Investment of Funds Held by Trustee Sample Clauses

Investment of Funds Held by Trustee. The Trustee shall invest money held for the credit of any Fund or Account or Subaccount held by the Trustee hereunder, as directed in writing (or orally, confirmed in writing) by an Authorized Representative (unless an Event of Default shall have occurred hereunder for which a Responsible Officer of the Trustee has actual knowledge or has received written notice and the Trustee has received direction with respect thereto pursuant to Section 6.11 hereof) using a form of instructions acceptable to the Trustee, to the extent practicable, in Investment Securities, which the Authority shall determine are expected to mature or be redeemed at the option of the holder, without penalty, prior to the respective dates when the money held for the credit of such Fund or Account or Subaccount is expected to be required for the purposes intended, but in no event later than the next Monthly Distribution Date. If a Fund or Account or Subaccount no longer constitutes an Eligible Account, the Trustee shall promptly (and, in any case, within not more than 30 calendar days) move such Fund or Account or Subaccount to another Eligible Institution such that the Fund or Account or Subaccount shall again constitute an Eligible Account; provided, that the Trustee shall reasonably cooperate with the Authority to effectuate such a move. In the absence of any such direction, the Trustee shall hold amounts hereunder uninvested and shall have no liability or obligation to pay interest or earnings on any such amounts. The Trustee and the Authority hereby agree that unless an Event of Default shall have occurred hereunder, the Authority acting by and through an Authorized Representative shall be entitled to, and shall, provide written direction, or oral direction confirmed in writing to the Trustee with respect to any discretionary acts required or permitted of the Trustee under any Investment Securities and the Trustee shall not take such discretionary acts without such written direction. The Investment Securities purchased shall be held by the Trustee or by another Eligible Institution and shall be deemed at all times to be part of such Fund or Account or combination thereof, and the Trustee shall inform the Authority of the details of all such investments. All such investments shall be held by (or by any custodian on behalf of) the Trustee for the benefit of the Noteholders, the Department and the Authority, as their respective interests may appear; provided that, on the Business Day pr...
Sample 1Sample 2See All (8)
AutoNDA by SimpleDocs
Investment of Funds Held by Trustee. (i) The Trustee shall invest money held for the credit of any Account or subaccount held by the Trustee hereunder as directed in writing (or oral direction confirmed in writing) by the Debtor, to the fullest extent practicable and reasonable, in Permitted Investments. Such direction by the Debtor shall not conflict with the obligation of the Trustee to make timely payments pursuant to Section 5.11(c)(iv). In the absence of any such direction and to the extent practicable, the Trustee shall invest amounts held hereunder in those Permitted Investments described in clause (i) of the definition of the Permitted Investments. All income and earning on such investments shall be held in the Account to which the Permitted Investment is related and withdrawn pursuant to the applicable provisions of Section 5.11. The Trustee and the Debtor hereby agree that unless an Event of Default shall have occurred hereunder, the Debtor shall be entitled to, and shall, provide written direction or oral direction confirmed in writing to the Trustee with respect to any discretionary acts required or permitted of the Trustee under any Permitted Investment and the Trustee shall not take such discretionary acts without such written direction.
Sample 1Sample 2Sample 3See All (6)
Investment of Funds Held by Trustee. Unless otherwise provided in this Agreement, any funds held by or on behalf of the Trustee which under the terms of this Agreement may or ought to be invested or which may be on deposit with the Trustee or which may be in the hands of the Trustee may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the State of Delaware, trustees are authorized to invest trust funds, provided that such securities are stated to mature within two years after their purchase by the Trustee, and the Trustee shall so invest such funds on the written direction of EMS LP. Pending the investment of any funds as herein provided, such funds may be deposited in the name of the Trustee in any chartered bank in the United States or, with the consent of EMS LP, with any other loan or trust company authorized to accept deposits under the laws of the United States or any state thereof at the rate of interest then current on similar deposits.
Sample 1Sample 2

Related to Investment of Funds Held by Trustee

  • Investment of Moneys Held by Trustee Unless otherwise provided in this agreement, any moneys held by or on behalf of the Trustee which under the terms of this agreement may or ought to be invested or which may be on deposit with the Trustee or which may be in the hands of the Trustee, may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the Province of Ontario, trustees are authorized to invest trust moneys; provided that such securities are stated to mature within two years after their purchase by the Trustee, and the Trustee shall so invest such moneys on the timely written direction of the Corporation. Pending the investment of any moneys as hereinbefore provided, such moneys may be deposited in the name of the Trustee in any chartered bank in Canada or, with the consent of the Corporation, in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or any province thereof at the rate of interest then current on similar deposits.

  • Reports by Trustee to Holders of the Notes (a) Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2). The Trustee will also transmit by mail all reports as required by TIA § 313(c).

  • Reports by Trustee to the Holders As promptly as practicable after each June 30 beginning with the June 30 following the date of this Indenture, and in any event prior to August 30 in each year, the Trustee shall send to each Holder a brief report dated as of such June 30 that complies with Section 313(a) of the TIA if and to the extent required thereby. The Trustee shall also comply with Section 313(b) of the TIA. A copy of each report at the time of its mailing to the Holders shall be filed with the SEC and each stock exchange (if any) on which the Securities are listed. The Issuer agrees to notify promptly the Trustee in writing whenever the Securities become listed on any stock exchange and of any delisting thereof.

  • Reliance by Trustee Except as otherwise provided in Section 7.1:

  • Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the Principal of or interest on any Security of any series and not applied but remaining unclaimed for two years after the date upon which such Principal or interest shall have become due and payable, shall, upon the written request of the Company and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by the Trustee for such series or such paying agent, and the Holder of the Security of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Company for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease.

  • Reports by Trustee to Holders If required by TIA Section 313(a), within 60 days after May 15 of any year, commencing the May 15 following the date of this Indenture, the Trustee shall mail to each Holder a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply with TIA Section 313(b), (c) and (d). Reports pursuant to this Section 7.06 shall be transmitted by mail:

Time is Money Join Law Insider Premium to draft better contracts faster.