collateral Account at any time in:
Investment of Funds Deposited in Collateral Account. The Collateral Trustee shall invest and reinvest moneys on deposit in the Collateral Account at any time in one or more Cash Equivalents as directed by the Lender; provided, however, that in order to provide the Secured Parties and the Collateral Trustee with a perfected security interest therein:
(a) each such investment shall be evidenced, or deemed under applicable federal regulations to be evidenced, by negotiable certificates or instruments or nonnegotiable certificates or instruments issued in the name of the Collateral Trustee, which (together with any appropriate instruments of transfer) are delivered to, and held by, the Collateral Trustee or an agent thereof (which shall not be any Grantor or any of its affiliates); or
(b) each such investment shall be held in the Collateral Account or other Securities Accounts in the name of the Collateral Trustee, with respect to which accounts the Collateral Trustee shall be the sole entitlement holder and the only person authorized to give entitlement orders; and provided, further, that the maximum amount of the funds held in the Collateral Account which may be invested in obligations of the types described in clauses (b), (c) and (d) of the definition of "Cash Equivalents" in the Credit Agreement of any one issuer shall not exceed the lesser of five percent (5%) of such funds or $5,000,000, except that in the absence of any direction from the Lender, the Collateral Trustee shall invest 100% of such funds, notwithstanding any other provision of the Loan Documents or the Indenture, in the U.S. Government Portfolio of the Wilmington Funds, a mutual fund managed by Xxxxxx Square Management Corporation, a subsidiary of the Collateral Trustee. All such investments and the interest and income received thereon and therefrom and the net proceeds realized on the sale hereof shall be held in the Collateral Account as part of the Trust Estate.
Investment of Funds Deposited in Collateral Account. The Collateral Trustee shall, at the direction of the Directing Parties or, if no Notice of Acceleration is in effect, the Company, invest and reinvest moneys on deposit in the Collateral Account at any time in Cash Equivalents. All such investments and the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in the Collateral Account as part of the Trust Estate. Neither the Collateral Trustee nor any other Secured Party shall be responsible for (i) determining whether investments are permitted pursuant to the terms of this Section 3.3 or (ii) any diminution in funds resulting from such investments or any liquidation prior to maturity. In the absence of such directions, the Collateral Trustee shall have no obligation to invest or reinvest moneys.
Investment of Funds Deposited in Collateral Account. The Collateral Agent may, at the request of the Company, invest and reinvest moneys on deposit in the Collateral Account at any time in Permitted Investments; provided that the Collateral Agent, in its sole discretion, may (a) restrict such investments and reinvestments to Permitted Investments that have a shorter duration and higher credit quality than other Permitted Investments and (b) decline to invest or reinvest any amount that it expects to distribute from the Collateral Account within one Business Day. All such investments and the interest and income received thereon and the net proceeds realized on the sale or redemption thereof shall be held in the Collateral Account as part of the Collateral Estate. The Collateral Agent shall not be responsible for any diminution in funds resulting from such investments or any liquidation prior to maturity.
