Investment of Funds Deposited in Shared Collateral Account. The Shared Collateral Agent may, and at the written direction of the Required Shared Collateral Secured Parties shall, invest and reinvest moneys on deposit in the Shared Collateral Accounts 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 applicable Shared Collateral Account as Shared Collateral. Neither the Shared Collateral Agent nor any other Shared Collateral Secured Party shall be responsible for (i) determining whether investments are Permitted Investments or (ii) any diminution in funds resulting from such investments or any liquidation prior to maturity. For the avoidance of doubt, in the absence of any written directions from the Required Shared Collateral Secured Parties, the Shared Collateral Agent shall have no obligation to invest or reinvest any moneys.
Appears in 5 contracts
Samples: Credit Agreement (Dex Media, Inc.), Loan Agreement (Dex Media, Inc.), Credit Agreement (Dex Media, Inc.)
Investment of Funds Deposited in Shared Collateral Account. The Shared Collateral Agent may, and at the written direction of the Required Shared Collateral Secured Parties shall, invest and reinvest moneys on deposit in the Shared Collateral Accounts 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 applicable Shared Collateral Account as Shared Collateral. Neither the Shared Collateral Agent nor any other Shared Collateral Secured Party shall be responsible for (i) determining whether investments are Permitted Investments permitted pursuant to the terms of this subsection 3.3 or (ii) any diminution in funds resulting from such investments or any liquidation prior to maturity. For the avoidance of doubt, in the absence of any written directions from the Required Shared Collateral Secured Parties, the Shared Collateral Agent shall have no obligation to invest or reinvest any moneys.
Appears in 3 contracts
Samples: Credit Agreement (DEX ONE Corp), Credit Agreement (DEX ONE Corp), Credit Agreement (DEX ONE Corp)
