Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Retention Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Account.
Appears in 3 contracts
Samples: Receivables Purchase and Servicing Agreement (Bergen Brunswig Corp), Receivables Purchase and Servicing Agreement (Daisy Parts Inc), Receivables Purchase and Servicing Agreement (Advancepcs)
Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Retention Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Account.
Appears in 2 contracts
Samples: Receivables Funding Agreement (Labor Ready Inc), Servicing Agreement (Consolidated Freightways Corp)
Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Retention Reserve Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Reserve Account.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Amerisourcebergen Corp)
